Georgia MLS January Market Report

Atlanta Housing Market Shows Signs of Life Amid Winter Weather

Atlanta is showing signs of a healthy housing market. Home sales and inventory levels have increased from January 2023, while the median sales price for a home has remained relatively consistent. The Federal Reserve is also anticipated to lower borrowing rates for the first time since August of 2023, likely kickstarting market activity into high gear. Continue reading for a detailed analysis of key metrics, and visit the Georgia MLS Market Statistics Page to view historic metrics since 2019. 

Sales Volume

Georgia MLS agents sold $2.23 billion in residential volume across our membership footprint during January (+11.0% y/y, -22.2% m/m).

• Atlanta MSA: $1.71 billion (+10.5% y/y, -23.4% m/m), 3,912 units sold (+1.1% y/y, -21.0% m/m)
• Atlanta Core: $1.43 billion (+10.9%y/y, -24.2% m/m), 3,123 units sold (+0.9% y/y, -22.0% m/m)

January tends to be one of the slowest times of the year for home sales, with cold weather and post-holiday blues keeping people inside. Even so, the metro Atlanta housing market continues to inch back towards pre-pandemic levels of activity with year-over-year increases in sales volume.  Increased demand is anticipated for the coming months as inflation and mortgage rates continue to cool off – meaning more competition among buyers. 

Sales Price

The median home price held consistent from December as higher than average sales volume, and the relative shortage of homes, kept the market tilted in sellers’ favor. The median sales price across Georgia MLS remained at $350,000 in January, flat month-over-month from December (+5.7% y/y, +0% m/m).

• Atlanta MSA: $374,250 median sales price (+6.9% y/y, +1.1% m/m)
• Atlanta Core: $385,000 median sales price (+6.9% y/y, +0.7% m/m)

Inventory

A much-needed influx of new listings entered the market in January. Sellers were waiting out the holiday season to list their homes for sale, leading to an unusual spike in new listings at the beginning of the year. Still, the metro Atlanta area needs more inventory.  Available listings should equal about six months of sales in a well-balanced market. 11,525 new listings came onto the market in December (+13.2% y/y, +55.8% m/m) with 20,983 total active listings (+10.4% y/y, -2.7% m/m).

• Atlanta MSA:
  • 8,241 new listings (+8.3y/y, +54.9% m/m)
  • 14,153 active listings (+4.8 % y/y, -2.8% m/m)
• Atlanta Core:
  • 6,673 new listings (+9.9% y/y, +56.2% m/m)
  • 11,118 active listings (+6.2% y/y, -2.4% m/m)

The spring selling season is approaching quickly – now is the time to make sure you’re taking advantage of all the tools included in your membership to help meet your goals! Explore our resources, products, and services available to Georgia MLS members to help give you a competitive edge. 

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.