MARKET SNAPSHOT
2023 Q2 ATLANTA,GEORGIA
Market Snapshot
2023 Q2 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 - 71 Outside the Perimeter 72 - 83 Market Overview 4 - 7
Market Overview
The close of Q2 2023 marks a full year since interest rates increased beyond 5.25%. Rising mortgage rates and historically low inventory levels are the two primary factors that continue to shape the landscape of the real estate market in Metro Atlanta. Consumers and would-be sellers keep a trained eye on mortgage rates and inventory levels to make the best predictions and decisions regarding the timing to buy or sell a home. The waning prospect of lower interest rates in the near future coupled with a more urgent need for a home has pushed many “patient” homebuyers off the sidelines, leading to a more robust Q2 2023.
As a whole, the second quarter closed with positive numbers and stability. There were 15,773 closed sales in Q2 2023, which is 26% more than the 11,709 in Q1 2023. The average sale price increased by 11% from $463,918 to $515,579, months of inventory increased slightly from 1.8 months to 2.0 months, and the average days on the market decreased by 32% from 44 to 30. Month-over-month (MOM) in April, May, and June, new listings increased marginally while closed and pending sales saw small gains and losses, leading to overall stability for Q2 2023 and gains over Q1 2023.
Comparing current quarter data to our benchmark year of 2019, we find that there is a distinct correlation between the number of new listings, pending sales, and closed sales. While there were 28% fewer closed sales and 31% fewer pending sales in Q2 2023 vs Q2 2019, there were 34% fewer new listings. The fact remains that while inventory levels and new listings remain suppressed, pending and closed sales will continue to decline.
By the end of June, interest rates returned to 6.97%, and forecasts by Freddie
Q2 2023 at a Glance
15,773 Homes Sold
$515,579 Average Sale Price
2.0 Months of Inventory 30 Average Days On Market
Mac,Fannie Mae, the Mortgage Bankers Association,
Q2 2023 Atlanta Market Snapshot 4 evatlanta.com
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 June 2023
and the National Association of REALTORS have become more conservative with an increase in the average Q4 2023 30-year fixed rate from 5.7% to 6.1%. Would-be home sellers who would prefer to make a move remain reluctant to give up their historically low interest rate, while homebuyers who must make a move have begun to adjust to the new normal of current mortgage rates and are making decisions to purchase. Homes that are priced appropriately and meet or exceed market expectations are quickly being consumed by homebuyers looking for the right opportunity. Consequently, inventory levels remain low or decline MOM, and we remain in a seller’s market.
The rest of this report provides a snapshot of key metrics by home type (single-family homes, townhomes, and condominiums) and submarket, including neighborhoods 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 & Volkers Atlanta
2023 Quarterly Average 30-Year Fixed Rate Mortgage Forecasts
Q2 2023 Atlanta Market Snapshot 5 evatlanta.com
1
30-year
2
3
4
5
2023 Q1 Q2 Q3 Q4 Freddie Mac (Oct. 2022) 6.6% 6.5% 6.4% 6.2% Fannie Mae (Jul. 2023) 6.4% 6.5% 6.8% 6.6% Mortgage Bankers Association (Jul. 2023) 6.4% 6.5% 6.6% 5.9% National Association of Realtors (Jul. 2023) 6.4% 6.3% 6.1% 5.8%
Fannie Mae Primary Mortgage Market Survey, Average
Fixed Rate Mortgage
Freddie Mac
Fannie Mae
Mortgage Bankers Association
National Association of Realtors
Metro Atlanta Supply Dynamics Summary (January 2022 - June 2023)
Source: FMLS InfoSparks, Greater Atlanta Area, All Home Types, January 2022 to June 2023
Metro Atlanta Market Summary (Q2 2023)
Source: FMLS InfoSparks, Greater Atlanta Area/City of Atlanta/ITP, All home types, All price points, Rolling 3-months as of June 2023
Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23)
change compared to rolling 3-months as of March 2023)
Q2 2023 Atlanta Market Snapshot 6 evatlanta.com
Metro Atlanta City of Atlanta ITP Closed Sales 15,811 p +23.1 2,731 p +23.6% 3,251 p +27.6% Pending Sales 15,534 p +6.3% 2,677 p +5.2% 3,160 p +8.8% Active Listings 9,496 q -3.4% 2,303 q -0.5% 2,508 q -0.4% New Listings 21,131 p +12% 4,151 p +5.0% 4,796 p +6.0% Median Sale Price $418,000 p +8.0% $435,000 p +10% $460,256 p +10% Average Sale Price $515,618 p +11% $610,880 p +13% $630,635 p +12% Average Price Per Square Foot $214 p +6.0% $287 p +6.0% $293 p +5.0% Average Sale Price to Original List Price Ratio 98.5% p +2.0% 97.9% 0% 98.0% p +2.0% Months of Inventory 2.0 p +5.0% 2.8 p +7.0% 2.7 p +8.0% Average Days on Market 30 p +32% 31 p +25% 30 p +29%
(Q2 2023 over Q1 2023
q Down Quarter-Over-Quarter (QOQ) p Up Quarter-Over-Quarter (QOQ)
$520,058 10,321 6,961 $441,540 5,797 2,883 $515,579 7,601 5,338
Metro Atlanta Pending and Closed Sales vs. Interest Rates (January 2022 - June 2023)
Source: FMLS InfoSparks, Greater Atlanta Area, All Home Types, January 2022 to June 2023
Source: FMLS InfoSparks, Greater Atlanta Area, All Home Types, January 2022 to June 2023
Q2 2023 Atlanta Market Snapshot 7 evatlanta.com
Metro Atlanta Home Inventory (January 2022 - June 2023) 6.71 7.08 2.0 2.4
Single-Family Homes
INSIDE THE PERIMETER
Q2 2023 Atlanta Market Snapshot 9 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Ansley Park / Sherwood Forest SINGLE-FAMILY HOMES Avondale Estates SINGLE-FAMILY HOMES $1.945,000 Median Closed Sales Price Homes Sold 11 Months of Inventory 3.9 Average Days On Market 65 $1,984,545 Average Closed Sales Price $635,000 Median Closed Sales Price Homes Sold 23 Months of Inventory 0.7 Average Days On Market 18 $686,104 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 10 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Brookhaven SINGLE-FAMILY HOMES Brookwood Hills SINGLE-FAMILY HOMES $900,000 Median Closed Sales Price Homes Sold 135 Months of Inventory 2.1 Average Days On Market 23 $1,055,668 Average Closed Sales Price $1,885,000 Median Closed Sales Price Homes Sold 2 Months of Inventory 1.0 Average Days On Market 15 $1,885,000 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 11 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Buckhead SINGLE-FAMILY HOMES Cabbagetown SINGLE-FAMILY HOMES $1,290,000 Median Closed Sales Price Homes Sold 233 Months of Inventory 3.4 Average Days On Market 26 $1,737,139 Average Closed Sales Price $705,000 Median Closed Sales Price Home Sold 2 Months of Inventory 0.3 Average Days On Market 7 $705,000 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 12 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Cascade East SINGLE-FAMILY HOMES Cascade West SINGLE-FAMILY HOMES $319,000 Median Closed Sales Price Homes Sold 47 Months of Inventory 4.7 Average Days On Market 48 $321,126 Average Closed Sales Price $358,350 Median Closed Sales Price Homes Sold 32 Months of Inventory 3.0 Average Days On Market 60 $392,921 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 13 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Chamblee SINGLE-FAMILY HOMES Chastain Park SINGLE-FAMILY HOMES $455,500 Median Closed Sales Price Homes Sold 30 Months of Inventory 1.7 Average Days On Market 15 $482,840 Average Closed Sales Price $1,900,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 5.5 Average Days On Market 23 $2,117,473 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 14 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) College Park SINGLE-FAMILY HOMES Collier Hills/ Ardmore Park SINGLE-FAMILY HOMES $422,500 Median Closed Sales Price Homes Sold 12 Months of Inventory 4.4 Average Days On Market 42 $455,050 Average Closed Sales Price $838,000 Median Closed Sales Price Home Sold 9 Months of Inventory 2.0 Average Days On Market 15 $1,006,611 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 15 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Decatur SINGLE-FAMILY HOMES Druid Hills/ Emory SINGLE-FAMILY HOMES $790,000 Median Closed Sales Price Homes Sold 63 Months of Inventory 1.6 Average Days On Market 17 $870,520 Average Closed Sales Price $1,067,500 Median Closed Sales Price Homes Sold 23 Months of Inventory 1.6 Average Days On Market 24 $1,176,467 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 16 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) East Atlanta SINGLE-FAMILY HOMES East Lake SINGLE-FAMILY HOMES $527,000 Median Closed Sales Price Homes Sold 30 Months of Inventory 1.4 Average Days On Market 14 $549,364 Average Closed Sales Price $717,000 Median Closed Sales Price Homes Sold 16 Months of Inventory 2.3 Average Days On Market 40 $747,419 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 17 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) East Point SINGLE-FAMILY HOMES Edgewood SINGLE-FAMILY HOMES $290,000 Median Closed Sales Price Homes Sold 49 Months of Inventory 4.5 Average Days On Market 45 $281,588 Average Closed Sales Price $585,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 2.0 Average Days On Market 7 $618,726 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 18 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Garden Hills SINGLE-FAMILY HOMES Grant Park/ Glenwood Park SINGLE-FAMILY HOMES $888,250 Median Closed Sales Price Homes Sold 8 Months of Inventory 2.6 Average Days On Market 36 $1,142,747 Average Closed Sales Price $740,500 Median Closed Sales Price Homes Sold 20 Months of Inventory 1.6 Average Days On Market 20 $707,263 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 19 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Hapeville/ Thomasville SINGLE-FAMILY HOMES Inman Park SINGLE-FAMILY HOMES $337,500 Median Closed Sales Price Homes Sold 16 Months of Inventory 6.1 Average Days On Market 16 $374,729 Average Closed Sales Price $1,670,500 Median Closed Sales Price Homes Sold 8 Months of Inventory 0.8 Average Days On Market 5 $1,667,283 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 20 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Kirkwood SINGLE-FAMILY HOMES Lake Claire/ Little Five Points SINGLE-FAMILY HOMES $600,000 Median Closed Sales Price Homes Sold 34 Months of Inventory 1.4 Average Days On Market 26 $616,925 Average Closed Sales Price $803,000 Median Closed Sales Price Homes Sold 23 Months of Inventory 1.7 Average Days On Market 10 $903,000 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 21 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Oakhurst SINGLE-FAMILY HOMES Midtown SINGLE-FAMILY HOMES $1,900,000 Median Closed Sales Price Home Sold 13 Months of Inventory 2.1 Average Days On Market 18 $1,768,769 Average Closed Sales Price $1,025,500 Median Closed Sales Price Homes Sold 14 Months of Inventory 1.0 Average Days On Market 9 $1,026,500 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 22 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Old Fourth Ward SINGLE-FAMILY HOMES Ormewood Park SINGLE-FAMILY HOMES $745,000 Median Closed Sales Price Homes Sold 13 Months of Inventory 3.5 Average Days On Market 19 $921,692 Average Closed Sales Price $660,000 Median Closed Sales Price Homes Sold 18 Months of Inventory 3.1 Average Days On Market 9 $708,022 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 23 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Peachtree Hills SINGLE-FAMILY HOMES Peoplestown/Chosewood Park/Lakewood Heights SINGLE-FAMILY HOMES $851,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 1.1 Average Days On Market 16 $1,069,533 Average Closed Sales Price $385,500 Median Closed Sales Price Homes Sold 42 Months of Inventory 4.4 Average Days On Market 29 $409,203 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 24 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Reynoldstown SINGLE-FAMILY HOMES Summerhill SINGLE-FAMILY HOMES $710,000 Median Closed Sales Price Homes Sold 9 Months of Inventory 2.6 Average Days On Market 19 $713,680 Average Closed Sales Price $640,000 Median Closed Sales Price Homes Sold 7 Months of Inventory 2.6 Average Days On Market 42 $628,571 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 25 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Vinings SINGLE-FAMILY HOMES Virginia Highlands/ Morningside SINGLE-FAMILY HOMES $912,500 Median Closed Sales Price Homes Sold 14 Months of Inventory 2.7 Average Days On Market 60 $1,196,963 Average Closed Sales Price $1,350,000 Median Closed Sales Price Homes Sold 55 Months of Inventory 2.8 Average Days On Market 20 $1,450,964 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 26 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) West End/Adair Park/ Capitol View SINGLE-FAMILY HOMES West Midtown/ Underwood Hills SINGLE-FAMILY HOMES $393,750 Median Closed Sales Price Homes Sold 125 Months of Inventory 4.9 Average Days On Market 29 $385,644 Average Closed Sales Price $567,000 Median Closed Sales Price Homes Sold 84 Months of Inventory 2.1 Average Days On Market 23 $537,582 Average Closed Sales Price
Single-Family Homes
OUTSIDE THE PERIMETER
Q2 2023 Atlanta Market Snapshot 29 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Acworth Alpharetta SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES $425,000 Median Closed Sales Price Homes Sold 300 Months of Inventory 1.7 Average Days On Market 28 $462,879 Average Closed Sales Price $790,000 Median Closed Sales Price Homes Sold 354 Months of Inventory 1.7 Average Days On Market 18 $930,406 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 30 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Chattahoochee Hills SINGLE-FAMILY HOMES Canton SINGLE-FAMILY HOMES $515,618 Median Closed Sales Price Homes Sold 423 Months of Inventory 2.1 Average Days On Market 32 $606,310 Average Closed Sales Price $1,680,000 Median Closed Sales Price Homes Sold 2 Months of Inventory 3.7 Average Days On Market 100 $1,680,000 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 31 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Clarkston SINGLE-FAMILY HOMES Cumming SINGLE-FAMILY HOMES $353,000 Median Closed Sales Price Homes Sold 18 Months of Inventory 1.7 Average Days On Market 30 $354,017 Average Closed Sales Price $590,000 Median Closed Sales Price Homes Sold 629 Months of Inventory 1.4 Average Days On Market 21 $629,753 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 32 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Duluth SINGLE-FAMILY HOMES Douglasville SINGLE-FAMILY HOMES $315,000 Median Closed Sales Price Homes Sold 350 Months of Inventory 2.1 Average Days On Market 42 $333,182 Average Closed Sales Price $465,000 Median Closed Sales Price Homes Sold 156 Months of Inventory 1.4 Average Days On Market 17 $639,409 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 33 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Dunwoody SINGLE-FAMILY HOMES East Cobb SINGLE-FAMILY HOMES $702,000 Median Closed Sales Price Homes Sold 82 Months of Inventory 0.7 Average Days On Market 14 $765,180 Average Closed Sales Price $575,000 Median Closed Sales Price Homes Sold 632 Months of Inventory 1.3 Average Days On Market 19 $644,974 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 34 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Fayetteville SINGLE-FAMILY HOMES Fairburn SINGLE-FAMILY HOMES $375,000 Median Closed Sales Price Homes Sold 109 Months of Inventory 2.5 Average Days On Market 42 $373,265 Average Closed Sales Price $420,000 Median Closed Sales Price Homes Sold 88 Months of Inventory 2.3 Average Days On Market 36 $490,827 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 35 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Kennesaw SINGLE-FAMILY HOMES Johns Creek SINGLE-FAMILY HOMES $830,000 Median Closed Sales Price Homes Sold 103 Months of Inventory 1.3 Average Days On Market 21 $865,514 Average Closed Sales Price $426,000 Median Closed Sales Price Homes Sold 266 Months of Inventory 1.3 Average Days On Market 28 $505,417 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 36 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Mableton SINGLE-FAMILY HOMES Lawrenceville SINGLE-FAMILY HOMES $399,900 Median Closed Sales Price Homes Sold 573 Months of Inventory 1.5 Average Days On Market 26 $419,219 Average Closed Sales Price $350,000 Median Closed Sales Price Homes Sold 137 Months of Inventory 1.3 Average Days On Market 26 $385,131 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 37 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Marietta SINGLE-FAMILY HOMES McDonough SINGLE-FAMILY HOMES $499,500 Median Closed Sales Price Homes Sold 882 Months of Inventory 1.3 Average Days On Market 22 $588,846 Average Closed Sales Price $360,000 Median Closed Sales Price Homes Sold 216 Months of Inventory 2.7 Average Days On Market 44 $388,900 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 38 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Milton SINGLE-FAMILY HOMES Norcross SINGLE-FAMILY HOMES $1,205,000 Median Closed Sales Price Homes Sold 75 Months of Inventory 3.5 Average Days On Market 38 $1,291,318 Average Closed Sales Price $345,000 Median Closed Sales Price Homes Sold 67 Months of Inventory 1.5 Average Days On Market 26 $406,300 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 39 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Peachtree City SINGLE-FAMILY HOMES Peachtree Corners SINGLE-FAMILY HOMES $562,500 Median Closed Sales Price Homes Sold 24 Months of Inventory 1.3 Average Days On Market 35 $593,716 Average Closed Sales Price $600,000 Median Closed Sales Price Homes Sold 62 Months of Inventory 0.7 Average Days On Market 18 $697,112 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 40 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Roswell SINGLE-FAMILY HOMES Sandy Springs SINGLE-FAMILY HOMES $647,500 Median Closed Sales Price Homes Sold 299 Months of Inventory 1.3 Average Days On Market 15 $715,845 Average Closed Sales Price $865,000 Median Closed Sales Price Homes Sold 127 Months of Inventory 2.6 Average Days On Market 27 $1,157,214 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 41 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Smyrna SINGLE-FAMILY HOMES Snellville SINGLE-FAMILY HOMES $522,500 Median Closed Sales Price Homes Sold 234 Months of Inventory 1.4 Average Days On Market 20 $559,233 Average Closed Sales Price $360,000 Median Closed Sales Price Homes Sold 257 Months of Inventory 1.6 Average Days On Market 29 $389,141 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 42 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) South Fulton SINGLE-FAMILY HOMES Sugar Hill SINGLE-FAMILY HOMES $303,500 Median Closed Sales Price Homes Sold 22 Months of Inventory 3.1 Average Days On Market 52 $331,642 Average Closed Sales Price $432,500 Median Closed Sales Price Homes Sold 83 Months of Inventory 1.3 Average Days On Market 15 $478,741 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 43 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Suwanee SINGLE-FAMILY HOMES Tucker SINGLE-FAMILY HOMES $645,211 Median Closed Sales Price Homes Sold 194 Months of Inventory 1.4 Average Days On Market 24 $727,485 Average Closed Sales Price $400,000 Median Closed Sales Price Homes Sold 95 Months of Inventory 1.4 Average Days On Market 25 $420,993 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 44 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Woodstock Union City SINGLE-FAMILY HOMES SINGLE-FAMILY HOMES $280,000 Median Closed Sales Price Homes Sold 27 Months of Inventory 1.8 Average Days On Market 32 $280,111 Average Closed Sales Price $471,750 Median Closed Sales Price Homes Sold 364 Months of Inventory 1.3 Average Days On Market 27 $514,878 Average Closed Sales Price
Condominiums
INSIDE THE PERIMETER
Q2 2023 Atlanta Market Snapshot 47 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Brookhaven/Chamblee CONDOMINIUMS Brookwood Hills CONDOMINIUMS $264,000 Median Closed Sales Price Homes Sold 43 Months of Inventory 1.2 Average Days On Market 17 $287,842 Average Closed Sales Price $319,600 Median Closed Sales Price Homes Sold 13 Months of Inventory 2.7 Average Days On Market 58 $311,912 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 48 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Cabbagetown CONDOMINIUMS Buckhead CONDOMINIUMS $305,500 Median Closed Sales Price Homes Sold 236 Months of Inventory 2.8 Average Days On Market 39 $420,182 Average Closed Sales Price $377,750 Median Closed Sales Price Homes Sold 3 Months of Inventory 1.8 Average Days On Market 25 $413,417 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 49 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Collier Hills/Ardmore Park CONDOMINIUMS Decatur/Druid Hills/Emory CONDOMINIUMS $323,500 Median Closed Sales Price Homes Sold 16 Months of Inventory 2.0 Average Days On Market 18 $409,563 Average Closed Sales Price $330,000 Median Closed Sales Price Homes Sold 39 Months of Inventory 1.8 Average Days On Market 41 $355,853 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 50 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Downtown CONDOMINIUMS Edgewood/Kirkwood CONDOMINIUMS $285,000 Median Closed Sales Price Homes Sold 41 Months of Inventory 5.6 Average Days On Market 71 $310,126 Average Closed Sales Price $237,450 Median Closed Sales Price Homes Sold 12 Months of Inventory 3.6 Average Days On Market 21 $277,175 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 51 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Garden Hills CONDOMINIUMS Grant Park/Glenwood Park CONDOMINIUMS $300,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 2.4 Average Days On Market 16 $398,100 Average Closed Sales Price $427,500 Median Closed Sales Price Homes Sold 12 Months of Inventory 3.1 Average Days On Market 29 $410,425 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 52 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Midtown CONDOMINIUMS Inman Park CONDOMINIUMS $393,750 Median Closed Sales Price Homes Sold 4 Months of Inventory 1.8 Average Days On Market 18 $454,375 Average Closed Sales Price $380,000 Median Closed Sales Price Homes Sold 145 Months of Inventory 2.3 Average Days On Market 28 $469,759 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 53 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Old Fourth Ward/ Poncey Highland CONDOMINIUMS Peachtree Hills CONDOMINIUMS $350,000 Median Closed Sales Price Homes Sold 29 Months of Inventory 1.3 Average Days On Market 32 $368,038 Average Closed Sales Price $277,500 Median Closed Sales Price Homes Sold 18 Months of Inventory 4.8 Average Days On Market 43 $395,767 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 54 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Virginia Highlands/ Morningside CONDOMINIUMS Vinings CONDOMINIUMS $370,000 Median Closed Sales Price Homes Sold 29 Months of Inventory 1.7 Average Days On Market 21 $358,259 Average Closed Sales Price $280,900 Median Closed Sales Price Homes Sold 22 Months of Inventory 1.3 Average Days On Market 17 $296,192 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 55 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) West Midtown CONDOMINIUMS West End/Adair Park/ Capitol View CONDOMINIUMS $225,000 Median Closed Sales Price Homes Sold 5 Months of Inventory 3.0 Average Days On Market 57 $241,200 Average Closed Sales Price $310,000 Median Closed Sales Price Homes Sold 73 Months of Inventory 2.6 Average Days On Market 33 $367,087 Average Closed Sales Price
Condominiums
OUTSIDE THE PERIMETER
Q2 2023 Atlanta Market Snapshot 57 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Cumming CONDOMINIUMS Duluth CONDOMINIUMS $450,000 Median Closed Sales Price Homes Sold 33 Months of Inventory 2.8 Average Days On Market 58 $444,487 Average Closed Sales Price $280,000 Median Closed Sales Price Homes Sold 7 Months of Inventory 1.0 Average Days On Market 25 $334,571 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 58 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Marietta/Smyrna/ Vinings CONDOMINIUMS East Cobb CONDOMINIUMS $278,950 Median Closed Sales Price Homes Sold 52 Months of Inventory 2.0 Average Days On Market 20 $318,392 Average Closed Sales Price $263,000 Median Closed Sales Price Homes Sold 96 Months of Inventory 1.4 Average Days On Market 17 $287,452 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 59 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Norcross/Peachtree
CONDOMINIUMS Roswell/Alpharetta/ Johns Creek CONDOMINIUMS $254,500 Median Closed Sales Price Homes Sold 10 Months of Inventory 1.0 Average Days On Market 13 $254,450 Average Closed Sales Price $360,000 Median Closed Sales Price Homes Sold 45 Months of Inventory 1.4 Average Days On Market 13 $380,546 Average Closed Sales Price
Corners
Q2 2023 Atlanta Market Snapshot 60 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Woodstock CONDOMINIUMS Sandy Springs/Dunwoody/ Perimeter CONDOMINIUMS $255,000 Median Closed Sales Price Homes Sold 97 Months of Inventory 1.3 Average Days On Market 24 $268,172 Average Closed Sales Price $421,000 Median Closed Sales Price Homes Sold 5 Months of Inventory 2.3 Average Days On Market 4 $426,100 Average Closed Sales Price
Townhomes
INSIDE THE PERIMETER
Q2 2023 Atlanta Market Snapshot 63 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Brookhaven/ Chamblee TOWNHOMES Buckhead TOWNHOMES $587,250 Median Closed Sales Price Homes Sold 52 Months of Inventory 1.1 Average Days On Market 13 $584,635 Average Closed Sales Price $567,500 Median Closed Sales Price Homes Sold 78 Months of Inventory 2.1 Average Days On Market 41 $631,570 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 64 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Cascade East TOWNHOMES Cascade West TOWNHOMES $188,500 Median Closed Sales Price Homes Sold 8 Months of Inventory 3.4 Average Days On Market 27 $176,063 Average Closed Sales Price $277,450 Median Closed Sales Price Homes Sold 16 Months of Inventory 2.0 Average Days On Market 17 $265,706 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 65 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Collier Hills/ Ardmore TOWNHOMES Decatur/Emory/ Druid Hills TOWNHOMES $335,000 Median Closed Sales Price Homes Sold 9 Months of Inventory 1.1 Average Days On Market 13 $476,222 Average Closed Sales Price $575,000 Median Closed Sales Price Homes Sold 35 Months of Inventory 2.7 Average Days On Market 14 $588,702 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 66 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Downtown East Atlanta TOWNHOMES TOWNHOMES $950,000 Median Closed Sales Price Homes Sold 1 Months of Inventory 0.2 Average Days On Market 139 $950,000 Average Closed Sales Price $655,000 Median Closed Sales Price Home Sold 1 Months of Inventory 2.1 Average Days On Market 7 $655,000 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 67 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Edgewood/Kirkwood TOWNHOMES East Point TOWNHOMES $260,000 Median Closed Sales Price Homes Sold 3 Months of Inventory 1.0 Average Days On Market 3 $259,167 Average Closed Sales Price $585,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 1.8 Average Days On Market 26 $580,640 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 68 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Grant Park/Glenwood Park/ Ormewood Park TOWNHOMES Inman Park TOWNHOMES $494,000 Median Closed Sales Price Homes Sold 7 Months of Inventory 1.6 Average Days On Market 20 $489,714 Average Closed Sales Price $815,500 Median Closed Sales Price Homes Sold 2 Months of Inventory 1.1 Average Days On Market 2 $815,500 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 69 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Midtown TOWNHOMES Old Fourth Ward/ Poncey Highlands TOWNHOMES $616,750 Median Closed Sales Price Homes Sold 2 Months of Inventory 1.2 Average Days On Market 5 $616,750 Average Closed Sales Price $835,000 Median Closed Sales Price Homes Sold 15 Months of Inventory 2.6 Average Days On Market 19 $758,313 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 70 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Summerhill TOWNHOMES Reynoldstown TOWNHOMES $755,000 Median Closed Sales Price Homes Sold 11 Months of Inventory 2.7 Average Days On Market 40 $710,344 Average Closed Sales Price $501,805 Median Closed Sales Price Homes Sold 8 Months of Inventory 1.8 Average Days On Market 76 $514,558 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 71 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) West Midtown TOWNHOMES Vinings TOWNHOMES $452,500 Median Closed Sales Price Homes Sold 36 Months of Inventory 2.2 Average Days On Market 20 $551,633 Average Closed Sales Price $554,900 Median Closed Sales Price Homes Sold 79 Months of Inventory 2.4 Average Days On Market 41 $570,267 Average Closed Sales Price
Townhomes
OUTSIDE THE PERIMETER
Q2 2023 Atlanta Market Snapshot 73 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Acworth TOWNHOMES Canton TOWNHOMES $345,000 Median Closed Sales Price Homes Sold 32 Months of Inventory 1.6 Average Days On Market 28 $391,293 Average Closed Sales Price $357,500 Median Closed Sales Price Homes Sold 38 Months of Inventory 2.8 Average Days On Market 36 $383,538 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 74 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Cumming TOWNHOMES Duluth TOWNHOMES $395,000 Median Closed Sales Price Homes Sold 44 Months of Inventory 0.9 Average Days On Market 10 $431,713 Average Closed Sales Price $374,000 Median Closed Sales Price Homes Sold 50 Months of Inventory 1.6 Average Days On Market 39 $392,126 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 75 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) East Cobb TOWNHOMES Fairburn TOWNHOMES $366,000 Median Closed Sales Price Homes Sold 57 Months of Inventory 1.4 Average Days On Market 35 $393,187 Average Closed Sales Price $310,893 Median Closed Sales Price Homes Sold 34 Months of Inventory 0.8 Average Days On Market 9 $304,990 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 76 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Jonesboro TOWNHOMES $235,000 Median Closed Sales Price Homes Sold 20 Months of Inventory 1.6 Average Days On Market 16 $231,835 Average Closed Sales Price Kennesaw TOWNHOMES $360,000 Median Closed Sales Price Homes Sold 60 Months of Inventory 1.9 Average Days On Market 29 $375,386 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 77 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Lawrenceville TOWNHOMES $305,000 Median Closed Sales Price Homes Sold 78 Months of Inventory 2.1 Average Days On Market 31 $323,965 Average Closed Sales Price Mableton TOWNHOMES $367,230 Median Closed Sales Price Homes Sold 60 Months of Inventory 2.4 Average Days On Market 30 $358,463 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 78 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Milton TOWNHOMES Marietta/Smyrna/ Vinings TOWNHOMES $417,000 Median Closed Sales Price Homes Sold 189 Months of Inventory 1.8 Average Days On Market 28 $428,755 Average Closed Sales Price $570,569 Median Closed Sales Price Homes Sold 11 Months of Inventory 3.0 Average Days On Market 120 $620,404 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 79 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Norcross/Peachtree Corners TOWNHOMES Roswell/Alpharetta/ Johns Creek TOWNHOMES $410,000 Median Closed Sales Price Homes Sold 20 Months of Inventory 2.9 Average Days On Market 42 $416,837 Average Closed Sales Price $550,000 Median Closed Sales Price Homes Sold 168 Months of Inventory 2.1 Average Days On Market 23 $582,752 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 80 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Suwanee TOWNHOMES Sandy Springs/Dunwoody/ Perimeter TOWNHOMES $398,900 Median Closed Sales Price Homes Sold 85 Months of Inventory 1.4 Average Days On Market 18 $427,356 Average Closed Sales Price $475,000 Median Closed Sales Price Homes Sold 66 Months of Inventory 2.0 Average Days On Market 29 $474,220 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 81 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Tucker TOWNHOMES Stone Mountain TOWNHOMES $186,000 Median Closed Sales Price Homes Sold 34 Months of Inventory 2.5 Average Days On Market 27 $209,021 Average Closed Sales Price $336,385 Median Closed Sales Price Homes Sold 37 Months of Inventory 1.0 Average Days On Market 15 $342,991 Average Closed Sales Price
Q2 2023 Atlanta Market Snapshot 82 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Woodstock TOWNHOMES Union City TOWNHOMES $207,000 Median Closed Sales Price Homes Sold 17 Months of Inventory 1.4 Average Days On Market 27 $176,262 Average Closed Sales Price $415,000 Median Closed Sales Price Homes Sold 83 Months of Inventory 1.5 Average Days On Market 41 $428,169 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.
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.
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.
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.
Q2 2023 Atlanta Market Snapshot 84 evatlanta.com Source: FMLS, InfoSparks, TrendGraphix, Q2 2023 (4/1/23 to 6/30/23) Engel & Völkers Atlanta evatlanta.com | 404.845.7724 ©2023 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Engel & Völkers and its independent license partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.