January often brings a quieter time for residential real estate sales , but Metro Atlanta’s statistics for January 2024 show some areas bustling with activity. Let’s check out the latest market trends.
North Fulton kicked off 2024 with a significant increase in new listings, up by 20%. Although total active listings saw a slight reduction of 5%, sales rose by 9%. This activity translated into a 25% increase in the average sales price for combined properties, now at $829,551. Detached homes saw a 19% increase in average sales price, while attached homes soared by 30%, suggesting a strong buyer interest in this market segment.
In East Cobb, new listings increased by 4%, with active listings decreasing by 10%. The number of sales stayed almost the same, with a slight 1% decrease. However, the average sales price for combined properties saw a healthy rise of 6% to $515,091, indicating sustained property value growth in the area.
Buckhead’s market dynamics were mixed, with new listings up by 16% and total active listings increasing by 15%. The number of sales increased by 9%, but the average sales price for combined properties saw a slight decrease of 1% to $788,603. Detached homes remained relatively stable in pricing, with a 3% increase, while attached homes experienced a small decrease in average sales price.
Intown areas saw a surge in new listings by 20% and a rise in active listings by 19%. Sales decreased by 12%, yet the average sales price for combined properties increased by 16% to $637,247. Both detached and attached homes witnessed price growth, up by 6% and 30% respectively, indicating a continued demand for living in the heart of the city.
Sandy Springs experienced a modest 6% increase in new listings and a 15% increase in active listings. The number of sales decreased by 21%, but the average sales price for combined properties increased significantly by 31% to $838,867. Detached homes saw a substantial price rise, and attached homes also showed a strong increase in average sales price.
Brookhaven/Dunwoody had a 9% increase in new listings, with a small 3% reduction in active listings. Sales saw a slight increase of 2%. The average sales price for combined properties rose by 29% to $710,649. Both detached and attached homes in this area experienced growth in average sales prices.
Across the broader Metro Atlanta area, new listings increased by 11%, while active listings remained steady. There was a slight 1% decrease in sales. However, the average sales price for combined properties saw an uplift of 9% to $483,127. Both detached and attached homes showed increases in average sales price.
January 2024 demonstrated a promising start for the Metro Atlanta real estate market, with several areas showing significant growth in average sales prices despite the usual seasonal slowdown. The increase in new listings across most markets suggests that sellers are confident, and buyers remain active, setting a positive tone for the year ahead in real estate.
If you are interested in learning more about your neighborhood, please reach out to a Dorsey Alston specialist https://www.dorseyalston.com/agents/
