Is 31407, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 31407 has remained a Seller's Market.
Key Takeaway
31407 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 31407, GA
How much do homes in 31407, GA cost?
Median Sold Price
$310,000
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 31407 have sold for 9% more than they did a year ago.
Summary: The median home sold price in 31407 was $310,000 in March 2024, up 9% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $171.2K | $197.6K | +15.4% |
| 3 Bedrooms | $264.5K | $295K | +11.5% |
| 4 Bedrooms | $320K | $347.5K | +8.6% |
| 5+ Bedrooms | $360K | $460.3K | +27.9% |
Summary: 31407 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 11.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 27.9%.
Housing Supply in 31407, GA
How many homes are available in 31407, GA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 57 | 62 | +8.8% |
Summary: The 31407 real estate market had 62 homes for sale in March 2024, a 8.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 29 | 32 | +10.3% |
| 4 Bedrooms | 12 | 15 | +25.0% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 31407 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 18 | 16 | -11.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 31407, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in 31407 in March 2024, down by 11.1% month-over-month. Of the 16 sold homes, 50% were sold under asking, 6% were sold at asking, and 44% were sold over asking.
Days on Market for 31407, GA
How long does it take to sell a home in 31407, GA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 10 Days | -81.8% |
Summary: Homes in 31407 had an average of 10 days on market in Mar 2024, down by 81.8% 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
Key Takeaway
Many homes in 31407 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 16 homes were sold in 31407; 19% 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.
Based on information from the Georgia MLS © 2024.