March Market Report

Sales Volume, New Listings Jump as Atlanta Embraces Spring

Atlanta’s housing market continued to warm up in March with sizable increases in both sales volume and newly listed homes for sale. While the increase in listings is a step in the right direction, experts like Georgia MLS Chief Marketing Officer John Ryan say that the market still needs more homes for sale for buyers and sellers to have equal bargaining power. “We are seeing some signs of improvement, but the market is still challenged,” said Ryan in a recent article by the AJC. Despite the listing gap, market activity is still forecasted to accelerate in the coming months. 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 $3.76 billion in residential volume across our membership footprint during March (-0.5% y/y, +24.8% m/m).

• Atlanta MSA: $2.87 billion (-3.1% y/y, +24.8% m/m), 6,056 units sold (-11.9% y/y, +19.5% m/m)
• Atlanta Core: $2.41 billion (-3.6% y/y, +26.8% m/m), 4,859 units sold (-13.2% y/y, +20.6% m/m)

March’s increase in sales volume follows a month of unseasonably high market activity in February, indicating high demand as we head into the busiest months for the housing market. Still, the overall lack of inventory and lingering high interest rates are holding the market back from peak performance. As rates stabilize or decrease in the coming months, a much-needed boost of inventory will likely come onto the market.

Sales Price

The median price of a home rose in March for the second straight month. The scarcity of listings in Atlanta means that more buyers are bidding against each other – driving up the price of homes. The median sales price across Georgia MLS increased by 1.7% from February to $366,000 in March (+4.6% y/y, +1.6% m/m).

• Atlanta MSA: $390,000 median sales price (+6.5% y/y, +1.3% m/m)
• Atlanta Core: $402,000 median sales price (+6.6% y/y, +1.0% m/m)

Inventory

The number of new and active listings continued to grow in March as the Atlanta housing market fortifies its inventory in preparation for its busiest sales months. Although metro Atlanta still needs more listings for a balanced market, inventory is slowly but surely headed towards more ideal levels – active listings in March were 30.6% higher than this same time last year. 13,598 new listings came onto the market in March (+9.8% y/y, +10.6% m/m) with 23,028 total active listings (+30.7% y/y, +5.2% m/m).

• Atlanta MSA:
  • 9,925 new listings (+9.9% y/y, +10.0% m/m)
  • 15,833 active listings (+29.1% y/y, +5.6% m/m)
• Atlanta Core:
  • 8,112 new listings (+11.3% y/y, +9.8% m/m)
  • 12,689 active listings (+33.8% y/y, +6.0% m/m)

As the market continues to work toward a better balance between supply and demand, the potential is high for strong spring and summer sales seasons – but agents will have to be more proactive than ever to make sure their clients are left feeling satisfied with their decision to buy or sell. 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. 

Importing Contacts from Paragon into connectMLS™

Starting May 1st, Paragon will no longer be available through GAMLS and connectMLS will become the principal listing platform for Georgia MLS members.

In preparation for this change, please transfer your saved contacts from Paragon to connectMLS before the May 1 deadline.  

Step-by-Step Instructions for Transferring Contacts >

We recommend that you refrain from entering any new contacts into Paragon from this point forward.

If you need further assistance importing your contacts into connectMLS, please contact Georgia MLS Technical Support.

Email support@gamls.com

Call 800-289-1214 (option 2)

A Note About Your Saved Searches in Paragon

Please be sure to re-enter your essential Saved Searches from Paragon into connectMLS. 

For detailed instructions on this process, please refer to the videos below.

Automatic Searches in connectMLS

Basic Search with Mapping Tools in connectMLS

Basic Search and Setting Defaults in connectMLS

February Market Report

Atlanta Housing Market Rallies for a Late-Winter Surge in Sales

The Atlanta housing market sprung into action earlier in the year than usual, with month-over-month and year-over-year home sales both rising in February. Georgia MLS Chief Marketing Officer, John Ryan, noted the market is just beginning to ramp up and sales activity is forecasted to keep rising in the coming months. “There is still a lot of pent-up demand out there,” said Ryan in a recent article by the AJC. “And once we get past Easter, we’ll really see the market kick into 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 $3.01 billion in residential volume across our membership footprint during February (+11.8% y/y, +31.6% m/m).

• Atlanta MSA: $2.31 billion (+8.4% y/y, +31.7% m/m), 5,037 units sold (-2.9% y/y, +27.6% m/m)
• Atlanta Core: $1.92 billion (+7.4%y/y, +30.3% m/m), 4,002 units sold (-3.9% y/y, +27.0% m/m)

February’s increase in sales volume appears significant when compared to January’s numbers, which is typically one of the slowest months for home sales. However, sales volume is also notably higher than at this same time in 2023, signaling a rise in demand for the coming year. Mortgage rates remained at higher-than-ideal levels in February, so as rates stabilize or decrease, additional inventory and demand will be unlocked.

Sales Price

The median price of a home rose in February after several months of relatively flat growth, driven by the surge in demand, keeping the market tilted in favor of sellers. The median sales price across Georgia MLS increased by 2.8% from January to $359,900 in February (+4.6% y/y, +2.8% m/m).

• Atlanta MSA: $385,000 median sales price (+6.9% y/y, +2.7% m/m)
• Atlanta Core: $397,450 median sales price (+6.7% y/y, +3.2% m/m)

Inventory

The number of new and active listings on the market grew in February alongside the rise in demand. Still, metro Atlanta needs more listings for a balanced market. Available listing should equal about six months of available listings for buyers and sellers to have equal bargaining power. 12,290 new listings came onto the market in February (+27.4% y/y, +6.6% m/m) with 21,894 total active listings (+23.5% y/y, +4.3% m/m).

• Atlanta MSA:
  • 9,019 new listings (+25.2% y/y, +9.5% m/m)
  • 14,998 active listings (+20.7% y/y, +6.0% m/m)
• Atlanta Core:
  • 7,388 new listings (+28.7% y/y, +10.7% m/m)
  • 11,975 active listings (+24.9% y/y, +7.7% m/m)

The spring selling season is now underway – are you taking advantage of all the tools included in your membership to help satisfy your clients? 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.

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. 

Discontinution of Paragon

Important Update to Your GAMLS Service

To align with strategic initiatives and pave the way for future enhancements, Paragon MLS will no longer be offered to Georgia MLS members and will be discontinued May 1, 2024. In its place, connectMLS will become the primary listing platform for Georgia MLS. 

Available since 2021, connectMLS has proven to meet the needs of our members with its robust set of tools, user-friendly interface, and responsive mobile access. We are confident that connectMLS fulfills all your client requirements.

GETTING FAMILIAR WITH CONNECTMLS

To support a seamless transition away from Paragon, we have assembled a comprehensive library of LIVE and ON-DEMAND training options including the highly attended connectMLS “Boot Camp” series. 

connectMLS Training Options

Access Our Robust Library of connectMLS Resources and Sign Up for Training Sessions, including the connectMLS Boot Camp Series!

In addition to our training options, you can always refer to our resource page located after the gamls.com login, under the ‘Support’ dropdown, then select ‘connectMLS’. For hands-on assistance, our fantastic Technical Support team is available at 770-493-9000, Option 2. 

Georgia MLS Year-End Numbers for 2023

2023 Compared to 2022

2023 was yet another incredible year for Georgia MLS members, boasting an impressive 105,100 listings sold and $42.7 billion total sales volume across membership. Congratulations to our members for making homeownership happen for their clients in 2023!

These end-of-year numbers set Georgia MLS apart as the largest real estate marketplace not only in the state, but also in the Atlanta Metropolitan area by a substantial margin. Spanning from the North Georgia Mountains to the Georgia Coastline, our extensive database equips Georgia MLS members with valuable resources to serve all their buyers and sellers.

With 2023 in the rearview mirror, we are excited to present the year-end statistics for all Georgia MLS areas as well as specific statistics for the 12-county Metropolitan Atlanta region.

December Market Report

Atlanta Housing Market Poised for a Hot 2024 as Rates Continue to Cool

The metro Atlanta housing market closed out the year following many of the trends seen since mid-2021, when the market hit a sales peak. High home prices, partially caused by low inventory, and high mortgage interest rates remain key factors in slower-than-average home sales. But experts, like Georgia MLS Chief Marketing Officer John Ryan, don’t see these trends as cause for concern heading into 2024. “I see the drop-off, but 2022 was such a record year and the market just couldn’t sustain that,” said Ryan, in a recent article by the Atlanta Journal-Constitution, stating, “We are still a very active market.” Despite ongoing challenges, Zillow analysts predict Atlanta will be among the hottest housing markets in the United States in 2024. 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 $2.84 billion in residential volume across our membership footprint during December (-1.6% y/y, -1.1% m/m).

• Atlanta MSA: $2.20 billion (-2,9% y/y, +0.7% m/m), 4,887 units sold (-9.7% y/y, +1.4% m/m)
• Atlanta Core: $1.86 billion (-1.4% y/y, +1.8% m/m), 3,952 units sold (-8.7% y/y, +2.1% m/m)

Home sales remained relatively consistent month over month and year over year, dropping just slightly in December. As inflation and mortgage rates continue to cool off, an increase in demand is anticipated for the coming months – which also means more competition among buyers.

Sales Price

Although home prices slid from November, relatively low inventory has kept them higher than this same time last year, as the market remains tilted with an advantage towards sellers. The median sales price across Georgia MLS decreased by 2.5% from November to $350,000 in December (+3% y/y, -2.5% m/m).

• Atlanta MSA: $370,000 median sales price (+2.8% y/y, -2.6% m/m)
• Atlanta Core: $381,625 median sales price (+3.1% y/y, -3.4% m/m)

Inventory

Despite a significant decrease in new and active listings since November, current inventory levels are an improvement over December of 2022, continuing the slow climb back towards pre-pandemic levels. Still, a well-balanced market needs more inventory. Available listings amount to less than three months of sales. 7,396 new listings came onto the market in December (+2.3% y/y, -26.5% m/m) with 21,569 total active listings (+5.1% y/y, -7.5% m/m).

• Atlanta MSA:
  • 5,320 new listings (-0.9 y/y, -26.8% m/m)
  • 14,561 active listings (-1.2 % y/y, -8.5%  m/m)
• Atlanta Core:
  • 4,271 new listings (-1.8% y/y, -27.5% m/m)
  • 11,393 active listings (-0.5% y/y, -8.8% m/m)

With the new year bringing new challenges and opportunities, 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

November Market Report

Atlanta Housing Market Sees Uptick in Active Listings Amid Seasonal Slowdown

As sales activity in the Atlanta housing market continues to slow heading into the winter months, several other factors have contributed to chillier market conditions than usual at this time of year. The average rate for a 30-year mortgage was 7.66% at the end of November, up from 6.97% in November of 2022. However, mortgage rates slightly declined in recent weeks, and with inflation finally beginning to cool, we may have seen the last of rate increases from the Federal Reserve. Nevertheless, high borrowing rates remain a cause for hesitation for many potential buyers. 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 $2.83 billion in residential volume across our membership footprint during November (+0.2% y/y, -11.2% m/m).

• Atlanta MSA: $2.16 billion (-3.5% y/y, -11.9% m/m), 4,740 units sold (-11.5% y/y, -11.3% m/m)
• Atlanta Core: $1.8 billion (-3.7% y/y, -12.2% m/m), 3,809 units sold (-11.9% y/y, -11.3% m/m)

The Federal Reserve’s campaign to curb inflation by raising short-term rates has been a hit to both sides of the market equation. While these increases don’t directly move mortgage rates, they tend to echo the Fed’s changes. As inflation cools and mortgage rates continue to come down in response, the demand for homes will likely increase in turn.

Sales Price

Home prices remained relatively consistent in November, as relatively low inventory and high mortgage rates kept the market tilted toward the sellers’ advantage. The median sales price across Georgia MLS decreased by 0.3% from October to $359,000 in November (+4.1% y/y, -0.3% m/m).

• Atlanta MSA: $380,250 median sales price (+4.3% y/y, -1.2% m/m)
• Atlanta Core: $395,000 median sales price (+5.4% y/y, -1.2% m/m)

Inventory

Although inventory remains lower than ideal levels, active listings are approaching pre-pandemic levels. In a balanced market, supply should roughly equal six to seven months of sales. As it currently stands, available listings amount to less than three months of sales. 10,056 new listings came onto the market in November (+9.6% y/y, -16.4% m/m) with 23,314 total active listings (+2.8% y/y, +1.8% m/m).

• Atlanta MSA:
  • 7,264 new listings (+5.9% y/y, -16.9% m/m)
  • 15,913 active listings (-3.1 % y/y, +1.1%  m/m)
• Atlanta Core:
  • 5,894 new listings (+7.2% y/y, -17.5% m/m)
  • 12,486 active listings (-3.2% y/y, +1.1% m/m)

As the market slows for the winter months, now is a great time to refresh your skills in preparation for the coming year! 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@GeorgiaMLS.com.

New Member Benefit: FOREWARN

Georgia MLS is excited to announce that we have partnered with FOREWARN to provide a PROACTIVE SAFETY AND LEAD INTELLIGENCE service to all GAMLS members at no additional cost!

FOREWARN helps you prioritize your personal safety, as well as adds a layer of protection to your listing homeowners and their families. 

Instantly Verify:

• Identity (first name, last name, alias, and age)
• Phone numbers (residential and mobile history)
• Address history (rental, ownership, and associated addresses) 
• Financial indicators (bankruptcy, lien, judgment, and foreclosure history)
• Property records (nationwide property ownership history)
• Criminal records (nationwide criminal history search)

Setting Up Your Complimentary FOREWARN Account

1. SIGN UP  Note: Use the same email address that is associated with your GAMLS account. 

2. Forewarn will send an activation link to your email.  Be sure to check your junk/spam folder.  If you do not receive the email, please contact FOREWARN Support at 561.757.4551.

3. Enter the authentication code that you receive via text.  Upon completion, you will be prompted to create a password. If you do not receive the authentication code, FOREWARN may have the wrong phone number on file. Please contact FOREWARN Support at 561.757.4551 to update them with your correct cell phone number.

You will need to access FOREWARN via the FOREWARN mobile app or through forewarn.com.  At this time, FOREWARN cannot be accessed through GAMLS.

Download the FOREWARN app

Learn More About Using FOREWARN in this Introductory Video >

Georgia MLS September Market Report

Lingering High-Interest Rates Spur Early Seasonal Chill in the Market

Autumn normally brings with it an expected decline in market activity – this year, the change in seasons coincided with the highest mortgage rates since 2000, contributing to a significant drop off in sales compared to September 2022. Although rates have been below 7% since last November, the average 30-year mortgage rate climbed as high as 7.5% in September, which is notable compared to an average rate of 6.6% a year ago and 2.99% two years ago. Despite these rates cutting the purchasing power of many potential homebuyers, many buyers are still actively looking to lock in new addresses before the holiday season. Continue reading for 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 $3.37 billion in residential volume across our membership footprint during the month of August (-12.9% y/y, -15.0% m/m).

• Atlanta MSA: $2.55 billion (-16.9% y/y, -17.5% m/m), 5,573 units sold (21.4% y/y, -16.3% m/m)
• Atlanta Core: $2.14 billion (-17.8% y/y, -18.5% m/m), 4,505 units sold (-21.7% y/y, -16.7% m/m)

Some buyers are responding to uncertainty around interest rates by adjusting their criteria to search for less costly homes or putting off their home searches altogether, while others may decide to buy now and refinance when rates eventually cool off. The decline in overall sales means a ripple effect throughout the real estate industry, including brokers, lenders, appraisers, home inspectors, accountants and attorneys.

Sales Price

Despite the chill in the market, the median sales price of a home in Atlanta has remained fairly consistent. Relatively low inventory has tilted the market toward the sellers’ advantage, keeping home prices from dropping. The median sales price across Georgia MLS decreased by 1.4% from August to $365,000 in September (+3.1% y/y, -1.4% m/m).

• Atlanta MSA: $384,990 median sales price (+3.5% y/y, -1.3% m/m)
• Atlanta Core: $395,000 median sales price (+2.3% y/y, -2.2% m/m)

Inventory

Less-than-ideal inventory is another factor contributing to the slowdown in sales. There were 4.7% available listings on the market in September, representing about two months of sales. In a balanced market, that supply should roughly equal six to seven months of sales. This means that potential buyers face competition for their ideal homes, with multiple offer situations on many properties. 11,850 new listings came onto the market in September (-8.7% y/y, -7.5% m/m) with 21,704 total active listings (-4.7% y/y, +6.6% m/m).

• Atlanta MSA:
  • 8,632 new listings (-12.7% y/y, -6.5% m/m)
  • 14,871 active listings (-10.2 % y/y, +6.8% m/m)
• Atlanta Core:
  • 6,964 new listings (-13.3% y/y, -6.2% m/m)
  • 11,667 active listings (-11.5% y/y, +6.8% m/m)

With ongoing challenges in the housing market as we head into the fall, make sure you’re taking advantage of all of the tools at your disposal to stay ahead! 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@GeorgiaMLS.com.

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