Atlanta Ranks Fourth in June Home Sales

Atlanta ranked fourth among major U.S. cities for home sales in June, up one spot from May, despite a significant decline in transactions, according to the latest RE/MAX National Housing Report.

Closed sales fell 14.3% year-over-year, from 7,701 transactions in June 2023 to 6,600. Month-over-month, they were down 14.5% from 7,723 transactions in May. New York, Chicago and Houston took the top three spots, respectively.

Atlanta ranks fourth in the U.S. in terms of active inventory, with 21,959 active listings, representing a 51.8% increase year over year and a 9.5% increase month over month. Miami, Houston and New York City take the top three spots. Atlanta ranks fifth behind New York, Houston, Chicago and Washington DC, in new listings, with a 15.6% increase year over year to 12,255 listings.

The median price of homes sold in Atlanta in June increased 3.7% month over month and 5% year over year to $420,000. Homes spent an average of 36 days on the market in June, up 6.3% from 34 days in May and up 17.1% from 31 days in June 2023. Atlanta’s housing inventory jumped 10.9% month over month and 59% year over year to 2.8 months.

“It’s good to see inventory levels increasing as more listings represent more options for buyers,” said Amy Lessinger, president of RE/MAX, in a news release. “Given the decline in sales, it’s clear that buyers are sensitive to interest rates, highlighting the need for lower rates to drive meaningful growth in market activity.”