Atlanta Real Estate in May: Sales Up 36% YoY, Inventory Down 61% YoY

Note: Remember, sales were weak in April and May last year, so the year-over-year comparison is especially strong this month. I’m tracking data for many local markets around the U.S. I think it is especially important to watch inventory this year.

From the GAMLS for Atlanta:

Total Residential Units Sold in May 2021 were 9,066, up 36.1% from 6,662 in May 2020.

Active Residential Listings in May 2021 were 7,530, down 61.1% from 19,352 in May 2020. Inventory was up 8.1% from 6,964 last month.

Months of Supply was 0.86 Months in May 2021, compared to 2.53 Months in May 2020.

Georgia MLS InventoryClick on graph for larger image.

This graph from the Georgia MLS shows inventory in Atlanta over the last several years – and the sharp decline in inventory at the start of the pandemic.

Inventory in Atlanta was above the record low in April 2021.