Not enough homes for sale in Atlanta? Every core county but Cobb has lost ground

Metro Atlanta home sellers have the market advantage over buyers right now. Sale prices have steadily risen while the number of homes on the market is down. BRANT SANDERLIN / AJC FILE

caption arrowCaption
Metro Atlanta home sellers have the market advantage over buyers right now. Sale prices have steadily risen while the number of homes on the market is down. BRANT SANDERLIN / AJC FILE

If lack of homes for sale is the Atlanta market’s key woe, the situation has continued to worsen – except in Cobb County, according to a report Tuesday from Re/Max Georgia.

Homes for sale – inventory – has been falling for more than a year, increasingly tilting the market in favor of sellers.

caption arrowCaption
This year's property sales outpace last year so, if you're looking to purchase a home, you should pounce because inventory is limited.

A healthy market typically has an inventory about equal to six or seven months of sales, experts say. Metro Atlanta has consistently been roughly half that level or even lower.

Of course, that situation is good if you are selling a home. And the imbalance between supply and demand is a big reason why prices have been rising in the region.

RELATEDUH-OH FOR HOUSING, ATLANTA POPULATION TO SURGE

In the past month, Fulton County had the highest level of inventory among the region’s core counties: 3.0 months. That was 17 percent lower than a year ago, according to Re/Max.

Cobb had only 2.0 months of inventory, but at least it hasn’t lost ground in the past year, said John Rainey, vice president for Re/Max Georgia. “For buyers, this may mean more options in their price range.”

DILEMMA: BUY OR RENT?  ATLANTA RENTS HAVE BEEN FLATTENING

Inventory levels for April, by county

County .........   Level ......... change from last year

Cobb                        2.0 months           0%

Gwinnett                1.9 months        -14%

Fulton                      3.0 months         -17%

DeKalb                     1.9 months        -21%

Clayton                    2.1 months        -28%

Source: Re/Max Georgia 

MYAJC.COM: REAL JOURNALISM. REAL LOCAL IMPACT.

AJC Business reporter Michael E. Kanell keeps you updated on the latest news about jobs, housing and consumer issues in metro Atlanta and beyond. You'll find more on myAJC.com, including these stories:

Never miss a minute of what's happening in local business news. Subscribe to myAJC.com.

About the Author

Editors' Picks