Analysis: Atlanta home-price increases lagging most other U.S. cities

For aspiring metro Atlanta homeowners discouraged by median housing prices that have ballooned by 60 percent since the COVID-19 pandemic began, findings in a new nationwide analysis of cities could be encouraging. 

For current homeowners around Atlanta, not so much. 

Homes.com has tracked hundreds of thousands of home sales across the country and found that median home prices in metro Atlanta continue to grow—but at a pace considerably slower than the national average. 

The median sales price of houses sold in metro Atlanta increased by 1.4 percent year-over-year this March, which was “significantly cooler” than the growth seen last year, when prices bumped up by more than 6 percent over 2023 numbers, according to the analysis by Homes.com, a residential real estate marketplace and a brand of CoStar Group. 

That means metro Atlanta ranked near the bottom (No. 32) in terms of home-price growth in the 40 largest U.S. cities. 

Interestingly, Homes.com’s findings indicate the highest home-price appreciation in March was regionally concentrated in colder cities in the Northeast and Midwest—and was lowest in traditionally hot Southern markets. 

“Cleveland led the way, with prices increasing over 10 percent in the past year, followed by Chicago, New York, and Pittsburgh,” notes an analyst summary. “By contrast, the South only had one market, Austin, in the 10 biggest price increases but had five of the 10 bottom markets.”

Nationally, median home prices had climbed 2.2 percent in March compared to a year ago. 

In metro Atlanta, the 1.4-percent yearly increase ending in March meant median home prices climbed about $5,000, rising from $370,000 to $375,000, per Homes.com’s findings. 

That means metro prices are still lower than the median home price nationally, which in March clocked in at $380,000, per the analysis. (A silver lining for metro ATL? Maybe). 

Here's a look at how metro Atlanta stacked up among its U.S. peers over the year that was, according to Homes.com's findings: 

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