Atlanta REALTORS® Market Brief: January 2021 February 18, 2021
January Highlights Demand: January residential sales were at 4,421, an increase of 1.0% from the previous year.
Price: Average and median sales prices continue to outpace 2020’s figures, with positive gains. The median sales price in January was $309,000, an increase of 17.9% from last January. The average sales price was $379,000, up 17.9% from the previous year.
Supply: Atlanta area housing inventory totaled 8,133 units in January, a decrease of 48.5% from January 2020. New listings totaled 6,679, down 19.4% from January 2020 and up 27.1% from the previous month. The month’s supply over a 12-month period decreased to 1.2 months.
A Word from 2021 Atlanta REALTORS® President Cynthia Lippert: "The strong year over year gains in 2020 continued into the first month of 2021 as predicted, with sales up slightly from last January," stated Cynthia Lippert, 2021 President of the Atlanta REALTORS® Association. “Even with sales increasing, the market is constrained by the ongoing decrease in available inventory as it was further reduced in January to 1.2 months supply.”
“As the gap between supply and demand continues to widen, we should be mindful of the more pronounced effect of this trend on affordable housing and its impact on the local economy,” Lippert adds. “Average and Median prices are up almost 18% which means already low inventory levels in lower price points will continue to dwindle, putting further strain on entire segments of the market.”