Atlanta lags; Richmond surges
Atlanta’s spring market is cooling hard — pending home sales are at a 12‑year low as buyers pull back amid higher rates and global volatility. By contrast, Richmond saw a surge in sales this month but limited inventory keeps it a seller’s market. (bizjournals.com) (axios.com)
Georgia MLS data reported metro Atlanta homes under contract fell 24.6% year‑over‑year in December, sliding from 3,542 in November to 3,245, according to Atlanta Agent Magazine’s summary of the MLS release. (atlantaagentmagazine.com) The Atlanta Journal‑Constitution found that almost 17% of pending home sales were canceled in December, a spike in contract terminations that industry analysts flagged this winter. (ajc.com) Local market trackers say active listings in the metro are up roughly 9% year‑over‑year, increasing buyer options compared with the frenzy years of 2020–2022. (atlantarealestateforum.com) Zillow’s metro Atlanta profile shows the typical Atlanta home value at about $381,549 and reports homes are taking roughly 73 days to go pending, signaling longer marketing times than peak pandemic months. (zillow.com) Homes.com’s Richmond market report shows Richmond completed 1,092 home sales in February — a 10.4% year‑over‑year gain and the second‑largest sales increase among the top 40 U.S. markets that month. (homes.com) Reporting tied to local MLS figures says Richmond’s total supply is about 10% lower year‑over‑year and single‑family listings are down roughly 14%, leaving just over a month of inventory and keeping conditions in favor of sellers. (axios.com) Homes.com also notes Richmond’s median sale price rose about 2.6% year‑over‑year in February — roughly a $10,000 nominal increase — even as price growth has cooled compared with the pandemic years. (homes.com)
