Is Newnan, 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, Newnan has remained a Seller's Market.
Key Takeaway
Newnan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newnan, GA
How much do homes in Newnan, GA cost?
Median Sold Price
$384,488
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newnan have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Newnan was $384,488 in May 2024, up 4.3% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $90K | -61.7% |
| 2 Bedrooms | $234.9K | $270K | +14.9% |
| 3 Bedrooms | $306.6K | $321.8K | +4.9% |
| 4 Bedrooms | $424.9K | $416.5K | -2.0% |
| 5+ Bedrooms | $529.5K | $583K | +10.1% |
Summary: Newnan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 61.7%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 4.9%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 10.1%.
Housing Supply in Newnan, GA
How many homes are available in Newnan, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 554 | 606 | +9.4% |
Summary: The Newnan real estate market had 606 homes for sale in May 2024, a 9.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 26 | 27 | +3.8% |
| 3 Bedrooms | 208 | 223 | +7.2% |
| 4 Bedrooms | 208 | 231 | +11.1% |
| 5+ Bedrooms | 110 | 123 | +11.8% |
Summary: The Newnan 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 3.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 134 | 135 | +0.7% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newnan, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 135 homes were sold or pending in Newnan in May 2024, up by 0.7% month-over-month. Of the 124 sold homes, 44% were sold under asking, 34% were sold at asking, and 22% were sold over asking.
Days on Market for Newnan, GA
How long does it take to sell a home in Newnan, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 31 Days | 32 Days | +3.4% |
Summary: Homes in Newnan had an average of 32 days on market in May 2024, up by 3.4% compared to last year.
Breakdown of Home Sale Times
95 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newnan are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 135 homes were sold in Newnan; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 7% 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.