For the first time since 2019, Atlanta’s real estate market is beginning to level out, finally showing signs of heading towards a more balanced state. This shift is reflected in a key measure called Months of Inventory (MOI). MOI represents how long it would take to sell all the homes currently for sale if no new homes were listed. In a balanced market, this number is typically around six months, meaning neither buyers nor sellers hold a major advantage.
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As of September 2024, Atlanta’s MOI has risen to 4.2 months, which is the highest we’ve seen since before the pandemic. This is a big jump from the extreme lows of recent years, such as March 2022 when it hit just 0.7 months. Over the past year, inventory has gradually increased, from 2.5 months in September 2023 to 4.2 months today. This tells us that the number of homes for sale is starting to meet the demand from buyers.
What does this mean for the market? It signals that the seller-dominated frenzy we saw in recent years is calming down. With more homes available, buyers may soon find themselves with more choices and a bit more room to negotiate. Prices in Atlanta are unlikely to go down, but the pace of growth is expected to slow. That’s good news for anyone who’s been struggling to find a home in Atlanta’s fast-moving market.
For sellers, while the market isn’t as intensely competitive as it was, it’s still in a strong position, and Atlanta continues to be a hot spot for people relocating which contributes to overall demand-fueled price appreciation. This gradual shift towards balance is a healthy sign for the real estate market overall, giving both buyers and sellers a fairer playing field moving forward.
As Atlanta’s market continues to stabilize, staying informed about these trends can help you make better decisions in today’s housing market. Whether you’re planning to buy or sell, knowing where the market stands can give you the upper hand in navigating the real estate landscape.