Is Banks County, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Banks County was a Buyer's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $324.7K | $117.7K | -63.7% |
2 Bedrooms | $175K | $169.1K | -3.4% |
3 Bedrooms | $306K | $309.5K | +1.1% |
4 Bedrooms | $369K | $374.9K | +1.6% |
5+ Bedrooms | $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 | $310K | $340K | +9.7% |
Franklin County | $250K | $264.7K | +5.9% |
Jackson County | $409.9K | $424.9K | +3.7% |
Hall County | $374.7K | $384.9K | +2.7% |
Stephens County | $221.4K | $224K | +1.2% |
Housing Supply in Banks County, GA
How many homes are available in Banks County, GA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
98 | 113 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 13 | 17 | +30.8% |
3 Bedrooms | 37 | 43 | +16.2% |
4 Bedrooms | 35 | 40 | +14.3% |
5+ Bedrooms | 13 | 13 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 23 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
51 Days | 79 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
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.