March Market Summary

This Metro Atlanta housing summary covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.
Sales: March residential sales were at 6,952, an increase of 7.3% from the previous year.
Prices: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in March was $330,000, an increase of 15.8% from last March. The average sales price was $396,500, up 15.9% from the previous year.
Supply: Atlanta area housing inventory totaled 7,426 units in March, a decrease of 55.8% from March 2020. New listings totaled 8,767, down 7.4% from March 2020 and up 25.4% from the previous month. The month’s supply over a 12-month period decreased to 1.1 months.
I’m very challenged with the lack of inventory, but I see the increase in sales as a good thing. I’m having to get creative for buyers with seeing off-market listings, as well as reaching out to homeowners whose homes my buyer clients may be interested in. As John Adams said, “Every problem is an opportunity in disguise.”
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