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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Gainesville is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Gainesville, GA

How much do homes in Gainesville, GA cost?

Median Sold Price

$390,746

$197/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$10,751(+2.8%)

Key Takeaway

Homes in Gainesville have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Gainesville was $390,746 in May 2024, up 2.8% from last year, and the median price per square foot was $197.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $280K$235K
-16.1%
2 $250K$264.9K
+6.0%
3 $330K$344.6K
+4.4%
4 $430K$477.4K
+11.0%
5+ $549.9K$580K
+5.5%

Summary: Gainesville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.1%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 5.5%.

Median Sold Price Compared To Nearby Cities

Oakwood
+11.3%
Gainesville
+2.8%
Murrayville
-1.0%

Housing Supply in Gainesville, GA

How many homes are available in Gainesville, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
708755+6.6%

Summary: The Gainesville real estate market had 755 homes for sale in May 2024, a 6.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 73
-57.1%
2 5356
+5.7%
3 257284
+10.5%
4 257269
+4.7%
5+ 134143
+6.7%

Summary: The Gainesville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 57.1%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 6.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
171137-19.9%

Asking Price vs. Sold Price

77 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Gainesville, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.

Summary: A total of 137 homes were sold or pending in Gainesville in May 2024, down by 19.9% month-over-month. Of the 132 sold homes, 58% were sold under asking, 22% were sold at asking, and 20% were sold over asking.

Days on Market for Gainesville, GA

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

Average Sale Time

May 2023May 2024CHANGE
43 Days31 Days-26.8%

Summary: Homes in Gainesville had an average of 31 days on market in May 2024, down by 26.8% compared to last year.

Breakdown of Home Sale Times

93 Homes Were Sold
Under 30 Days

31 Homes Were Sold
In 30 - 90 Days

13 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 137 homes were sold in Gainesville; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% 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 13 Days Ago

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