July Market Report

The end of summer may be past the height of the inventory shortage finally. July 2021 marked the start of what may be a cooldown of the intense Georgia housing market. Though real estate activity is typically strong through the end of summer, we observed multiple areas of month-over-month decreases. For more details on real estate activity in the Atlanta metro core, visit Atlanta Agent Magazine.

Sales Volume

Georgia MLS members across our entire footprint achieved over $4.7 billion in residential home sales during July, an increase of +12.3% over the same period last year  though slightly under last month (-4.0%).  Atlanta Agent Magazine gives the metro housing market a general “thumbs up” despite continued stress in housing inventory.

  • Atlanta MSA: $3.86B (+14.5% y/y, -5.4% m/m)
  • 12-county Atlanta Core: $3.33B (+13.6% y/y, -6.9% m/m)

Sales volume is driven in part by the strong seller’s market conditions as well as increasing median prices. The median Georgia MLS home price remains $315,000 (+19.3% y/y, flat m/m). The Bureau of Labor Statistics reports that rising construction prices are one of the main drivers of increased home prices.

  • Atlanta MSA: $332,500 (+21.0% y/y, -0.4% m/m)
  • 12-county Atlanta Core: $349,000 (+22.5% y/y, -0.3% m/m)

Inventory

12,508 residential units were sold in July 2021 throughout our membership (-5.2% y/y, -3.1% m/m).  Georgia buyers are facing tough competition for properties from institutional buyers who buy homes to flip or turn into single-family renters.

  • Atlanta MSA: 9,776 units sold (-4.8% y/y, -4.1% m/m)
  • 12-county Atlanta Core: 8,067 units sold (-6.1% y/y, -5.4% m/m)

The Georgia MLS membership currently has 15,238 new listings (+3.6% y/y, -2.7% m/m). 13,188 active listings are currently on the market, over a third less of the active listings available last year (-35.4% y/y, +14.0% m/m). 14,767 listings were under contract in July (-12.7% y/y, -5.7% m/m).

  • Atlanta MSA: 11,856 new listings (+2.0% y/y, -2.1% m/m), 9,431 active listings (-37.2% y/y, +14.7% m/m), 11,440 under contract listings (-13.4% y/y, -5.9% m/m)
  • 12-county Atlanta Core: 9,776 new listings (flat y/y, -2.7% m/m), 7,621 active listings (-39.1% y/y, +14.3% m/m), 9,399 under contract listings (-14.0% y/y, -6.0% m/m)

However, active listings across our membership have risen for the third straight month since the record-breaking low in April. As more listings become available, home prices may level out as bidding wars and buyer urgency level out.

As always, Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

5 Valuable Benefits Georgia MLS Offers to Real Estate Professionals

Many professionals in the real estate industry rely on a multiple listing service to monitor the current market in order to effectively communicate listing information to clientele. However, many consumers are unaware of the concept of an MLS, and therefore do not know the importance of what these platforms have to offer.

As a result, the Council of Multiple Listing Services (CMLS) has launched a campaign in order to spread awareness about the different MLS platforms and what all they provide to consumers and real estate professionals. These efforts are being done to provide valuable information and to help consumers gain a better understanding of what an MLS can do for real estate professionals.

Georgia MLS is proud to offer a user-friendly platform full of integrated features for the state of Georgia to utilize for their real estate needs. These five components explain the value and importance of an MLS system for consumers:

Access To Knowledge

Georgia MLS confidently provides a state of the art training institute for those looking to advance their real estate careers. These courses are your one-stop-shop for all training and continuing education needs. The online education forum offers detailed real estate agent, real estate broker, real estate appraiser, and general cram courses guided by licensed professionals. Currently, these courses are offered online to cater to everyone no matter their schedule.

Cooperation

InTheKnow describes an MLS as a central hub where all key information about homes for sale and historical sale prices originates, and where agents work together to get homes bought and sold fairly and efficiently. Buyers and sellers will have all the essential tools necessary to complete transactions and communicate with other professionals. Georgia MLS provides a large platform for those looking to buy or rent, as well as a hub for real estate professionals to store listing information.

Exposure to Buyers

Multiple listing services allow buyers to have a well-rounded experience when it comes to purchasing or renting a property. Whether they’re a first-time home buyer, wanting to rent temporarily, or looking for their forever home, buyers will have everything they need to complete the process through an MLS system. Georgia MLS offers those who are interested an integrated search system that categorizes properties by region, property type and price point. This allows buyers to easily narrow down their search without having to browse through the website.

Marketing Insight

Georgia MLS creates a marketing report each month to give real estate professionals, members and consumers a detailed look into the previous month’s market statistics. This allows our audiences to better understand the market climate and helps prepare them for the coming months ahead. These number reflect the current available listings, sales volume, prices and more categorized by each region in the state of Georgia. This tool is useful to professionals who are wanting to keep track of the market and to see property availability.

Timely Information

The real estate industry is constantly moving, meaning numbers are always fluctuating. Georgia MLS works to provide the most up-to-date information to ensure that our members and real estate professionals have access to accurate listings, statistics, and more. We also have professionals working around the clock to answer any questions or concerns you may have when it comes to your real estate needs. Visit our site to learn more!

These five valuable components of an MLS platform contain profitable information for our consumers. Understanding these key aspects of the real estate forums will allow real estate professionals and members to have a better idea of what it means to enter the real estate industry.

Georgia MLS prides itself on providing an unmatched value for your money when it comes to our professional tools for real estate gurus. We work hard to support our members through our various online platforms and maintaining an active real estate marketplace throughout the state of Georgia.

To learn more, visit www.gamls.com and www.mlsintheknow.org to see how a MLS can benefit you!

Georgia MLS June Market Report

Georgia “saw the single largest monthly increase in housing prices ever recorded”during the month of June in 2021. Visit the Georgia MLS Market Statistics page for historic data visualization of key metrics since 2017. An in-depth exploration of these estate industry metrics is included below. You can also see coverage of this month’s market report from Atlanta Agent Magazine.

Sales Volume

Georgia MLS members across our entire platform achieved almost $5 billion in residential home sales during the month of June, an increase over the same period last year (+34.6%) and over last month (+12.8%). Various factors are contributing to the current market, including a lack of inventory, new buyers migrating to Atlanta from more expensive markets, and construction costs continuing to rise.

  • Atlanta MSA: $4B (+37.6% y/y, +13.2% m/m)
  • 12-county Atlanta Core: $3.5B (+40.1% y/y, +13.9% m/m)

Sales volume is affected by the robust seller’s market conditions as well as increasing median prices. The median Georgia MLS home price is now $315,000 (+23.5% y/y, +3.3% m/m). WSB-TV states that continuous rising real estate prices and low inventory are causing home shoppers to offer way over asking price, and leaving others simply unable to afford homes in the metro Atlanta area.

  • Atlanta MSA: $334,000 (+25.6% y/y, +4.1% y/y)
  • 12-county Atlanta Core: $350,000 (+25.4% y/y, +3.0% m/m)

Inventory

12,848 residential units were sold in June 2021 throughout our membership (+7.7% y/y, +10.6% m/m). Realtor predicts that more homes will come to the market as we progress into late Summer and early Fall, and that first-time home buyers will be faced with more approachable prices. When looking at long-term numbers, experts from CNBC say that the overall housing shortage will be with us for years to come due to the aftermath of the 2008 housing crisis.

  • Atlanta MSA: 10,151 units sold (+9.0% y/y, +10.8% m/m)
  • 12-county Atlanta Core: 8,491 units sold (+10.8% y/y, +11.5% m/m)

The Georgia MLS membership currently has 15,660 new listings, a 10.2% increase from June 2020. 11,573 active listings are currently on the market, less than half of the number of active listings available last year (-48.3% y/y, +10.3% m/m). 15,660 listings were under contract in June (-8.3% y/y, +5.8% m/m).

  • Atlanta MSA: 12,115 new listings (+7.5 y/y, +13.6% m/m); 8,224 active listings (-50.0% y/y, +10.0% m/m); 12,151 under contract listings (-9.6% y/y, +4.6% m/m)
  • 12-county Atlanta Core: 10,048 new listings (+6.0% y/y, +13.9% m/m); 6,667 active listings (-51.0% y/y, +8.5% m/m); 10,003 under contract listings (-10.4% y/y, +4.1% m/m)

The 2021 housing market started off strong, but has experienced a lack of supply and overwhelming demand in the last few months due to rising prices and low inventory. The Atlanta Journal Constitution notes that the recession from 2007 to 2009 has played a large role in the decline of homebuilding, and experts say that it will take time to build out of it. Prices continue to surge, leaving some buyers in a rut and unable to afford homes. However, experts are confident that the market will level out during the rest of 2021.

Georgia MLS is committed to supporting real estate professionals across the state. If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

May Market Report

May 2021 demonstrated another highly active period throughout the Georgia real estate industry. Visit the Georgia MLS Statistics page for historic data visualization of key metrics since 2017. An in-depth exploration of these estate industry metrics is included below. You can also see coverage of this month’s market report from Atlanta Agent Magazine.

Sales Volume

Georgia MLS members across our entire footprint statewide achieved over $4.3 billion in residential home sales during May, an increase over the same period last year (+74.0%) and over April (+3.0%). 

  • Atlanta MSA: $3.58 Billion (+76.4% y/y, +4.5% m/m)
  • 12-county Atlanta Core: $3.1 Billion (+79.8% y/y, +4.9% m/m)

Sales volume is driven in part by the strong seller’s market conditions as well as increasing median prices. The median Georgia MLS home price is now $305,000 (+24.5% y/y, +3.4% m/m). According to Yahoo Money, “The last two stimulus packages significantly reduced the number of Americans suffering from hunger, financial hardship, anxiety and depression, a new study found,” thus supporting overall sales.

  • Atlanta MSA: $320,925 (+24.9% y/y, +3.7% m/m)
  • 12-county Atlanta Core: $339,670 (+25.8% y/y, +4.9% m/m)

Inventory

11,583 residential units were sold in May 2021 throughout our membership (+35.4% y/y, -0.6% m/m). Residential sales did drop slightly compared to last month, due to recent surveys showing that current conditions favor sellers. Reuters notes that the cause of the halt in home sales is caused by the effects of the recent year-long pandemic, reporting that “The improvement of a U.S. economy that had been battered by the COVID-19 pandemic has left a challenging environment for home buyers.”

  • Atlanta MSA: 9,134 units sold (+37.1% y/y, +0.6% m/m)
  • 12-county Atlanta Core: 7,595 (+40.4% y/y, +0.9% m/m)

Our membership currently has 13,728 new listings, a 2.4% increase from May 2020 (-6.7% m/m). 10,493 active listings are currently on the market, less than half of the active listings available last year (-58.1% y/y, +4.8% m/m). 14,808 listings were under contract in May (-1.1% y/y, -2.5% m/m).

  • Atlanta MSA: 10,668 new listings (-1.2% y/y, -7.4% m/m); 7,473 active listings (-59.5% y/y, +2.8% m/m); 11,619 under contract listings (-1.0% y/y, -1.8% m/m)
  • 12-county Atlanta Core: 8,823 new listings (-2.2% y/y, -8.3% m/m); 6,145 active listings (-59.8% y/y, +2.9% m/m); 9,609 under contract listings (-0.1% y/y, -1.3% m/m)

This year’s listing availability has decreased compared to last year’s numbers, due to the COVID-19 pandemic and recent housing market fluctuation. Analysists predict that the market will improve due to the increasing demand and the differences in the market today should give homebuyers confidence that there won’t be a housing market crash, says David Holcomb.

 As always, Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

April Market Statistics

April 2021 continued the trend of a red-hot real estate market across Georgia. Visit the Georgia MLS Statistics page for historic data visualization of key metrics since 2017. An in-depth exploration of these estate industry metrics is included below. You can also see coverage of this month’s market report from Atlanta Agenta Magazine.

Sales Volume

Georgia MLS members across our entire footprint achieved over $4.12 billion in residential home sales during April, an increase over the same period last year (+64.4%) and over last month (+3.4%).  Peak selling season, typically through the spring and summer, has started and will likely continue to feed demand for the next several months.

  • Atlanta MSA: $3.42B (+61.4% y/y, +4.2% m/m)
  • 12-county Atlanta Core: $2.97B (+61.8% y/y, +4.6% m/m)

Sales volume is driven in part by the strong seller’s market conditions as well as increasing median prices. The median Georgia MLS home price is now $295,000 (+15.2% y/y, +5.6% m/m). ABC News reports that, “Low interest rates and remote work have supercharged demand from homebuyers over the past year,” leading to the surge in home prices.

  • Atlanta MSA: $309,907 (+16.9% y/y, +3.6% y/y)
  • 12-county Atlanta Core: $324,250 (+16.8% y/y, +3.3% m/m)

Inventory

11,612 residential units were sold in April 2021 throughout our membership (+35.2% y/y, -1.1% m/m). Residential sales did drop slightly from March to April, possibly due to the gradual easing on pent-up consumer demand as mortgage rates begin to tick back up and vaccines have become widely available. Inventory is also expected to rise, easing market pressures.

  • Atlanta MSA: 9,042 units sold (+33.6% y/y, -1.0% m/m)
  • 12-county Atlanta Core: 7,501 units sold (+34.7% y/y, -0.6% m/m)

The Georgia MLS membership currently has 14,706 new listings, a modest (+5.7%) increase from March 2020. 10,013 active listings are currently on the market, nearly two-thirds less of the active listings available last year (-62.5% y/y, +4.2% m/m). 15,182 listings were under contract in April (+38.3% y/y, -4.9% m/m).

  • Atlanta MSA: 11,521 new listings (+21.7% y/y, +5.0% m/m); 7,267 active listings (-62.6% y/y, +5.6% m/m); 11,831 under contract listings (+36.1% y/y, -5.8% m/m)
  • 12-county Atlanta Core: 9,622 new listings (+22.8% y/y, +6.5% m/m); 5,973 active listings (-62.5% y/y, +6.6% m/m); 9,739 under contract listings (+37.8% y/y, -5.8% m/m)

2021’s real estate activity started strong, and we only anticipate things to heat up throughout the spring and summer high season. Despite the feelings of frenzy, analysts predict that the housing market is not in any danger of a bubble, as in 2008. Both urban and suburban markets are thriving, and, “today the average 30-year fixed-rate mortgage remains near record lows, lenders rely on stricter underwriting requirements, and homeowners have more liquidity.”

As always, Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

Georgia MLS March Market Report

The Georgia real estate industry saw another robust month of activity in March 2021. Visit the Georgia MLS Statistics page for historic data visualization of key metrics since 2017. An in-depth exploration of these estate industry metrics is included below. You can also see coverage of this month’s market report from Atlanta Agent Magazine.

Sales Volume

Georgia MLS members across our entire footprint achieved over $4 billion in residential home sales during February, an increase over the same period last year (+36.6%) and over last month (+41.3%).  A combination of factors, from land/lot shortages for new construction, long-term needs for home offices for remote workers, low interest rates and lack of residential inventory all contribute to rising home prices.

  • Atlanta MSA: $3.26B (+34.9% y/y, +41.5% m/m)
  • 12-county Atlanta Core: $2.8B (+34.4% y/y, +42.1% m/m)

Sales volume is driven in part by the strong seller’s market conditions as well as increasing median prices. The median Georgia MLS home price is now $285,000 (+15.2% y/y, +5.6% m/m). NPR notes that unless more homes are built, particularly homes built in an affordable range for first-time homebuyers, homeownership may become unattainable for a growing segment of Americans.  

  • Atlanta MSA: $299,110 (+15.9% y/y, +5.0% y/y)
  • 12-county Atlanta Core: $313,570 (+16.2% y/y, +6.3% m/m)

Inventory

11,682 residential units were sold in March 2021 throughout our membership (+16.3% y/y, +33.2% m/m). While some economists predict the lack of inventory may ease throughout the spring and summer as life returns to normal, the fact is that “the inventory of available homes for sale is now at a record low, driving competition and home prices ever higher.” Business Insider also notes that a lingering effect of the 2008 recession is a sustained decrease in both construction firms and the construction of entry-level homes.

  • Atlanta MSA: 9,080 units sold (+15.3% y/y, +34% m/m)
  • 12-county Atlanta Core: 7,501 units sold (+14.7% y/y, +33.6% m/m)

The Georgia MLS membership currently has 13,907 new listings, a 6.0% decrease from March2020. 9,609 active listings are currently on the market, less than half of the active listings available last year (-64% y/y, -8.7% m/m). 15,969 listings were under contract in March (+16% y/y, +19.1% m/m).

  • Atlanta MSA: 10,977 new listings (-7.3 y/y, +30.4% m/m); 6,880 active listings (-64.1% y/y, -7.9% m/m); 12,559 under contract listings (+13.7% y/y, +21% m/m)
  • 12-county Atlanta Core: 9,036 new listings (-8.4% y/y, +30.2% m/m); 5,602 active listings (-64.2% y/y, -8.7% m/m); 10,336 under contract listings (+12.7% y/y, +21.8% m/m)

2021’s real estate activity started strong and we only anticipate things to heat up throughout the spring and summer high season.

As always, Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

Updated Listing Input Forms

2021 has brought many welcome changes, from distribution of COVID vaccines to our continued investment in technology for our members. As a part of the connectMLS™ rollout, listing inputs will also change to align with the Real Estate Standards Organization (RESO) guidelines. This ensures consistency of listing types and clean data syndication across multiple listing services nationwide. For more information about specific terms and fields, please visit the RESO Data Dictionary or reach out to Georgia MLS member services at membership@gamls.com. As always, Georgia MLS does not charge listing input fees or transaction fees, and that will not change.

New Property Types

Georgia MLS’ eight current property types will be rolled into six property types under the RESO recommendations. The six new categories are:

*Please be aware that these are sample listing input forms for the sole purpose of providing a visual example of upcoming changes. Official final versions of the updated listing input forms will be found in your GAMLS member portal.

New Features

A few additional changes will be found throughout all types of the new listing input forms. This includes:

  • Green features
    • Green water conservation
    • Green energy efficient
    • Green building verification type
    • Green energy generation
  • Section title changes
    • Listing terms
    • Lot description
    • Building interior
    • Building exterior
    • Utilities

Georgia MLS is committed to supporting real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.

Georgia MLS to Provide connectMLS, A New MLS Solution to its Members!

It has always been our goal to provide members with the best tools and resources so they may better serve their buying and selling clients. In keeping with that objective, Georgia MLS announces a new partnership with dynaConnections Corporation to provide their MLS platform, connectMLS™, to our 45,000 members that make up Georgia’s largest real estate marketplace.    

Created with the end user in mind, connectMLS’s intuitive, feature rich, and mobile friendly solution delivers real estate data via a modern online experience. Built using responsive design technology, the connectMLS platform automatically acclimates to any screen size, or resolution, to seamlessly adapt across all devices and every situation. In other words, connectMLS responds to the user’s preferences and not the other way around. We are confident that connectMLS’s fully customizable solution, and instinctive user interface, will appeal to today’s “modernist” agent.

We are excited to position connectMLS as the flagship system in our “front end of choice” offerings. This platform will be in addition to the Paragon and GAMLS Search interfaces, which will remain available to the member base. So whether the end user desires the modern day interface and integrations of connectMLS, the familiarity of Paragon, or just the “grab and go” ease of GAMLS Search, this concept of multiple front end solutions will accommodate every type of member.

The rollout of connectMLS will begin with Search, View, and Print functionality early March 2021, soon followed by listing entry, listing maintenance, and photo upload.

To help prepare for this exciting new system, Georgia MLS will be offering a variety of training options. Starting with webinars, virtual learning and self-help options, members will have ample opportunities to meet the needs of their schedules. A variety of connectMLS sessions will also qualify for 3 hours of Continuing Education. We strongly encourage all members to attend a training class so that they can take advantage of connectMLS’s powerful capabilities.  

As we start this new year of opportunities, the team at Georgia MLS is committed to providing the tools, technology, and service that will lead to another year of success. Together we make the market work, and together we make homeownership happen.

Reflecting on 2020

“Record-breaking” is a phrase that sums up 2020 in many ways, both for the positive and the negative. The Georgia MLS team wanted to take a few moments to look back on such a pivotal year.

Responding and Adapting to COVID-19

  • Waived over $2 million in membership fees
  • Waived listing withdrawal fee for sellers with COVID-19 concerns
  • Extended Temp on Hold Status from 7-10 days
  • Added 2 new searchable fields for Virtual Open Houses
  • Supported real estate professionals with various resources and encouraged use of virtual technologies

GAMLS Milestones

  • Georgia MLS members set year-over-year records for total residential sales six months in a row
  • Reached an all-time membership high of 45,043
  • Achieved a record high of 3,123 listings closed in a single week during June 7 – 13
  • Surpassed $4 billion in sales for the first time in a single month (July 2020)
  • Contributed over $200,000 to local real estate associations

Technological Investments

  • Implemented new Dashboard for gamls.com
  • Empowered agents with enhancements to Ditto, allowing listing autofills between FMLS, The Lake Country GA MLS, Altamaha Basin MLS, and Classic City MLS
  • Enhanced our market statistics page with interactive monthly snapshots
  • Rolled out new functionality for the consumer-facing website, GeorgiaMLS.com
  • Provided Cloud CMA and Cloud Streams as a member benefit, formerly an add-on subscription
  • Transitioned our online CE education platform from OnCourse to Mbition
  • Premiered the redesigned MLS Tax Suite prospecting function
  • Partnered with Transaction Desk to improve Authentisign and form clauses

Policy Changes

  • Kept members informed of special pandemic stipulations, “on hold” property status. Implemented Coming Soon Status to comply with NAR’s Clear Cooperation Policy 8.0.
  • Updated photo policy guidelines in accordance with national industry standards

While we realize it may be a while before we see anything close to “normal” again, we can’t emphasize enough how proud we are of the entire Georgia MLS membership for making the dream of homeownership continue to happen.

Keeping Up with the Markets

Americans, in general, are living longer and working longer. Professionals in any industry will be required to continue learning to support these longer career spans. Pew reports, “The most valuable workers now and in the future will be those who can combine technical knowledge with human skills and adapt to the changing needs of the workplace.” Lifelong learning and the continuing need for continuing education is the inevitable reality for any professional adult in the workforce and doubly so for real estate professionals. Just this year, virtual home tours and other digitally assisted activities has increased exponentially. Pew suggests that the most successful professionals are “T-shaped” people: Workers with broad general knowledge and deep specific knowledge in one niche area. A particularly important niche for Georgia MLS members is the condition of the real estate market throughout the state and especially within their geographic focus.

Keeping up with the real estate market benefits members in several ways:

  • Understanding the fluctuation of inventory lets members advise clients on the urgency of offers or when the best time to buy or sell might be.
  • Using the data effectively also empowers agent to follow median home prices and predict upcoming market activity or seasonal trends based on the number of new listings, active listings and under contract listings.
  • Allows agents to set themselves apart from competitors with intimate familiarity of the market in their area.

Georgia MLS encourages our members to embrace their full potential by supplementing their experience and expertise with hard data. Clients want someone who has the education and the knowledge of the real estate marketplace to help them navigate through the home buying/selling process. Here are the resources available to every Georgia MLS member:

Georgia MLS offers support and transparency through our member emails so that our members are always in the loop, whether the information be about product and service updates, upcoming continuing education classes or technology tips. In such a competitive market, Georgia MLS strives to provide members with the best tools and information available to set themselves apart from competitors. 

As always, Georgia MLS is available to support real estate professionals across the state.  If you have any questions, please call us at 770-493-9000 or email membership@gamls.com.