North Fulton had the most significant percentage increases in sales price as well as list price, while the average number of days on the market shrank compared to June 2020.
Intown Atlanta saw the biggest percentage increase in sales, and Sandy Springs had the most significant percentage jump in the number of new listings.
Dorsey Alston reviewed FMLS (First Multiple Listing Service) data for June and compared those numbers to the same time last year. Across most markets, we saw a slight uptick in new listings. Sales and close prices were up, and days on the market were half what they were last year.
North Fulton had a 27% increase in average sales price, leading the six metro Atlanta markets we studied. In 2020, the average closed price for a home changing hands in the area, including Roswell, Alpharetta and Milton, was $510,397. Last month, it was $648,730. The average number of days on the market fell from 47 to 15, a 68% drop.
The Intown Atlanta market, including Ansley Park, Morningside/Lenox Park, Virginia-Highland and Midtown, had a 50% jump in the number of sales, from 176 in June 2020 to 265 last month. The average sales price was up 12%, to $570,181 from $506,870. The average number of days on the market was down 28% to 33 compared to last year.
Sandy Springs had the most significant percentage jump in the number of listings, up 13%, from 196 in June 2020 to 223 last month. The average closed sales price was $633,438, a 17% increase, while the average number of days on market fell 58% to 21. The number of sales climbed 31%.
East Cobb was well ahead of Sandy Springs in an average closed sales price increase of 22.5%, to $505,784 from $412,751, while the average number of days on the market fell into the teens from 34 the previous year. East Cobb, which includes Kell, Lassiter, Pope, Sprayberry, Walton and Wheeler high schools, had a 22% increase in the number of homes sold.
Buckhead had about the same number of houses hit the market as the previous year but saw a significant increase in the number of sales, up 43%. The average closed price was $687,947, compared to $573,422 last year. Houses stayed on the market an average of 33 days, compared with 53 a year ago.
Similarly, the Dunwoody/Brookhaven market had roughly the same number of listings, with closings up 8% compared to a year ago. The average sales price for June was $585,892, up 14%, while the days on the market dropped 50% to 20.
Atlanta’s housing market remains strong. Prices are still climbing. The number of days on the market has fallen precipitously, and the number of closings is up a significant amount on a month to month basis.
For example, North Fulton had 589 closings in June compared to 460 in May, and Buckhead closings jumped to 502 in June, compared to 338 in May.
For homeowners, it is still an excellent time to put your house on the market. Call us today if we can be of service!
