Demand: April residential sales were at 6,896, an increase of 28.2% from the previous year.
Price: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in April was $345,000, an increase of 16.9% from last April. The average sales price was $426,000, up 21.5% from the previous year.
Supply: Atlanta area housing inventory totaled 8,023 units in April, a decrease of 52.8% from April 2020. New listings totaled 9,295, up 21.2% from April 2020 and up 4.9% from the previous month. The month’s supply over a 12-month period increased to 1.2 months.
A Word from 2021 Atlanta REALTORS® President Cynthia Lippert:
“Inventory decreases appear to have stabilized over the last few months, albeit, at an extremely low level of only 1.2 months supply.” stated Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association. “Sales are continuing to remain strong with an impressive 28% increase over 2020.”
“This increased activity comes at a price making affordable housing more elusive for an increasing percentage of buyers. The shortage of affordable housing is no longer isolated to the most impoverished segments of our population,” cautions Lippert, noting that first time buyers and lower income professionals like teachers and frontline medical workers in particular are being priced out of the market as the average home price in the metro area exceeded $400,000 for the first time in April.