In September, houses were closing for prices 13% higher compared to last year across the six markets Dorsey Alston Realtors tracks closely, while the number of new listings fell 19% and the overall number of sales dropped 35%.
The broader 11-county metro Atlanta area reflects the trends. Sales are down, as are new listings, and prices are up over the same period. New listings in September totaled 7,407, a 5.3% decrease from August and a 6% decrease from last September, while active listings jumped 6.7% month over month and 33% year over year to 13,999.
The biggest difference is the lack of new listings hitting the market in Buckhead, Sandy Springs, East Cobb, Intown, North Fulton, Sandy Springs, Brookhaven and Dunwoody , while the broader metro area is seeing more of them.
The Intown average sales price climbed to $632,833, up 20% compared to September 2021. The 362 new listings represented a 24% drop, with the average number of days on the market falling to 25. The average sales price for a detached single-family home climbed to $848,440, a 32% jump.
New listings in the combined Brookhaven and Dunwoody market dropped 18% compared to the previous year, while the $658,894 average sales price marks a 16% increase. The 131 sales were a 32% decline. The average sales price for a detached single-family home in Brookhaven and Dunwoody was $834,908, up 22%.
North Fulton had an average sales price of $708,349, which is a 13% increase over 2021. The 380 new listings are a 13% drop, while the average number of days on the market fell to 20. The average sales price for a detached single-family home was $789,840, an 11%increase over September of 2021.
The average sales price in East Cobb was $505,247, up 4% over last year. For a detached single-family home, it was $534,345. The 212 sales represent a decline of 28%, but the 522 active listings are a 25% jump. The average number of days on the market increased to 24 days.
The average price for a detached single-family home in Sandy Springs was $1,105,921, while the average price for attached and detached combined was $679,587, a 12% jump compared to last year. The average number of days on the market was 27, with 162 new listings, a 22% drop.
There were 308 new listings in Buckhead, a 24% drop, and 169 sales, a 40% drop. The average sales price for a detached single-family home was $1,339,212, up 8%. The average number of days a house sat on the market was down 13% to 26 days.
Let us know if we can help you navigate the Atlanta real estate market as you consider listing or buying a home.