Is Lookout Mountain, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lookout Mountain is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Lookout Mountain has remained a Seller's Market.

Key Takeaway

Lookout Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lookout Mountain, GA

How much do homes in Lookout Mountain, GA cost?

Median Sold Price

$475,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$77,000(+19.3%)

Key Takeaway

Homes in Lookout Mountain have sold for 19.3% more than they did a year ago.

Summary: The median home sold price in Lookout Mountain was $475,000 in May 2024, up 19.3% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $235K$325K
+38.3%
2 $371K$345K
-7.0%
3 $380.5K$435K
+14.3%
4 $530K$575K
+8.5%
5+ $1.3M$1.1M
-15.2%

Summary: Lookout Mountain housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 38.3%, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 15.2%.

Median Sold Price Compared To Nearby Cities

Rising Fawn
+44.8%
Lookout Mountain
+19.3%

Housing Supply in Lookout Mountain, GA

How many homes are available in Lookout Mountain, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4038-5.0%

Summary: The Lookout Mountain real estate market had 38 homes for sale in May 2024, a 5.0% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 26
+200.0%
3 1816
-11.1%
4 139
-30.8%
5+ 77
0.0%

Summary: The Lookout Mountain 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 200%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
1014+40.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lookout Mountain, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in Lookout Mountain in May 2024, up by 40.0% month-over-month. Of the 14 sold homes, 71% were sold under asking, 21% were sold at asking, and 7% were sold over asking.

Days on Market for Lookout Mountain, GA

How long does it take to sell a home in Lookout Mountain, GA?

Average Sale Time

May 2023May 2024CHANGE
25 Days10 Days-60.0%

Summary: Homes in Lookout Mountain had an average of 10 days on market in May 2024, down by 60% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lookout Mountain are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 14 homes were sold in Lookout Mountain; 21% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Lookout Mountain, GA

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