Is Downtown Atlanta, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Downtown Atlanta was a Seller's Market.
Key Takeaway
Downtown Atlanta is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown Atlanta, GA
How much do homes in Downtown Atlanta, GA cost?
Median Sold Price
$275,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Downtown Atlanta have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in Downtown Atlanta was $275,000 in May 2024, down 1.8% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $260K | +8.3% |
| 2 Bedrooms | $348.8K | $375K | +7.5% |
| 3 Bedrooms | $645K | $639.9K | -0.8% |
| 4 Bedrooms | $950K | - | N/A |
| 5+ Bedrooms | - | $1.3M | N/A |
Summary: Downtown Atlanta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 7.5%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Downtown Atlanta, GA
How many homes are available in Downtown Atlanta, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 145 | 161 | +11.0% |
Summary: The Downtown Atlanta real estate market had 161 homes for sale in May 2024, a 11.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 91 | 108 | +18.7% |
| 2 Bedrooms | 43 | 44 | +2.3% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown Atlanta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.7%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 13 | -27.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Atlanta, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Downtown Atlanta in May 2024, down by 27.8% month-over-month. Of the 12 sold homes, 58% were sold under asking, 8% were sold at asking, and 33% were sold over asking.
Days on Market for Downtown Atlanta, GA
How long does it take to sell a home in Downtown Atlanta, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 82 Days | 36 Days | -55.6% |
Summary: Homes in Downtown Atlanta had an average of 36 days on market in May 2024, down by 55.6% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Downtown Atlanta are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Downtown Atlanta; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
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