Is Locust Grove, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Locust Grove is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Locust Grove was a Seller's Market.

Key Takeaway

Locust Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Locust Grove, GA

How much do homes in Locust Grove, GA cost?

Median Sold Price

$350,315

$152/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$3,861(+1.1%)

Key Takeaway

Homes in Locust Grove have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in Locust Grove was $350,315 in May 2024, up 1.1% from last year, and the median price per square foot was $152.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $192K$185K
-3.6%
3 $279.5K$280K
0.2%
4 $365K$359K
-1.6%
5+ $479.6K$471.9K
-1.6%

Summary: Locust Grove 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 3.6%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 1.6%.

Housing Supply in Locust Grove, GA

How many homes are available in Locust Grove, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
263325+23.6%

Summary: The Locust Grove real estate market had 325 homes for sale in May 2024, a 23.6% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 11
0.0%
3 71102
+43.7%
4 109124
+13.8%
5+ 8298
+19.5%

Summary: The Locust Grove 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 remained the same, 3 bedroom homes increased by 43.7%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 19.5%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5355+3.8%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

27 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Locust Grove, expect to pay close to the asking price. 55.1% of homes here sold near the asking price last month.

Summary: A total of 55 homes were sold or pending in Locust Grove in May 2024, up by 3.8% month-over-month. Of the 49 sold homes, 33% were sold under asking, 55% were sold at asking, and 12% were sold over asking.

Days on Market for Locust Grove, GA

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

Average Sale Time

May 2023May 2024CHANGE
37 Days52 Days+37.7%

Summary: Homes in Locust Grove had an average of 52 days on market in May 2024, up by 37.7% compared to last year.

Breakdown of Home Sale Times

24 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 55 homes were sold in Locust Grove; 44% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 15% 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 12 Days Ago

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