Is Southwestern 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, Southwestern Atlanta was a Seller's Market.
Key Takeaway
Southwestern Atlanta is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Southwestern Atlanta, GA
How much do homes in Southwestern Atlanta, GA cost?
Median Sold Price
$290,000
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southwestern Atlanta have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Southwestern Atlanta was $290,000 in May 2024, down 3.3% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $150K | -3.2% |
| 2 Bedrooms | $213K | $205K | -3.8% |
| 3 Bedrooms | $281.8K | $281.1K | -0.2% |
| 4 Bedrooms | $375K | $360K | -4.0% |
| 5+ Bedrooms | $480.4K | $430K | -10.5% |
Summary: Southwestern Atlanta housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 10.5%.
Housing Supply in Southwestern Atlanta, GA
How many homes are available in Southwestern Atlanta, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 899 | 1,034 | +15.0% |
Summary: The Southwestern Atlanta real estate market had 1,034 homes for sale in May 2024, a 15.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 9 | +50.0% |
| 2 Bedrooms | 115 | 117 | +1.7% |
| 3 Bedrooms | 478 | 551 | +15.3% |
| 4 Bedrooms | 225 | 260 | +15.6% |
| 5+ Bedrooms | 75 | 97 | +29.3% |
Summary: The Southwestern Atlanta housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 1.7%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 15.6%, and 5+ bedroom homes increased by 29.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 146 | 150 | +2.7% |
Asking Price vs. Sold Price
68 Homes Were Sold
Under Asking
40 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwestern Atlanta, you may be able to get a good deal. 50.7% of homes here sold below asking price last month.
Summary: A total of 150 homes were sold or pending in Southwestern Atlanta in May 2024, up by 2.7% month-over-month. Of the 134 sold homes, 51% were sold under asking, 30% were sold at asking, and 19% were sold over asking.
Days on Market for Southwestern Atlanta, GA
How long does it take to sell a home in Southwestern Atlanta, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 38 Days | +5.3% |
Summary: Homes in Southwestern Atlanta had an average of 38 days on market in May 2024, up by 5.3% compared to last year.
Breakdown of Home Sale Times
83 Homes Were Sold
Under 30 Days
50 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwestern Atlanta are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 150 homes were sold in Southwestern Atlanta; 55% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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