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Atlanta REALTORS® Market Brief: May 2020

The Atlanta REALTORS® (ARA), the largest association of its kind in Georgia, released its May 2020 Market Brief on residential housing statistics in metro-Atlanta. The Market Brief, compiled by First Multiple Listing Service (FMLS), provides the only regionally focused synopsis of monthly sales and home prices for single family residential properties. Covers 11 counties: Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Paulding and Rockdale.

May Comments

ARA Market Brief

Demand: May residential sales were at 4,085, a decrease of 36.8% from the previous year.

Price: Average and median sales prices continue to gain traction and outpace 2019’s figures, with positive gains. The median sales price in May was $291,000, an increase of 0.3% from last May. The average sales price was $351,000, down -0.6% from the previous year.

Supply: Atlanta area housing inventory totaled 11,313 units in May, a decrease of 23.7% from May 2019. New listings totaled 3,915, down 35.8% from May 2019 and up 5.4% from the previous month. The month’s supply over a 12-month period decreased to 2.3 months.

A Word from 2020 Atlanta REALTORS® President Jennifer Pino:

"While prices remain steady, sales for May reflect the impact of the Shelter in Place Order that Metro Atlanta residents were following during March and April. Based on the showing activity during those months, this was an expected decline and will continue to affect the overall sales for the early part of the summer," said Jennifer Pino, President of the Atlanta REALTORS® Association. "Interest rates are now at historic lows falling below 3% in many cases so combined with the re-opening of many businesses, we have seen the showing activity and pending sales trending upward over the last month. Based on this trend, activity is expected to trend higher overall this summer as compared to last summer. "

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The data in this report was compiled by First Multiple Listing Service (FMLS). For more information on details of this month's report, please contact the Association at 404.250.0051.

*Each month, the numbers reported for the previous month are updated to reflect additional recordings.

Friday, June 12, 2020

About the Atlanta REALTORS® Association

The Atlanta REALTORS® Association (ARA) has been an instrumental factor in the growth of real estate in the state of Georgia for more than a century. With over 10,000 members, Atlanta is the largest board in Georgia and is considered to be one of the strongest and most successful REALTOR® organizations in the nation. ARA serves as a central source of information for its members, with mainly focusing on real estate education, the promotion of professionalism in the industry and representing REALTORS® members with legislative initiatives to create positive change for the real estate community.

About First Multiple Listing Service

First Multiple Listing Service, Inc. (FMLS) is the premier data services provider for real estate professionals in Georgia. FMLS was founded by a handful of real estate brokers in Atlanta in 1957. Today, membership is growing quickly and is spreading in every direction throughout Georgia. Currently, FMLS has over 2,300 offices and serves more than 43,000 real estate agents. The FMLS listing database contains more than 31,000 active listings located all over Georgia.

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