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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Commerce is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Commerce, GA

How much do homes in Commerce, GA cost?

Median Sold Price

$320,000

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$30,000(+10.3%)

Key Takeaway

Homes in Commerce have sold for 10.3% more than they did a year ago.

Summary: The median home sold price in Commerce was $320,000 in March 2024, up 10.3% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 -$175K
N/A
2 $185.9K$176.6K
-5.0%
3 $280K$305K
+8.9%
4 $346.4K$383.5K
+10.7%
5+ $359.9K$409.9K
+13.9%

Summary: Commerce 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 decreased by 5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 13.9%.

Median Sold Price Compared To Nearby Cities

Maysville
+26.7%
Commerce
+10.3%

Housing Supply in Commerce, GA

How many homes are available in Commerce, GA?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
158154-2.5%

Summary: The Commerce real estate market had 154 homes for sale in March 2024, a 2.5% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 2124
+14.3%
3 5557
+3.6%
4 6255
-11.3%
5+ 1816
-11.1%

Summary: The Commerce 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 increased by 14.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 11.3%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
3432-5.9%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Commerce, you may be able to get a good deal. 48.3% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in Commerce in March 2024, down by 5.9% month-over-month. Of the 29 sold homes, 48% were sold under asking, 34% were sold at asking, and 17% were sold over asking.

Days on Market for Commerce, GA

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

Average Sale Time

Mar 2023Mar 2024CHANGE
71 Days35 Days-49.5%

Summary: Homes in Commerce had an average of 35 days on market in Mar 2024, down by 49.5% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 32 homes were sold in Commerce; 59% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 16% 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 24 Days Ago

Newest Listings in Commerce, GA

Nearby Markets to Commerce, GA

What housing markets are near Commerce, GA?