Atlanta Quarterly Market Report | Q1 2022

Welcome to spring in Atlanta! The first quarter numbers are in and the housing market has continued with some pandemic era trends as we kicked off the year. 

The LaMon Team with Keller Williams Buckhead is excited to share our Q1 2022 Atlanta Real Estate Market Report. 

It provides valuable insights into how our neighborhoods are performing and what to expect from the spring and summer housing market– typically the busiest time of year for both buyers and sellers!

Atlanta Real Estate Trends 

The Highlights from Q1 2022

• Although home prices continue to surge, we are seeing the market fall back into its normal ‘seasonal’ pattern. January home sales started off slower and things have heated up heading into spring.
• March was the fifth-consecutive month of greater than 20% annual appreciation in metro Atlanta.
• Home prices have showed no sign of slowing despite the fact that rising interest rates are now having an effect on demand.
• In March, 52% of homes went for above asking price.
• The number of new mortgages for home purchases in Atlanta grew by 16% month over month in March.
• Metro Atlanta has hovered around one month's supply of homes for sale.
• Two intown enclaves stand out from their neighbors in terms of growth: Buckhead's 30305 & 30309, which contains parts of South Buckhead, Midtown and Ansley Park.

RECENTLY LISTED IN HAYNES MANOR BY THE LAMON TEAM 

Will Housing Prices Dip This Year?

Multiple factors play into the current red-hot market, including interest rates, which until the past month have remained at historically low levels. With the Fed recently hiking rates a half a percentage point (the largest increase in 22 years), many are wondering if a crash is on the horizon?

Despite rising rates, real estate experts are not predicting a significant dip in home prices this year. Why? The lack of housing supply is the main culprit. 

New construction lagged in the years following the Great Recession, and now homebuilders are trying to catch up. Some homeowners who might otherwise put their houses on the market have decided to wait, for fear of becoming buyers in the most extreme sellers' market anyone can remember.

What Does This Mean For You?

As a seller, this spring and summer offer the best opportunity to list your home for top dollar. Inventory is still extremely low and multiple offers are common. This demand may decrease in the fall/winter months as more buyers are knocked out of the market due to rising interest rates. 

If you’re a buyer, do not wait until interest rates increase even more! Experts say prices will continue to appreciate this year. That means, if you’re ready, buying your next home before prices climb further may make the most financial sense. 

Our team’s mission is to help you build a life you love! We’re experts at navigating this complex market and would love to guide you through the process of finding a home that supports the lifestyle you are building! Contact our team to learn more about buying and selling in Atlanta.