Is Morrow, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Morrow has remained a Seller's Market.
Key Takeaway
Morrow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Morrow, GA
How much do homes in Morrow, GA cost?
Median Sold Price
$232,333
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Morrow have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Morrow was $232,333 in May 2024, up 1.2% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $155K | $161K | +3.9% |
| 3 Bedrooms | $224.9K | $224.5K | -0.2% |
| 4 Bedrooms | $252.5K | $271K | +7.3% |
| 5+ Bedrooms | $295.4K | $305K | +3.2% |
Summary: Morrow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Lake City | $207K | $235K | +13.5% |
| Forest Park | $190K | $198.9K | +4.7% |
| Morrow | $229.5K | $232.3K | +1.2% |
| Forest Park-Morrow | $232.6K | $230K | -1.1% |
Housing Supply in Morrow, GA
How many homes are available in Morrow, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 98 | 105 | +7.1% |
Summary: The Morrow real estate market had 105 homes for sale in May 2024, a 7.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 14 | 15 | +7.1% |
| 3 Bedrooms | 38 | 44 | +15.8% |
| 4 Bedrooms | 33 | 37 | +12.1% |
| 5+ Bedrooms | 13 | 9 | -30.8% |
Summary: The Morrow 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 increased by 7.1%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 30.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 18 | -25.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrow, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Morrow in May 2024, down by 25.0% month-over-month. Of the 16 sold homes, 69% were sold under asking, 19% were sold at asking, and 13% were sold over asking.
Days on Market for Morrow, GA
How long does it take to sell a home in Morrow, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 26 Days | -27.4% |
Summary: Homes in Morrow had an average of 26 days on market in May 2024, down by 27.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Morrow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Morrow; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% 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.