Much about our world has changed since 2020, and the housing market is no exception. Home prices soared in the years during and just after the pandemic, but our current housing market has seen a bit of a cool-down in activity, though prices continue their rise. Other metrics point to a shift to older, smaller homes as shown in the charts below.

In today’s post, we jump into four high-level metrics in the residential real estate market that tell a story about the metro Atlanta region. These metrics cover all single-family home sales in the 11-county area since the onset of the COVID-19 pandemic through the end of last year (2020 – 2024). Those metrics are:

  • Total sales;
  • Median gross sale price;
  • Median size (in square footage); and
  • Median vintage (construction year)

Pictures (and in this case, charts) are worth a thousand words, so a succinct summary of the findings is as follows: Metro Atlanta homebuyers “now” are purchasing fewer, smaller, older, yet more expensive homes as compared to Metro Atlanta homebuyers at the height of the COVID-19 pandemic.

These data come from Parcl Labs, and we reiterate that the metrics shown below involve single-family homes only.

Total Sales

With a peak in 2021 of around 120,000 transactions, regional home sales have generally been trending down ever since. Single-family homes sold in metro Atlanta totaled a little over 65,000 in 2024, or about half of the total just three years prior (in 2021).

Median Sale Price

We have seen a continued uptick in median home sale prices across the region year over year since the onset of COVID-19 to 2024, although the largest increases occurred in 2021 and 2022. The regional median sale price in 2024 topped $400,000 for the first time.

Median Size (Square Feet)

Median size of sales dropped 2020-2022, as the vast majority of homes available (though still limited supply) were existing homes. After a brief upward surge in 2023, the median home size (in square footage) dropped back in 2024, indicating that there is still a shortage of larger, new homes. In 2024, the median square footage of homes sold was 2,214, down from 2,328 in 2020, or roughly a 5% decrease in home size of sold homes.

Median Vintage (Year Built)

Whether due to affordability, availability, or personal preference, the median vintage (or year built) of homes sold in the region continues to trend downwards. The median construction year of all single-family homes sold in 2024 was 1991, falling from 1995 five years ago.

What about 2025 numbers?

You may be curious to see how 2025’s numbers are looking as we approach mid-March. While it wouldn’t be meaningful to look at total sales up to this point in the year, here are what the data show for the other metrics we’ve covered:

  • The median sale price is back down to 2023 levels, or just above $390,000 (but prices do fall with lower demand, as seen often earlier in the year);
  • The median size of homes sold continues to shrink and is at 2,131 square feet for 2025; and
  • The median construction vintage remains at 1991, the same level as in 2024 home sales.

Only time will tell if 2025 transactions outpace the total sold in 2024, but recent trends suggest a lower total–interest rates on mortgages did not fall with the Federal Reserve’s lowering of the prime rate, and those drops have stalled for now with concerns of possible inflationary pressures mounting.

Image credit: Adobe Stock Library, https://stock.adobe.com/search?k=for+sale.