Is Banks County, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Banks County is a seller's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Banks County was a Buyer's Market.

Key Takeaway

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

Housing Prices in Banks County, GA

How much do homes in Banks County, GA cost?

Median Sold Price

$340,000

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$30,000(+9.7%)

Key Takeaway

Homes in Banks County have sold for 9.7% more than they did a year ago.

Summary: The median home sold price in Banks County was $340,000 in February 2024, up 9.7% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $324.7K$117.7K
-63.7%
2 $175K$169.1K
-3.4%
3 $306K$309.5K
+1.1%
4 $369K$374.9K
+1.6%
5+ $500.5K$463.3K
-7.4%

Summary: Banks County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 63.7%, 2 bedroom homes decreased by 3.4%, 3 bedroom homes increased by 1.1%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes decreased by 7.4%.

Median Sold Price Compared To Nearby Counties

Banks County
+9.7%
Franklin County
+5.9%
Jackson County
+3.7%
Hall County
+2.7%
Stephens County
+1.2%

Housing Supply in Banks County, GA

How many homes are available in Banks County, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
98113+15.3%

Summary: The Banks County real estate market had 113 homes for sale in February 2024, a 15.3% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1317
+30.8%
3 3743
+16.2%
4 3540
+14.3%
5+ 1313
0.0%

Summary: The Banks County 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 increased by 30.8%, 3 bedroom homes increased by 16.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1523+53.3%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Banks County, you may be able to get a good deal. 52.4% of homes here sold below asking price last month.

Summary: A total of 23 homes were sold or pending in Banks County in February 2024, up by 53.3% month-over-month. Of the 21 sold homes, 52% were sold under asking, 19% were sold at asking, and 29% were sold over asking.

Days on Market for Banks County, GA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
51 Days79 Days+54.4%

Summary: Homes in Banks County had an average of 79 days on market in Feb 2024, up by 54.4% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 23 homes were sold in Banks County; 39% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 35% 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 28 Days Ago

Newest Listings in Banks County, GA

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