Demand: January residential sales were at 3,280, an increase of 7.8% 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 January was $273,000, an increase of 7.1% from last January. The average sales price was $336,000, up 6.0% from the previous year.
Supply: Atlanta area housing inventory totaled 11,483 units in January, a decrease of 10.9% from January 2019. New listings totaled 4,173, down 9.8% from January 2019 and up 48.4% 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: Jennifer Pino, President of Atlanta REALTORS® Association said, "National economists have projected sales should increase modestly over 2020, but Metro Atlanta experienced a great start to 2020 with January sales reflecting a strong 7.8% increase. With demand remaining high and inventory levels continuing at historic lows, the median price has increased again by 7%. Interest rates are expected to remain low throughout 2020, which will help keep the monthly mortgage at an affordable level."