A Strong Finish for Atlanta’s $1M+ Condo Market, Momentum in the Numbers (second half 2025, $1M+)

Let’s take a look back at the second part of the year (July-December 2025) to take note of any trends happening.

** Link to all 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)

Atlanta’s $1M+ condo market in the second half of 2025 moved like a market with plenty of inventory, selective demand, and just enough depth to stay active, but not enough to smooth out month to month volatility. Across July through December, there were only 51 closed sales in the transaction level data, which is the first clue as to why the charts swing so sharply. In a segment this thin, one or two unusual closings, a single month where older listings finally clear, or a handful of larger units trading can dramatically move averages like price per square foot and days on market. The broader trend, though, is consistent. Inventory stayed elevated through most of the fall, absorption remained modest, and buyers largely controlled the pace until December created a brief optical illusion of tightening.

July set the baseline for what would become a familiar pattern, steady closings with patient timelines. The transaction level data shows 9 sales, $12.4 million in total volume, an average close price of about $1.38 million, and a median of $1.29 million. Average days on market sat at roughly 101 days, telling you the typical buyer was not rushing. Even with that measured pace, pricing held up, the month averaged about $609 per square foot in the transactions. On the chart side, inventory was high at 114 active listings and months of inventory based on closings was 11.4, which confirms what the DOM already implied, this was buyer leaning territory from the start, with enough options on the shelf that sellers had to earn attention.

August looked similar in sales count but meaningfully different in pricing. Closings dipped slightly to 8, yet total volume rose to $13.2 million and the average close price jumped to roughly $1.65 million, with the median rising to about $1.455 million. Price per square foot increased as well, averaging about $669. That is not random, it signals that the mix of what sold improved, or that stronger properties were the ones finding buyers. At the same time, average DOM climbed to about 116 days. That combination matters because it describes a market where buyers will pay for quality, but they will still take their time doing it. Inventory stayed high at 106 active listings, and months of inventory remained above 13. This was not tightening, it was selection.

September was the clearest strength month of the six month stretch, and it showed up in both pricing and velocity. Sales held at 8, but total volume jumped again to $15.4 million. The average close price rose to roughly $1.93 million and the median reached about $1.788 million. Price per square foot peaked at about $739, the highest of the period. September stood out because the market got faster and more expensive at the same time, average days on market dropped from roughly 116 in August to about 77 in September, while price per square foot climbed to the six month high. The chart data aligns, pendings were strongest in September at 13, showing real contract momentum, not just closings catching up. Even though inventory remained high at 111 actives and months of inventory approached 14, the market still produced a month where premium inventory traded efficiently and at peak pricing. That is what selective demand looks like.

October is where the charts can mislead you if you read them without the transaction level data. On the surface, it looks like the market slowed sharply, especially when you see days on market blow out. The transaction level data shows only 6 closings and just $8.43 million in volume, so we already know the month is statistically fragile. Average close price slipped to about $1.405 million and price per square foot eased to about $645. But the real story is DOM. The average DOM in the transaction level data is about 208.5 days, and that is not everything suddenly taking longer, it is older inventory finally closing. One October sale carried an extreme 745 days on market, and there were other very long runners in the dataset. With only six total closings, a couple of backlog deals are enough to distort the entire month. That makes October a digestion month, not a demand collapse month, the market was clearing inventory that had been hanging around, and that always drags down speed metrics.

November is the month that proves the market was still capable of clean, premium transactions, even in a buyer leaning environment. Sales stayed at 6, total volume improved to about $11.29 million, and average close price climbed back to about $1.88 million. The median, even more telling, rose to about $1.95 million, the highest median of the period. Yet price per square foot dropped to about $587. That sounds contradictory until you think in terms of product mix, larger square footage units can push total prices and medians higher while pulling per foot numbers lower. The velocity also tightened dramatically, average DOM fell to about 59.8 days. That is a strong signal that well priced, well positioned listings were still moving quickly. In other words, buyers were active, just disciplined, and they were not rewarding overpricing.

December is where the market appears to tighten in the charts, but the pipeline tells a more complicated story. This is the month with the headline numbers, 14 closings and $21.53 million in total volume in the transaction level data, easily the highest of the six month stretch. But the median close price fell back to about $1.363 million and the average close price moderated to about $1.538 million, indicating the mix shifted toward the lower end of the $1M+ band even as volume expanded. Price per square foot softened again to about $580 and average DOM rose to about 125.9 days, which is consistent with older inventory continuing to clear. On the chart side, inventory dropped to 91 actives and months of inventory based on closings collapsed to 6.5, which looks like a major tightening. The catch is pendings. December only produced 4 pending sales. That is the key number because it tells you demand was not replenishing at year end. December was a closing flush, not a demand surge. The market tightened mechanically because deals closed and actives fell, but momentum softened underneath because new contracts dried up.

Atlanta’s $1M+ condo market has quietly repriced upward over the past couple of years, and the second half of 2025 reinforced that trend. This segment will never look like a high volume market, it is too niche, and monthly sales counts are naturally modest. But what it does show, month after month, is consistency. Even with buyers holding leverage and inventory staying elevated for much of the period, closings continued steadily, and pricing held at levels that would have felt aggressive not long ago.

The data makes the point clearly. Only 51 sales closed from July through December, so averages will always move around, but the underlying signal is stable demand for the right product. Price per square foot reached a high point in early fall, and while it cooled into year end, it still finished above summer levels. In other words, this was not a market losing its footing, it was a market absorbing inventory at higher price levels, with buyers staying active, just selective.

Taken together, the second half of 2025 reads like a market that never cracked, but also never regained the kind of broad buyer urgency that would push inventory down organically. September was the peak month for both pricing and speed, October and December were digestion months where older inventory distorted averages, and November proved that premium product could still sell efficiently if it was positioned correctly. Months of inventory remained buyer leaning for most of the period, reaching as high as 15 months in November, and even after December’s compression to 6.5 months, it still hovered on the buyer side of the line. The difference is that December’s tightening was mechanical, driven by closings, not behavioral, driven by increased buyer competition. Heading into early 2026, the next chapter comes down to whether pending activity rebounds and refills the pipeline.

By the Numbers: Consistency Drove the Market

For Sale/Sold/Pending

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

Key Insights:

• July (114 for sale, 10 sold, 11 pended): The period opened with elevated inventory and steady closings, a buyer leaning market, but still active.
• August (106 for sale, 8 sold, 8 pended): Sales eased slightly and pending cooled, reinforcing selective demand even as supply stayed high.
• September (111 for sale, 8 sold, 13 pended): Contract momentum peaked at 13 pending, signaling the strongest buyer engagement of the six month stretch.
• October (114 for sale, 9 sold, 11 pended): Inventory returned to its high point, and activity stayed solid, though the month’s sales were influenced by older listings finally closing.
• November (105 for sale, 7 sold, 9 pended): Closings softened, but pending held up, suggesting demand was still present, just more deliberate.
• December (91 for sale, 14 sold, 4 pended): Closings surged to 14 as inventory tightened, but pending dropped sharply, pointing to a year end slowdown in new contract activity.

Overall Analysis:
Inventory remained steady most of the period, sales were consistent with a late year bump, but new contract activity slowed sharply in December. The market reflects steady conditions followed by a typical year end cooling.

• Inventory was stable, then compressed. Supply did not materially increase during this stretch. December’s decline likely reflects seasonal pullback in listings.

• Closings improved late. The December spike in sales likely reflects contracts written earlier in the fall rather than a sudden surge in new demand.

• Forward demand softened. The sharp drop in pendings in December is the most important signal, suggesting buyer momentum cooled at year end.

• Seasonality appears to be at play. The pattern aligns with typical holiday slowdown rather than structural market deterioration.

Month’s of Inventory

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

Key Insights:

• July (11.4 months): A clear buyer’s market, with supply well ahead of demand.
• August (13.3 months): Buyer leverage strengthened, as inventory remained heavy relative to sales.
• September (13.9 months): Supply stayed elevated, keeping the market firmly buyer leaning despite steady activity.
• October (12.7 months): Slight improvement, but still decisively in buyer’s market territory.
• November (15.0 months): The most buyer friendly month of the period, with the highest inventory level.
• December (6.5 months): A notable tightening, but still technically a buyer’s market, driven by a strong closing month and lower inventory.

Overall Analysis:
The market was firmly buyer leaning from July through November, with elevated supply levels. December shows a notable tightening, cutting months of inventory in half, though it may reflect short term absorption rather than a sustained shift in market balance.

Average Days on Market

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

Key Insights:

• July (93 days): Homes took just over three months to sell on average.
• August (116 days): Market pace slowed, with timelines stretching to nearly four months.
• September (76 days): Sales sped up noticeably, dropping back to about two and a half months.
• October (179 days): Market time spiked sharply, reflecting a month influenced by long running listings finally closing.
• November (82 days): Timelines normalized, returning to under three months on average.
• December (125 days): Marketing time lengthened again, rising to just over four months as year end activity slowed.

Overall Analysis:
Market time improved into September, spiked sharply in October due to likely outlier sales, then normalized in November before slowing again in December. Overall, the market showed volatility rather than a steady directional trend.

Average Price Per Square Foot (sold)

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

Key Insights:

Overall Analysis:
Price per square foot surged into early fall, peaked in September, then eased steadily through the end of the year. The market showed pricing strength mid period, followed by moderate softening heading into year end.

** 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. **

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