Demand: November residential sales were at 6,240, a decrease of 2.8% from the previous year.
Price: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in November was $372,000, an increase of 21.6% from last November. The average sales price was $445,000, up 19.1% from the previous year.
Supply: Atlanta area housing inventory totaled 7,831 units in November, a decrease of 25.8% from November 2020. New listings totaled 6,253, down 1.3% from November 2020 and down 20.7% from the previous month. The month’s supply over a 12-month period decreased to 1.1 months.
A Word from 2021 Atlanta REALTORS® President Cynthia Lippert:
“The theme throughout 2021 of rising prices and desperately low inventory have challenged sales figures month after month despite an all-time high of activity, “ reported Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association as inventory in November was 25% lower than this time last year. “Buyers may be hoping to take advantage of a seasonal lull in activity, but we’ve yet to see one, and until we get more supply of housing across price points, we’re not going to see one anytime soon.”