2024 Q1 ATLANTA,GEORGIA MARKET SNAPSHOT ANGELINA WILLIAMS • ENGEL & VÖLKERS ATLANTA 6681 Roswell Road | Sandy Springs | Georgia 30328 O +1 404-845-7724 | M +1 470-309-4612 angelina.williams@evatlanta.com | angelinawilliams.evatlanta.com
Market Snapshot
2024 Q1 ATLANTA,GEORGIA
Single-Family Homes
Condominiums
Townhomes
Inside the Perimeter 8 - 27 Outside the Perimeter 28 - 45 Inside the Perimeter 46 - 55 Outside the Perimeter 56 - 61 Inside the Perimeter 62 - 72 Outside the Perimeter 72 - 86 Market Overview 4 - 7
Market Overview
On the heels of a trailing market in Q4 2023, Q1 2024 bounced back from record lows in December 2023. By the second week of January, it was evident that the spring market was in gear. Thirty-year mortgage interest rates moderated from a high of 7.79% in October 2023 to 6.79% in March 2024. New listings increased by 31% to 20,699 units, and pending sales increased by 33.43% to 13,941 units. Closed sales decreased by 1.04%; however, this is due to many pending sales from March that will be closing in April. The months of inventory remained stable with a slight decrease of 4.0% to 2.4 months.
Two factors continue to drive the market: New listings and Mortgage Interest Rates. It is worth noting that both carry equal weight in influencing the market dynamics of the Metro Region.
As demonstrated in the Metro Atlanta Supply Dynamics Summary graph, New Listings reached a record low of 3,849 units in Q4 2023 and increased substantially to 7,569 units in Q1 2024. Months of Supply, Pending Sales, and Closed Sales all follow the New Listing trendline, indicating that New Listings are a driving force in the market.
The Metro Atlanta Pending and Closed Sales vs. 30-Year Interest Rates graph demonstrates that
as mortgage interest rates rise and fall, Pending Sales and Closed Sales inverse. In May 2022, mortgage interest rates rose to 5.1%, then increased to 7.08% in October 2022 and fell to 6.13% in January 2023, slowly rising to a high of 7.79% in October 2023 before falling to 6.61% in December 2023. In each of these peaks and valleys, market data demonstrates that consumers’ psychological thresholds regarding mortgage interest rates
Q1 2024 at a Glance
11,614 Homes Sold
$503,700 Average Sale Price
2.4 Months of Inventory
38 Average Days On Market
Source: FMLS InfoSparks, Greater Atlanta Area (Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry, and Rockdale Counties) All home types, All price points, Rolling 3-months as of March 2024
Q1 2024 Atlanta Market Snapshot 4 evatlanta.com
changed from 5% in May 2022 to 6% in January 2023 and finally 7% in August 2023.
It comes as no surprise that these two factors also affect the Average Sale Price across Metro Atlanta. As demonstrated in the Metro Atlanta New Listings Impact on Average Sale Price graph, the Average Sale Price reached a low of $441,347 in January 2023, peaked at $528,367 in June 2023, fell again to $481,019 by January 2024, only to rise again to $526,170 in March 2024. These highs and lows all trend with increases and decreases in New Listings and Mortgage Interest Rates.
The Federal Reserve continues to rein in inflation, and progress has been made, but consumer spending and job stability and growth continue to make them hawkish and reluctant to decrease rates. Optimistic home buyers and sellers watch mortgage interest rates and are planning to make a move based on projections that rates will moderate. For others, life is moving forward; they must make a move and have decided to sell or purchase and either negotiate concessions or rate buy-downs to reduce their costs or maximize their profits.
Most submarkets in Metro Atlanta are trending in line with the Metro Atlanta data; however, there are outliers that trail the market or exceed the
averages. Some are buyer’s markets where buyers can negotiate more favorable prices or concessions, and others are seller’s markets where homebuyers are in multiple offer situations.
Projections for Atlanta’s future point to exponential growth. As a whole, historic deficits in home inventory in Metro Atlanta coupled with high demand will continue to mean stability and appreciation for homeowners. Savvy homebuyers understand these facts, know it is a great time to be in the market in Atlanta, and are finding the path to homeownership that meets their needs.
The rest of this report provides a snapshot of key metrics by home type (single-family homes, townhomes, and condominiums) and submarket, including neighborhoods and cities Inside the Perimeter (ITP) and Outside the Perimeter (OTP).
To learn more about homes selling in your neighborhood or your dream location, reach out to your Engel & Völkers Advisor for more detailed information about trends in your area.
Christa Huffstickler Founder & CEO Engel & Völkers Atlanta
Q1 2024 Atlanta Market Snapshot 5 evatlanta.com
Metro Atlanta Market Summary (Q1 2024)
q Down Quarter-Over-Quarter (QOQ) p Up Quarter-Over-Quarter (QOQ)
Source: FMLS InfoSparks, Greater Atlanta Area/City of Atlanta/ITP, All home types, All price points, Rolling 3-months as of March 2024 (Q1 2024 over Q4 2023 change compared to rolling 3-months as of December 2023)
Metro Atlanta Supply Dynamics Summary (January 2022 - March 2024)
FMLS InfoSparks, Greater Atlanta Area, All Home Types, January 2022 - March 2024
Q1 2024 Atlanta Market Snapshot 6 evatlanta.com
Metro Atlanta City of Atlanta ITP Closed Sales 11,614 q -1.04% 2,023 q -1.61% 2,275 q -1.22% Pending Sales 13,941 p +33.43% 2,487 p +38.24% 2,878 p +43.04% Active Listings 10,984 q -1.80% 2,854 p +4.05% 3,165 p +4.21% New Listings 20,699 p +31% 4,573 p +37.82% 5,148 p +38.8% Median Sale Price $415,000 p +1.22% $420,000 0.0% $448,000 p +0.11% Average Sale Price $503,700 q -0.02% $581,277 q -0.02% $607,335 q -0.89% Average Price Per Square Foot $213 p +0.47% $276 q -1.08% $287 q -0.35% Average Sale Price to Original List Price Ratio 97.3% p +0.31% 96.4% p +0.31% 96.5% p +0.42% Months of Inventory 2.4 q -4.0% 3.6 p +2.86% 3.5 p +2.94% Average Days on Market 38 p +18.75% 42 p +16.67% 40 p +17.65%
Metro Atlanta New Listings Impact on Average Sale Price
Metro Atlanta Pending and Closed Sales vs. Interest Rates (January 2022 - March 2024)
- March 2024,
Mortgage Interest Rates January 2022 - March 2024
Q1 2024 Atlanta Market Snapshot 7 evatlanta.com
FMLS InfoSparks, Greater Atlanta Area, All Home Types, January 2022
Freddi Mac, Weekly
FMLS InfoSparks, Greater Atlanta Area, All Home Types, January 2022 - March 2024
Single-Family Homes
INSIDE THE PERIMETER
Source: FMLS, InfoSparks, Q1
Q1 2024 Atlanta Market Snapshot 9 evatlanta.com
Ansley Park / Sherwood Forest SINGLE-FAMILY HOMES Avondale Estates SINGLE-FAMILY HOMES $1,125,000 Median Closed Sales Price Homes Sold 3 Months of Inventory 4.9 Average Days On Market 21 $1,316,667 Average Closed Sales Price $520,000 Median Closed Sales Price Homes Sold 2 Months of Inventory 2.4 Average Days On Market 20 $520,000 Average Closed Sales Price
2024 (1/1/24 to 3/31/24)
$1,365,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 10 evatlanta.com
Brookhaven SINGLE-FAMILY HOMES Brookwood Hills SINGLE-FAMILY HOMES $835,000 Median Closed Sales Price Homes Sold 51 Months of Inventory 2.2 Average Days On Market 19 $955,528 Average Closed Sales Price
Median Closed Sales Price Homes Sold
Months of Inventory 3.2 Average Days On Market 54
Average Closed Sales Price
3
$1,963,333
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 11 evatlanta.com
Buckhead SINGLE-FAMILY HOMES Cabbagetown SINGLE-FAMILY HOMES $1,288,800 Median Closed Sales Price Homes Sold 179 Months of Inventory 4.0 Average Days On Market 35 $1,674,431 Average Closed Sales Price
Median Closed Sales Price Home Sold
Months of Inventory 0.7 Average Days On Market 3 $425,000 Average Closed Sales Price
$425,000
2
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 12 evatlanta.com
Cascade East SINGLE-FAMILY HOMES Cascade West SINGLE-FAMILY HOMES $295,000 Median Closed Sales Price Homes Sold 33 Months of Inventory 4.5 Average Days On Market 52 $297,104 Average Closed Sales Price $292,500 Median Closed Sales Price Homes Sold 44 Months of Inventory 3.8 Average Days On Market 42 $344,139 Average Closed Sales Price
$2,816,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 13 evatlanta.com
Chamblee SINGLE-FAMILY HOMES Chastain Park
$511,500 Median Closed Sales Price Homes Sold 16 Months of Inventory 1.5 Average Days On Market 25 $495,031 Average Closed Sales Price
SINGLE-FAMILY HOMES
Median Closed Sales Price Homes Sold 9 Months of Inventory 2.6 Average Days On Market 54 $3,309,944 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 14 evatlanta.com
College Park SINGLE-FAMILY HOMES Collier Hills/ Ardmore Park SINGLE-FAMILY HOMES $250,000 Median Closed Sales Price Homes Sold 5 Months of Inventory 4.7 Average Days On Market 55 $289,600 Average Closed Sales Price $970,000 Median Closed Sales Price Home Sold 6 Months of Inventory 0.8 Average Days On Market 29 $1,052,750 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 15 evatlanta.com
Decatur SINGLE-FAMILY HOMES Druid Hills/ Emory SINGLE-FAMILY HOMES $750,250 Median Closed Sales Price Homes Sold 25 Months of Inventory 2.0 Average Days On Market 30 $891,399 Average Closed Sales Price $1,150,000 Median Closed Sales Price Homes Sold 19 Months of Inventory 2.1 Average Days On Market 31 $1,269,316 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 16 evatlanta.com
East Atlanta
East Lake
$450,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 2.0 Average Days On Market 16 $526,740 Average Closed Sales Price
Median Closed Sales Price Homes Sold 11 Months of Inventory 3.2 Average Days On Market 116 $821,041 Average Closed Sales Price
SINGLE-FAMILY HOMES
SINGLE-FAMILY HOMES
$755,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 17 evatlanta.com
East Point SINGLE-FAMILY HOMES Edgewood SINGLE-FAMILY HOMES $295,000 Median Closed Sales Price Homes Sold 49 Months of Inventory 5.4 Average Days On Market 58 $291,897 Average Closed Sales Price
Median Closed Sales Price Homes Sold 11 Months of Inventory 3.3 Average Days On Market 44 $651,727 Average Closed Sales Price
$670,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 18 evatlanta.com
Garden Hills SINGLE-FAMILY HOMES Grant Park/ Glenwood Park
HOMES $1,164,000 Median Closed Sales Price Homes Sold 11 Months of Inventory 3.5 Average Days On Market 45 $1,173,091 Average Closed Sales Price
Median Closed Sales Price Homes Sold 18 Months of Inventory 1.5 Average Days On Market 26 $700,362 Average Closed Sales Price
SINGLE-FAMILY
$682,500
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 19 evatlanta.com
Hapeville/ Thomasville SINGLE-FAMILY HOMES Inman Park SINGLE-FAMILY HOMES $358,500 Median Closed Sales Price Homes Sold 14 Months of Inventory 4.8 Average Days On Market 63 $359,279 Average Closed Sales Price
Median Closed Sales Price Homes Sold
Months of Inventory 2.2 Average Days On Market 20 $1,497,500 Average Closed Sales Price
$1,497,500
2
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 20 evatlanta.com
Kirkwood SINGLE-FAMILY HOMES Lake Claire/ Little Five Points SINGLE-FAMILY HOMES $560,000 Median Closed Sales Price Homes Sold 19 Months of Inventory 2.3 Average Days On Market 22 $542,961 Average Closed Sales Price
Median Closed Sales Price Homes Sold 13 Months of Inventory 1.6 Average Days On Market 20 $979,480 Average Closed Sales Price
$925,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 21 evatlanta.com
Oakhurst SINGLE-FAMILY HOMES Midtown SINGLE-FAMILY HOMES $1,088,750 Median Closed Sales Price Home Sold 8 Months of Inventory 3.0 Average Days On Market 40 $1,233,469 Average Closed Sales Price
Median Closed Sales Price Homes Sold 8 Months of Inventory 2.1 Average Days On Market 18 $1,048,214 Average Closed Sales Price
$1,000,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 22 evatlanta.com
Old Fourth Ward SINGLE-FAMILY HOMES Ormewood Park SINGLE-FAMILY HOMES $942,500 Median Closed Sales Price Homes Sold 5 Months of Inventory 5.0 Average Days On Market 40 $991,500 Average Closed Sales Price $685,000 Median Closed Sales Price Homes Sold 14 Months of Inventory 1.7 Average Days On Market 37 $698,361 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 23 evatlanta.com
Peachtree Hills SINGLE-FAMILY HOMES Peoplestown/Chosewood Park/Lakewood Heights SINGLE-FAMILY HOMES $850,000 Median Closed Sales Price Homes Sold 14 Months of Inventory 2.0 Average Days On Market 35 $859,214 Average Closed Sales Price $328,500 Median Closed Sales Price Homes Sold 42 Months of Inventory 4.3 Average Days On Market 41 $398,438 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 24 evatlanta.com
Reynoldstown SINGLE-FAMILY HOMES Summerhill SINGLE-FAMILY HOMES $712,125 Median Closed Sales Price Homes Sold 5 Months of Inventory 1.2 Average Days On Market 42 $656,225 Average Closed Sales Price $636,000 Median Closed Sales Price Homes Sold 3 Months of Inventory 2.0 Average Days On Market 15 $570,332 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 25 evatlanta.com
Vinings SINGLE-FAMILY HOMES Virginia Highlands/ Morningside SINGLE-FAMILY HOMES $912,500 Median Closed Sales Price Homes Sold 12 Months of Inventory 3.3 Average Days On Market 35 $990,979 Average Closed Sales Price
Median Closed Sales Price Homes Sold 26 Months of Inventory 2.1 Average Days On Market 24 $1,197,037 Average Closed Sales Price
$1,139,984
Q1 2024 Atlanta Market Snapshot 26 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) West End/Adair Park/ Capitol View SINGLE-FAMILY HOMES West Midtown/ Underwood Hills SINGLE-FAMILY HOMES $339,000 Median Closed Sales Price Homes Sold 111 Months of Inventory 5.3 Average Days On Market 48 $352,349 Average Closed Sales Price $536,250 Median Closed Sales Price Homes Sold 56 Months of Inventory 3.2 Average Days On Market 41 $544,835 Average Closed Sales Price
Single-Family Homes
OUTSIDE THE PERIMETER
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 29 evatlanta.com
Acworth Alpharetta SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES $415,000 Median Closed Sales Price Homes Sold 243 Months of Inventory 1.8 Average Days On Market 35 $453,482 Average Closed Sales Price $785,000 Median Closed Sales Price Homes Sold 223 Months of Inventory 1.9 Average Days On Market 30 $923,851 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 30 evatlanta.com
2024
Canton SINGLE-FAMILY HOMES $543,000 Median Closed Sales Price Homes Sold 343 Months of Inventory 2.2 Average Days On Market 37 $590,718 Average Closed Sales Price Buford SINGLE-FAMILY HOMES $515,000 Median Closed Sales Price Homes Sold 199 Months of Inventory 2.3 Average Days On Market 47 $565,763 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to 3/31/24)
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 31 evatlanta.com
Chattahoochee Hills SINGLE-FAMILY HOMES Clarkston SINGLE-FAMILY HOMES $1,350,000 Median Closed Sales Price Homes Sold 2 Months of Inventory 8.2 Average Days On Market 24 $1,350,000 Average Closed Sales Price $331,000 Median Closed Sales Price Homes Sold 12 Months of Inventory 2.4 Average Days On Market 53 $323,358 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 32 evatlanta.com
2024
Douglasville SINGLE-FAMILY HOMES $325,000 Median Closed Sales Price Homes Sold 277 Months of Inventory 3.1 Average Days On Market 47 $359,660 Average Closed Sales Price Cumming SINGLE-FAMILY HOMES $623,000 Median Closed Sales Price Homes Sold 447 Months of Inventory 1.6 Average Days On Market 11 $662,294 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to 3/31/24)
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 33 evatlanta.com
Duluth SINGLE-FAMILY HOMES Dunwoody
HOMES $530,000 Median Closed Sales Price Homes Sold 112 Months of Inventory 1.3 Average Days On Market 30 $655,081 Average Closed Sales Price $672,000 Median Closed Sales Price Homes Sold 47 Months of Inventory 0.9 Average Days On Market 20 $747,492 Average Closed Sales Price
SINGLE-FAMILY
Q1 2024 Atlanta Market Snapshot 34 evatlanta.com
2024
3/31/24) Fairburn SINGLE-FAMILY HOMES $378,990 Median Closed Sales Price Homes Sold 118 Months of Inventory 3.0 Average Days On Market 37 $382,349 Average Closed Sales Price East Cobb SINGLE-FAMILY HOMES $545,000 Median Closed Sales Price Homes Sold 389 Months of Inventory 1.4 Average Days On Market 30 $621,278 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 35 evatlanta.com
Fayetteville SINGLE-FAMILY HOMES Johns Creek SINGLE-FAMILY HOMES $468,749 Median Closed Sales Price Homes Sold 69 Months of Inventory 4.4 Average Days On Market 45 $498,988 Average Closed Sales Price $879,999 Median Closed Sales Price Homes Sold 65 Months of Inventory 0.9 Average Days On Market 17 $979,979 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 36 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Lawrenceville SINGLE-FAMILY HOMES $400,000 Median Closed Sales Price Homes Sold 483 Months of Inventory 1.8 Average Days On Market 35 $424,821 Average Closed Sales Price Kennesaw SINGLE-FAMILY HOMES $415,900 Median Closed Sales Price Homes Sold 171 Months of Inventory 1.5 Average Days On Market 32 $478,323 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 37 evatlanta.com
Mableton SINGLE-FAMILY HOMES Marietta SINGLE-FAMILY HOMES $412,740 Median Closed Sales Price Homes Sold 102 Months of Inventory 1.8 Average Days On Market 33 $426,227 Average Closed Sales Price $495,000 Median Closed Sales Price Homes Sold 575 Months of Inventory 1.6 Average Days On Market 31 $580,896 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 38 evatlanta.com
Milton SINGLE-FAMILY HOMES $1,054,000 Median Closed Sales Price Homes Sold 46 Months of Inventory 3.5 Average Days On Market 41 $1,488,090 Average Closed Sales Price McDonough SINGLE-FAMILY HOMES $383,315 Median Closed Sales Price Homes Sold 154 Months of Inventory 4.2 Average Days On Market 56 $412,900 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 39 evatlanta.com
Norcross SINGLE-FAMILY HOMES Peachtree City SINGLE-FAMILY HOMES $363,350 Median Closed Sales Price Homes Sold 54 Months of Inventory 0.9 Average Days On Market 31 $435,504 Average Closed Sales Price $650,000 Median Closed Sales Price Homes Sold 17 Months of Inventory 2.1 Average Days On Market 41 $645,928 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 40 evatlanta.com Roswell SINGLE-FAMILY HOMES $700,000 Median Closed Sales Price Homes Sold 172 Months of Inventory 1.1 Average Days On Market 25 $764,640 Average Closed Sales Price Peachtree Corners SINGLE-FAMILY HOMES $649,950 Median Closed Sales Price Homes Sold 38 Months of Inventory 1.1 Average Days On Market 33 $684,994 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 41 evatlanta.com
Sandy Springs SINGLE-FAMILY HOMES Smyrna
HOMES $900,000 Median Closed Sales Price Homes Sold 77 Months of Inventory 2.2 Average Days On Market 36 $1,181,645 Average Closed Sales Price $500,000 Median Closed Sales Price Homes Sold 136 Months of Inventory 1.4 Average Days On Market 27 $534,928 Average Closed Sales Price
SINGLE-FAMILY
Q1 2024 Atlanta Market Snapshot 42 evatlanta.com
2024
South Fulton SINGLE-FAMILY HOMES $302,500 Median Closed Sales Price Homes Sold 21 Months of Inventory 6.4 Average Days On Market 29 $331,628 Average Closed Sales Price Snellville SINGLE-FAMILY HOMES $362,450 Median Closed Sales Price Homes Sold 180 Months of Inventory 2.0 Average Days On Market 33 $377,859 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to 3/31/24)
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 43 evatlanta.com
Sugar Hill SINGLE-FAMILY HOMES $509,000 Median Closed Sales Price Homes Sold 62 Months of Inventory 1.3 Average Days On Market 29 $533,385 Average Closed Sales Price Stone Mountain SINGLE-FAMILY HOMES $289,750 Median Closed Sales Price Homes Sold 220 Months of Inventory 2.3 Average Days On Market 31 $306,182 Average Closed Sales Price
$450,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 44 evatlanta.com
Suwanee
Tucker
SINGLE-FAMILY HOMES
Median Closed Sales Price Homes Sold 165 Months of Inventory 1.2 Average Days On Market 29 $713,328 Average Closed Sales Price
SINGLE-FAMILY HOMES $612,900
Median Closed Sales Price Homes Sold 77 Months of Inventory 1.3 Average Days On Market 25 $483,572 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 45 evatlanta.com
Woodstock Union City SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES $294,500 Median Closed Sales Price Homes Sold 30 Months of Inventory 3.7 Average Days On Market 44 $296,095 Average Closed Sales Price $484,000 Median Closed Sales Price Homes Sold 272 Months of Inventory 1.6 Average Days On Market 35 $515,293 Average Closed Sales Price
Condominiums
INSIDE THE PERIMETER
$370,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 47 evatlanta.com
Brookhaven/Chamblee CONDOMINIUMS Brookwood Hills CONDOMINIUMS $290,000 Median Closed Sales Price Homes Sold 29 Months of Inventory 2.9 Average Days On Market 41 $288,924 Average Closed Sales Price
Median Closed Sales Price Homes Sold 11 Months of Inventory 2.9 Average Days On Market 34 $457,091 Average Closed Sales Price
$437,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 48 evatlanta.com
Cabbagetown CONDOMINIUMS Buckhead CONDOMINIUMS
Median Closed Sales Price Homes Sold 167 Months of Inventory 3.8 Average Days On Market 46 $455,300 Average Closed Sales Price
$326,500
Median Closed Sales Price Homes Sold
Months of Inventory 4.3 Average Days On Market 114 $417,333 Average Closed Sales Price
3
Q1 2024 Atlanta Market Snapshot 49 evatlanta.com Source: FMLS,
2024
3/31/24) Collier Hills/Ardmore Park CONDOMINIUMS Decatur/Druid Hills/Emory CONDOMINIUMS $375,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 3.8 Average Days On Market 33 $420,493 Average Closed Sales Price $284,900 Median Closed Sales Price Homes Sold 41 Months of Inventory 2.9 Average Days On Market 30 $332,313 Average Closed Sales Price
InfoSparks, Q1
(1/1/24 to
$332,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 50 evatlanta.com
Downtown CONDOMINIUMS Edgewood/Kirkwood CONDOMINIUMS $290,000 Median Closed Sales Price Homes Sold 29 Months of Inventory 6.3 Average Days On Market 73 $343,541 Average Closed Sales Price
Median Closed Sales Price Homes Sold 8 Months of Inventory 3.0 Average Days On Market 76 $338,738 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 51 evatlanta.com
Garden Hills CONDOMINIUMS Grant Park/Glenwood Park CONDOMINIUMS $287,500 Median Closed Sales Price Homes Sold 6 Months of Inventory 2.5 Average Days On Market 29 $282,667 Average Closed Sales Price
Median Closed Sales Price Homes Sold 7 Months of Inventory 2.2 Average Days On Market 42 $476,919 Average Closed Sales Price
$505,730
Q1 2024 Atlanta Market Snapshot 52 evatlanta.com Source: FMLS,
2024
3/31/24) Midtown CONDOMINIUMS Inman Park CONDOMINIUMS $375,000 Median Closed Sales Price Homes Sold 3 Months of Inventory 1.6 Average Days On Market 17 $431,000 Average Closed Sales Price
Median Closed Sales Price Homes Sold 96 Months of Inventory 4.0 Average Days On Market 37 $446,529 Average Closed Sales Price
InfoSparks, Q1
(1/1/24 to
$389,750
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 53 evatlanta.com
Old Fourth Ward/ Poncey Highland CONDOMINIUMS Peachtree Hills CONDOMINIUMS $315,000 Median Closed Sales Price Homes Sold 21 Months of Inventory 3.3 Average Days On Market 39 $332,281 Average Closed Sales Price
Median Closed Sales Price Homes Sold 7 Months of Inventory 3.5 Average Days On Market 23 $488,983 Average Closed Sales Price
$230,000
Q1 2024 Atlanta Market Snapshot 54 evatlanta.com
2024
Virginia Highlands/ Morningside CONDOMINIUMS Vinings CONDOMINIUMS $330,000 Median Closed Sales Price Homes Sold 25 Months of Inventory 2.9 Average Days On Market 51 $447,917 Average Closed Sales Price
Median Closed Sales Price Homes Sold 14 Months of Inventory 3.0 Average Days On Market 52 $406,086 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to 3/31/24)
$367,500
Q1 2024 Atlanta Market Snapshot 55 evatlanta.com
2024
West Midtown CONDOMINIUMS West End/Adair Park/ Capitol View CONDOMINIUMS $190,000 Median Closed Sales Price Homes Sold 6 Months of Inventory 2.7 Average Days On Market 67 $188,583 Average Closed Sales Price $305,000 Median Closed Sales Price Homes Sold 37 Months of Inventory 3.7 Average Days On Market 52 $357,931 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to 3/31/24)
Condominiums
OUTSIDE THE PERIMETER
$337,500
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 57 evatlanta.com
Cumming CONDOMINIUMS Duluth CONDOMINIUMS $487,500 Median Closed Sales Price Homes Sold 14 Months of Inventory 1.8 Average Days On Market 47 $453,977 Average Closed Sales Price
Median Closed Sales Price Homes Sold
Months of Inventory 1.3 Average Days On Market 20 $372,500 Average Closed Sales Price
4
Q1 2024 Atlanta Market Snapshot 58 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Marietta/Smyrna/ Vinings CONDOMINIUMS East Cobb CONDOMINIUMS $271,000 Median Closed Sales Price Homes Sold 40 Months of Inventory 2.4 Average Days On Market 35 $297,228 Average Closed Sales Price $288,500 Median Closed Sales Price Homes Sold 72 Months of Inventory 2.2 Average Days On Market 42 $338,992 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 59 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Norcross/Peachtree Corners CONDOMINIUMS Roswell/Alpharetta/ Johns Creek CONDOMINIUMS $246,500 Median Closed Sales Price Homes Sold 11 Months of Inventory 4.1 Average Days On Market 41 $283,205 Average Closed Sales Price $385,675 Median Closed Sales Price Homes Sold 36 Months of Inventory 1.4 Average Days On Market 28 $397,160 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 60 evatlanta.com
Woodstock CONDOMINIUMS Sandy Springs/Dunwoody/ Perimeter CONDOMINIUMS $249,900 Median Closed Sales Price Homes Sold 85 Months of Inventory 2.7 Average Days On Market 31 $265,809 Average Closed Sales Price
Median Closed Sales Price Homes Sold 8 Months of Inventory 3.9 Average Days On Market 41 $464,313 Average Closed Sales Price
$477,500
Townhomes INSIDE THE PERIMETER
Q1 2024 Atlanta Market Snapshot 63 evatlanta.com
Avondale/ Scottdale TOWNHOMES $436,039 Median Closed Sales Price Homes Sold 11 Months of Inventory 2.3 Average Days On Market 36 $449,990 Average Closed Sales Price Brookhaven/ Chamblee TOWNHOMES
Median Closed Sales Price Homes Sold 49 Months of Inventory 2.2 Average Days On Market 45 $621,138 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
$610,000
Q1 2024 Atlanta Market Snapshot 64 evatlanta.com
2024
3/31/24) Cascade East TOWNHOMES $207,950 Median Closed Sales Price Homes Sold 6 Months of Inventory 3.4 Average Days On Market 48 $208,800 Average Closed Sales Price Buckhead TOWNHOMES $536,250 Median Closed Sales Price Homes Sold 64 Months of Inventory 2.4 Average Days On Market 32 $650,465 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1
(1/1/24 to
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 65 evatlanta.com
Cascade West TOWNHOMES Collier Hills/ Ardmore TOWNHOMES $278,500 Median Closed Sales Price Homes Sold 19 Months of Inventory 3.2 Average Days On Market 49 $274,808 Average Closed Sales Price
Median Closed Sales Price Homes Sold 7 Months of Inventory 1.4 Average Days On Market 45 $509,643 Average Closed Sales Price
$400,000
Q1 2024 Atlanta Market Snapshot 66 evatlanta.com
Downtown TOWNHOMES $273,700 Median Closed Sales Price Homes Sold 1 Months of Inventory 1.4 Average Days On Market 26 $273,700 Average Closed Sales Price Decatur/Emory/ Druid Hills TOWNHOMES $557,500 Median Closed Sales Price Homes Sold 20 Months of Inventory 2.6 Average Days On Market 60 $596,716 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
5
$230,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 67 evatlanta.com
East Atlanta TOWNHOMES East Point
$648,000 Median Closed Sales Price Home Sold
Months of Inventory 5.1 Average Days On Market 32 $523,633 Average Closed Sales Price
TOWNHOMES
3
Median Closed Sales Price Homes Sold
Months of Inventory 2.6 Average Days On Market 44
Average Closed Sales Price
$231,500
Q1 2024 Atlanta Market Snapshot 68 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Grant Park/Glenwood Park/ Ormewood Park TOWNHOMES $605,000 Median Closed Sales Price Homes Sold 17 Months of Inventory 2.2 Average Days On Market 20 $630,588 Average Closed Sales Price Edgewood/Kirkwood TOWNHOMES $537,500 Median Closed Sales Price Homes Sold 18 Months of Inventory 6.8 Average Days On Market 26 $575,144 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 69 evatlanta.com
Inman Park TOWNHOMES $687,500 Median Closed Sales Price Homes Sold 2 Months of Inventory 0.6 Average Days On Market 11 $687,500 Average Closed Sales Price Hapeville TOWNHOMES $499,900 Median Closed Sales Price Homes Sold 1 Months of Inventory 7.6 Average Days On Market 47 $499,900 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 70 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Old Fourth Ward/ Poncey Highlands TOWNHOMES $915,000 Median Closed Sales Price Homes Sold 8 Months of Inventory 5.7 Average Days On Market 59 $841,854 Average Closed Sales Price Midtown TOWNHOMES $610,000 Median Closed Sales Price Homes Sold 3 Months of Inventory 1.8 Average Days On Market 38 $631,500 Average Closed Sales Price
$771,788
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 71 evatlanta.com
Summerhill TOWNHOMES Reynoldstown TOWNHOMES $652,400 Median Closed Sales Price Homes Sold 6 Months of Inventory 4.5 Average Days On Market 29 $733,300 Average Closed Sales Price
Median Closed Sales Price Homes Sold 4 Months of Inventory 3.6 Average Days On Market 73 $765,894 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 72 evatlanta.com Source: FMLS, InfoSparks, Q1 2024
3/31/24) West Midtown TOWNHOMES $437,815 Median Closed Sales Price Homes Sold 76 Months of Inventory 2.9 Average Days On Market 49 $455,783 Average Closed Sales Price Vinings TOWNHOMES $495,000 Median Closed Sales Price Homes Sold 38 Months of Inventory 2.5 Average Days On Market 55 $566,352 Average Closed Sales Price
(1/1/24 to
Townhomes OUTSIDE
THE PERIMETER
$548,230
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 75 evatlanta.com
Acworth TOWNHOMES $369,900 Median Closed Sales Price Homes Sold 31 Months of Inventory 1.8 Average Days On Market 32 $385,145 Average Closed Sales Price Alpharetta
TOWNHOMES
Median Closed Sales Price Homes Sold
Months of Inventory 2.0 Average Days On Market 43 $647,158 Average Closed Sales Price
104
Q1 2024 Atlanta Market Snapshot 76 evatlanta.com
Canton TOWNHOMES $394,925 Median Closed Sales Price Homes Sold 16 Months of Inventory 2.9 Average Days On Market 40 $421,487 Average Closed Sales Price Buford TOWNHOMES $413,500 Median Closed Sales Price Homes Sold 26 Months of Inventory 2.5 Average Days On Market 25 $409,154 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
$456,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 77 evatlanta.com
Cumming
Duluth
Median Closed Sales Price Homes Sold 49 Months of Inventory 1.2 Average Days On Market 31 $459,808 Average Closed Sales Price
TOWNHOMES
TOWNHOMES $473,000
Median Closed Sales Price Homes Sold
Months of Inventory 2.0 Average Days On Market 51 $427,721 Average Closed Sales Price
56
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 78 evatlanta.com
Fairburn TOWNHOMES
Median Closed Sales Price Homes Sold 6 Months of Inventory 0.7 Average Days On Market 63 $294,650 Average Closed Sales Price East Cobb TOWNHOMES $312,000 Median Closed Sales Price Homes Sold 63 Months of Inventory 1.5 Average Days On Market 30 $394,991 Average Closed Sales Price
$298,000
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 79 evatlanta.com
Jonesboro TOWNHOMES $249,000 Median Closed Sales Price Homes Sold 11 Months of Inventory 4.3 Average Days On Market 25 $239,527 Average Closed Sales Price Fayetteville TOWNHOMES $699,900 Median Closed Sales Price Homes Sold 5 Months of Inventory 2.0 Average Days On Market 46 $662,719 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 80 evatlanta.com
Lawrenceville TOWNHOMES $350,558 Median Closed Sales Price Homes Sold 82 Months of Inventory 2.4 Average Days On Market 43 $339,657 Average Closed Sales Price Kennesaw TOWNHOMES $365,500 Median Closed Sales Price Homes Sold 43 Months of Inventory 2.2 Average Days On Market 49 $386,262 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 81 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Marietta/Smyrna/ Vinings TOWNHOMES $385,000 Median Closed Sales Price Homes Sold 173 Months of Inventory 2.3 Average Days On Market 34 $402,900 Average Closed Sales Price Mableton TOWNHOMES $383,995 Median Closed Sales Price Homes Sold 64 Months of Inventory 2.2 Average Days On Market 50 $370,721 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 82 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Norcross/Peachtree Corners TOWNHOMES $323,400 Median Closed Sales Price Homes Sold 42 Months of Inventory 2.1 Average Days On Market 41 $373,818 Average Closed Sales Price Milton TOWNHOMES $500,000 Median Closed Sales Price Homes Sold 14 Months of Inventory 0.7 Average Days On Market 43 $642,823 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 83 evatlanta.com Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24) Roswell/Alpharetta/ Johns Creek TOWNHOMES $570,993 Median Closed Sales Price Homes Sold 134 Months of Inventory 2.0 Average Days On Market 41 $635,104 Average Closed Sales Price Peachtree City TOWNHOMES $387,000 Median Closed Sales Price Homes Sold 2 Months of Inventory 2.4 Average Days On Market 4 $387,000 Average Closed Sales Price
Q1 2024 Atlanta Market Snapshot 84 evatlanta.com
Suwanee TOWNHOMES $500,000 Median Closed Sales Price Homes Sold 40 Months of Inventory 1.7 Average Days On Market 54 $491,750 Average Closed Sales Price Sandy Springs/Dunwoody/ Perimeter TOWNHOMES $525,000 Median Closed Sales Price Homes Sold 81 Months of Inventory 1.5 Average Days On Market 27 $525,267 Average Closed Sales Price
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 85 evatlanta.com
Tucker TOWNHOMES
Median Closed Sales Price Homes Sold 16 Months of Inventory 1.3 Average Days On Market 49 $366,911 Average Closed Sales Price Stone Mountain TOWNHOMES $215,000 Median Closed Sales Price Homes Sold 27 Months of Inventory 1.8 Average Days On Market 28 $232,126 Average Closed Sales Price
$327,950
Source: FMLS, InfoSparks, Q1 2024 (1/1/24 to 3/31/24)
Q1 2024 Atlanta Market Snapshot 86 evatlanta.com
Woodstock TOWNHOMES $415,000 Median Closed Sales Price Homes Sold 53 Months of Inventory 1.3 Average Days On Market 36 $442,567 Average Closed Sales Price Union City TOWNHOMES $221,000 Median Closed Sales Price Homes Sold 13 Months of Inventory 5.4 Average Days On Market 30 $190,398 Average Closed Sales Price
Key Indicators Glossary
The following key indicators are used throughout this report to describe market trends:
Active Listings
Properties that are currently listed for sale on FMLS. Additional properties may be for sale at any given time— such as for-sale by owner homes or off-market listings— but are not included in the count of “active listings” in this report if they are not in the FMLS database.
New Listings
New listings are those that have been added to FMLS in a given month. They do not include active listings that were entered in previous months.
Closed Sales
Closed sales represent homes that have sold and transactions have been finalized. This indicator tends to lag market trends slightly because properties typically close one to two months after an offer has been accepted and buyers have locked their interest rates.
Pending Sales
Pending sales are properties that have accepted an offer from a buyer and is in the due diligence period. The sales transaction has not happened yet. This is a leading indicator because it give us insight into how buyers and sellers are reacting to the most current market conditions.
Sale Price
The sale price is the final amount paid for a home. It is measured as either an average or a median, with the average price tending to be skewed higher by the highest priced homes. It does not reflect seller concessions, such as closing costs that may have been paid.
Days on Market
Days on market (DOM) measures how long it takes from the time a home is listed until the owner signs a contract for the sale of a property. This tends to vary based on the desirability of a given property, market conditions, and season.
Sale Price to List Price Ratio
The sale price to list price ratio (SP/LP) indicates if a home sold at (100%), above (>100%), or below (<100%) the listed asking price. The sale price to original list price ratio (SP/OLP) compares the sale price to the original asking price, as the current asking price may have reflected price changes.
Months of Inventory
Months of inventory indicates how long it would likely take to sell currently listed homes, if no new inventory were added. It is measured as a ratio of active listings to homes sold. 5 to 6 months of inventory is considered a balanced market. Less than 6 months supply tends to favor sellers, and more tends to favor buyers.
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