September 12, 2025

Buyer’s Market Conditions, Yet Atlanta Luxury Still Outpaces Last Year (first half 2025, $1M+)

Let’s take a look back at the first part of the year (January-June 2025) to take note of any trends happening.
** Link to Market Metrics page at the bottom of this post. **
All data is for condos priced above $1M
(High-Rise, Mid-Rise + Lofts, no town homes are included)

The first half of this year revealed a luxury condo market in Atlanta that shifted dramatically from strength to softness. January opened with 87 active listings and 25 closings totaling more than $50 million, but over half of that activity came from The Dillon, which alone accounted for 14 closings. Once those pre-sale contracts were absorbed, the impact of new construction faded and the market became increasingly resale-driven.

From January’s surge, where The Dillon accounted for more than half of all closings, the market quickly shifted. February produced some of the year’s biggest headline sales, including an $8.7M Graydon penthouse at a record $1,239/ft, but overall activity slowed. Through spring, inventory climbed from 90 to 105 listings while monthly closings leveled off in the single digits. Concessions, heavy in January, nearly vanished by May, even as days on market briefly compressed to just 32. By June, the slowdown was unmistakable: only six sales closed at a median of $1.58M, average prices slid to $585/ft, and inventory spiked to 25.8 months, one of the clearest buyer’s market signals in recent memory.

Taken together, the data tells a clear story. Atlanta’s $1M+ condo market started 2025 with energy, strong pricing, and meaningful volume, but much of that strength was front-loaded by The Dillon’s delivery. Once developer sales were absorbed, resales drove the narrative, exposing slower absorption, longer marketing times, and sliding per-foot values.

For buyers, today’s market offers more choices, lower prices per square foot, and greater negotiating leverage. For sellers, success depends on precise pricing, polished presentation, and patience. The second half of 2025 will hinge on whether buyer demand can stabilize enough to absorb the elevated inventory, or if sellers will need to continue adjusting expectations to meet the market where it stands.

The story doesn’t end here. The Atlanta luxury condo market is going strong, even if it appears things are sliding in the wrong direction.

By the Numbers: 2025 vs. 2024 | It’s a strong luxury market
The numbers reveal important strengths and takeaways when compared across periods

Sales Activity (For Sale / Sold / Pended):
While June reflected clear buyer’s market conditions, it’s worth noting that year-to-date closings are still up 61% compared to the same time in 2024. That strength was heavily front-loaded by January’s wave of new construction closings at The Dillon. Without that boost, the market since February has been defined by rising resale inventory and slower absorption.

Price per Square Foot:
The average sold price per square foot stands at $736, up 21% from $609 at this time last year 2024. Even with June’s slide to $585/ft², year-to-date averages are still running ahead of last year, thanks to strong early-year luxury closings.

Days on Market:
Homes are taking about the same time to sell this year as in 2024. The average year-to-date DOM is 80 days versus 81 days in 2024. Despite monthly volatility (from 32 days in May to 77 in June), the year-to-date DOM is nearly identical to 2024, showing that on balance, homes are not taking longer to sell than last year. The overall pace is holding steady.

Months of Inventory:
Year-to-date supply averages 9.6 months in 2025 compared to 15.5 months in 2024, a 38% improvement. Even though June spiked to 25.8 months of supply, the year-to-date average is actually lower than 2024, meaning absorption overall has been stronger this year, again, largely because of January’s front-loaded closings at The Dillon.

For Sale/Sold/Pending

This chart displays the number of $1M+ condos in Atlanta that were for sale, sold, or pended (under contract) from January to June 2025.

Key Insights:

  • January (87 for sale, 25 sold, 10 pended): The year started strong, with the highest sales count of 25 closings.
  • February (90 for sale, 9 sold, 5 pended): Sales slowed sharply, dropping to just 9, with pending also cut in half.
  • March (95 for sale, 8 sold, 11 pended): Inventory rose, but sales remained sluggish, with pending showing a brief uptick.
  • April (95 for sale, 9 sold, 7 pended): Activity held flat, reflecting steady but limited demand.
  • May (105 for sale, 10 sold, 9 pended): Inventory peaked at 105, but sales stayed muted at 10 closings.
  • June (103 for sale, 4 sold, 5 pended): Demand bottomed out, with only 4 sales despite elevated supply.

Overall Analysis:
The chart highlights a market where inventory steadily increased while sales dropped dramatically after January. Pending stayed modest, leaving a clear gap between supply and demand that set the tone for a buyer’s market by mid-year.

 
Month’s of Inventory

This chart displays the months of inventory for $1M+ condos in Atlanta from January to June 2025, measuring how long it would take to sell all listings at the current sales pace.

Key Insights:

  • January (3.5 months): A balanced market, with supply and demand aligned.
  • February (10.0 months): Supply surged, signaling a buyer’s advantage.
  • March (11.9 months): Inventory continued to build, with weak absorption.
  • April (10.6 months): Conditions held firmly in buyer’s market territory.
  • May (10.5 months): Market balance remained unchanged, with high supply.
  • June (25.8 months): Inventory spiked to extreme levels, reflecting very limited demand.

Overall Analysis:
The progression from January to June shows a dramatic market shift. Balanced conditions in January gave way to persistent oversupply, culminating in June’s 25.8 months of inventory — one of the strongest buyer’s market signals in years.

 

Average Days on Market

This chart displays the average days on market for $1M+ condos in Atlanta from January to June 2025, showing how long properties took to sell.

Key Insights:

  • January (84 days): Homes took just under three months to sell on average.
  • February (86 days): Market pace held steady with little change.
  • March (86 days): Similar to February, with extended timelines still common.
  • April (58 days): Sales sped up, dropping to under two months.
  • May (32 days): Fastest month of the year, with homes selling in about a month.
  • June (77 days): Marketing time lengthened again, approaching January levels.

Overall Analysis:
The data shows sharp fluctuations in pace. May demonstrated that well-priced units could sell quickly, but June’s slowdown reflected a buildup of unsold inventory and softer demand.

 

Average Price Per Square Foot (sold)

This chart displays the average price per square foot for $1M+ condos in Atlanta from January to June 2025.

Key Insights:

  • January ($784/ft²): A solid start to the year, with values in the high $700s.
  • February ($899/ft²): Prices peaked, boosted by high-end penthouse sales.
  • March ($710/ft²): Values began to soften, falling over $180 from February.
  • April ($619/ft²): Prices slid further as larger resale units closed.
  • May ($666/ft²): A modest rebound, though still well below winter highs.
  • June ($585/ft²): The lowest point of the period, marking a 34% drop from February.

Overall Analysis:
After February’s peak, values declined month after month, showing clear buyer leverage. By June, prices were at their weakest point, underscoring a market under pressure.

 

** These results do not include any inventory under contract or active which a developer has not listed in the MLS. Also, it does not include any town home units. **

Click Here for the Market Metrics Page
(By-the-Month Highest Condo Sales, January-June 2025 Wrap-Up + the SIR Mid-Year Global Outlook and more)

Visit atlantaSKYrise.com ® for everything Atlanta condo related!

Thank you for visiting my condo blog! I’m thrilled to share my passion for Atlanta’s condo market with you. I prioritize delivering honest and insightful content that reflects my commitment to integrity and transparency. I am dedicated to providing you with comprehensive information, fun stories, beautiful photography and of course, gorgeous properties. While comments are currently turned off, I encourage you to get in touch with me directly. If you have any story ideas, tips to share, or simply want to chat about the market, I’m here to listen and help. Your feedback and suggestions are always welcome, as they help me create content that is both relevant and enjoyable for you. Feel free to reach out anytime. I look forward to connecting with you!