Is Cornelia, 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, Cornelia has remained a Seller's Market.
Key Takeaway
Cornelia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cornelia, GA
How much do homes in Cornelia, GA cost?
Median Sold Price
$323,999
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cornelia have sold for 15.8% more than they did a year ago.
Summary: The median home sold price in Cornelia was $323,999 in May 2024, up 15.8% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $135K | N/A |
| 2 Bedrooms | $176.4K | $255K | +44.5% |
| 3 Bedrooms | $274.2K | $293.7K | +7.1% |
| 4 Bedrooms | $330K | $346.1K | +4.9% |
| 5+ Bedrooms | $455K | $407K | -10.5% |
Summary: Cornelia 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 44.5%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Mount Airy | $264.7K | $342K | +29.2% |
| Cornelia | $279.6K | $323.9K | +15.8% |
| Baldwin | $299.9K | $295K | -1.6% |
Housing Supply in Cornelia, GA
How many homes are available in Cornelia, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 48 | 62 | +29.2% |
Summary: The Cornelia real estate market had 62 homes for sale in May 2024, a 29.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 17 | 22 | +29.4% |
| 4 Bedrooms | 20 | 30 | +50.0% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Cornelia housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 29.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 22 | +100.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cornelia, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in Cornelia in May 2024, up by 100.0% month-over-month. Of the 20 sold homes, 30% were sold under asking, 40% were sold at asking, and 30% were sold over asking.
Days on Market for Cornelia, GA
How long does it take to sell a home in Cornelia, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 17 Days | -22.8% |
Summary: Homes in Cornelia had an average of 17 days on market in May 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cornelia are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Cornelia; 77% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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