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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bishop is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Bishop has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Bishop, GA

How much do homes in Bishop, GA cost?

Median Sold Price

$615,000

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,000(+1.7%)

Key Takeaway

Homes in Bishop have sold for 1.7% more than they did a year ago.

Summary: The median home sold price in Bishop was $615,000 in May 2024, up 1.7% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $332.5K$249.9K
-24.8%
3 $356.2K$468K
+31.4%
4 $599K$643K
+7.3%
5+ $717.6K$717K
-0.1%

Summary: Bishop 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 decreased by 24.8%, 3 bedroom homes increased by 31.4%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes decreased by 0.1%.

Housing Supply in Bishop, GA

How many homes are available in Bishop, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4052+30.0%

Summary: The Bishop real estate market had 52 homes for sale in May 2024, a 30.0% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 13
+200.0%
3 1413
-7.1%
4 1525
+66.7%
5+ 1011
+10.0%

Summary: The Bishop housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 200%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Apr 2024May 2024CHANGE
615+150.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bishop, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in Bishop in May 2024, up by 150.0% month-over-month. Of the 15 sold homes, 67% were sold under asking, 13% were sold at asking, and 20% were sold over asking.

Days on Market for Bishop, GA

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

Average Sale Time

May 2023May 2024CHANGE
32 Days34 Days+8.5%

Summary: Homes in Bishop had an average of 34 days on market in May 2024, up by 8.5% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 15 homes were sold in Bishop; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% 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 17 Days Ago

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