News Summary
The metro Atlanta real estate market has seen a 2 percent drop in median home sale prices over the last year, as revealed by recent Redfin data. With the housing inventory surpassing demand by over 500,000 homes, the market is now more negotiable for buyers. Currently, the median asking price stands at approximately $422,238, while the actual sale price is lower by about $26,000. Despite these changes, Atlanta remains one of the U.S.’s hottest real estate markets.
Atlanta – The real estate market in metro Atlanta is witnessing a notable decline in home sale prices, with median sale prices dropping by 2 percent over the last year, according to recent data from Redfin. Despite this downturn, the area remains a strong contender among the hottest real estate markets in the United States.
As the housing inventory increases—currently outpacing demand by more than 500,000 homes—sellers are finding themselves in a negotiable market. The median asking price for homes in the region stands at approximately $422,238, yet the median sale price is lower by about $26,000, reflecting the shift in market dynamics.
In contrast to metro Atlanta’s decline, the overall median home sale price across the United States hit a record high of $396,500 during the four weeks ending June 15, marking a 1.1 percent year-over-year increase. However, national home prices have experienced a decline of around 5 percent since the year’s beginning.
Market Dynamics
The number of new home listings in metro Atlanta has increased by 4.4 percent year-over-year, while total listings have surged by 14.5 percent. On the flip side, pending sales in the area have decreased by 1.5 percent. This increase in inventory is resulting in a significant imbalance that favors buyers, enabling them to negotiate better terms.
Recent figures reveal that mortgage applications fell by 3 percent week over week, indicating continued challenges for many potential homeowners due to high prices and rising interest rates. Experts suggest that sellers should focus on strategic pricing and maintain the condition of their properties to enhance market performance.
Property Listings and Luxury Homes
Comparative Market Overview
Future Outlook
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Additional Resources
- Patch: How Oversupply of Homes is Affecting GA Real Estate Sales
- Atlanta News First: HGTV Cancels Atlanta-Based Show
- Rough Draft Atlanta: Atlanta Real Estate Shift Forecast
- Wikipedia: Real Estate
- Newsweek: Atlanta Housing Market Risk
- Encyclopedia Britannica: Housing
- Global Atlanta: How Puttogo Helps International Home Buyers
- Google Search: Atlanta Real Estate Market
- GlobeNewswire: Berkshire Hathaway HomeServices Georgia Properties
- Google Scholar: Atlanta Housing Market
- Realtor.com: Atlanta Home Prices Up in May
- Google News: Atlanta Housing Market Trends
Author: STAFF HERE ATLANTA WRITER
ATLANTA STAFF WRITER The ATLANTA STAFF WRITER represents the experienced team at HEREAtlanta.com, your go-to source for actionable local news and information in Atlanta, Fulton County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as vibrant music festivals like Shaky Knees and Music Midtown, major cultural celebrations including Dragon Con and the Atlanta Film Festival, and iconic sporting events like the Peachtree Road Race. Our coverage extends to key organizations like the Metro Atlanta Chamber of Commerce and the Atlanta Convention & Visitors Bureau, plus leading businesses in logistics, beverages, and retail that power the local economy such as Delta Air Lines, The Coca-Cola Company, and The Home Depot. As part of the broader HERE network, including HEREAugusta.com and HERESavannah.com, we provide comprehensive, credible insights into Georgia's dynamic landscape.
