June Market Update

The end of June marks the midway point for the year; a perfect time to take stock of the current market metrics. June inventory levels remain at a historical low with no indications of change coming anytime soon. As a result, prices continue to climb.

Although home sales have seen a slight increase, this number is hindered from the lack of available homes on the market. This lack of supply also impacts pending sales, which are noticeably down from this time last year. Pending sales are not down due to lack of demand, which is confirmed when we look at the average days on market. Because the average home sells in 6 days, this shows incredible demand. All these factors lead to the continued rise in prices with the average home now selling for $372,750.

By the numbers:

Inventory: -40% YoY

Sold Homes: 1.2% YoY

Pending Sales: -15.5% YoY

Avg. Sales Price: +26.4% YoY

Average: $372,750

Avg. Days on Market: -68.4% YoY

Average: 6 days

To stay up to do date with the market and all things Engel & Völkers visit www.evatlanta.com

_{Source: TrendGraphix, Metro-Atlanta, June 2020 & 2021, all types and price points}

If you have been thinking about selling your house or need assistance in your home search, we are here to help. For more information about market specifics or to speak to one of our seasoned advisors, visit evatlanta.com. And follow us on Facebook for daily updates on all things Atlanta.