Is Menlo, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Menlo was a Neutral Market.
Key Takeaway
Menlo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Menlo, GA
How much do homes in Menlo, GA cost?
Median Sold Price
$340,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Menlo have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in Menlo was $340,000 in May 2024, down 1.7% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $347.5K | $325K | -6.5% |
| 2 Bedrooms | $189.5K | $285K | +50.4% |
| 3 Bedrooms | $380K | $451.2K | +18.8% |
| 4 Bedrooms | $950K | $502.5K | -47.1% |
| 5+ Bedrooms | - | - | N/A |
Summary: Menlo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 50.4%, 3 bedroom homes increased by 18.8%, 4 bedroom homes decreased by 47.1%, and 5+ bedroom homes did not change.
Housing Supply in Menlo, GA
How many homes are available in Menlo, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 17 | 0.0% |
Summary: The Menlo real estate market had 17 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Menlo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 66.7%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Menlo, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Menlo in May 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.
Days on Market for Menlo, GA
How long does it take to sell a home in Menlo, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 100 Days | 6 Days | -94.0% |
Summary: Homes in Menlo had an average of 6 days on market in May 2024, down by 94% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Menlo are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Menlo; 14% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.