Atlanta ranks No. 5 in U.S. for home sales in July

by John Yellig in Atlanta Agent Magazine

Atlanta ranked No. 5 among major U.S. cities for the number of home sales in July after an 8.4% month-over-month rise in transactions, according to the most recent RE/MAX National Housing Report.  

Closed sales rose 7.1% annually to 7,147 transactions from 6,676 in July 2023. Month over month, they were up from 6,600. New York, Chicago, Dallas and Houston took the top four spots, respectively.  

Atlanta also ranked fifth in the U.S. for housing inventory. Listings rose 3.3% month over month and 45.1% year over year to 22,684. Miami, Houston, Dallas and New York took the top spots, respectively. Months supply of inventory jumped 13.1% month over month and 57.9% year over year to 3.2 months. 

The median price of homes sold in Atlanta slid 4.4% month over month and 0.9% year over year to $401,500. Houses spent an average of 41 days on the market in July, up 11.5% from 36 in June and 25.6% from 32 in July 2023. 

“July’s real estate activity is a promising sign of market resilience,” RE/MAX President Amy Lessinger said in the report. “Inventory bounced back after the historic lows of recent years, giving buyers far more options – even with the recent declines in new listings.”

Full article: https://atlantaagentmagazine.com/2024/08/22/atlanta-no-5-for-home-sales/