Is 31088, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 31088 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 31088 was a Seller's Market.

Key Takeaway

31088 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 31088, GA

How much do homes in 31088, GA cost?

Median Sold Price

$223,300

$127/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$13,300(+6.3%)

Key Takeaway

Homes in 31088 have sold for 6.3% more than they did a year ago.

Summary: The median home sold price in 31088 was $223,300 in February 2024, up 6.3% from last year, and the median price per square foot was $127.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$105K
N/A
2 $85K$131K
+54.1%
3 $186.5K$199K
+6.7%
4 $266.8K$302.3K
+13.3%
5+ $376.4K$342K
-9.2%

Summary: 31088 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 54.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 9.2%.

Median Sold Price Compared To Nearby Zip Codes

31005
+21.6%
31047
+7.2%
31088
+6.3%

Housing Supply in 31088, GA

How many homes are available in 31088, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
198241+21.7%

Summary: The 31088 real estate market had 241 homes for sale in February 2024, a 21.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 2121
0.0%
3 85108
+27.1%
4 7382
+12.3%
5+ 1829
+61.1%

Summary: The 31088 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 61.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
2728+3.7%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 31088, you could pay more than the asking price. 39.3% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in 31088 in February 2024, up by 3.7% month-over-month. Of the 28 sold homes, 32% were sold under asking, 29% were sold at asking, and 39% were sold over asking.

Days on Market for 31088, GA

How long does it take to sell a home in 31088, GA?

Average Sale Time

Feb 2023Feb 2024CHANGE
36 Days15 Days-56.5%

Summary: Homes in 31088 had an average of 15 days on market in Feb 2024, down by 56.5% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 31088 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 28 homes were sold in 31088; 75% of homes were sold within 30 days, 25% 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 27 Days Ago

Newest Listings in 31088, GA

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