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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lovejoy is a buyer's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

Lovejoy is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Lovejoy, GA

How much do homes in Lovejoy, GA cost?

Median Sold Price

$300,800

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$23,687(-7.3%)

Key Takeaway

Homes in Lovejoy have sold for 7.3% less than they did a year ago.

Summary: The median home sold price in Lovejoy was $300,800 in May 2024, down 7.3% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $204.5K$195K
-4.6%
3 $236K$260K
+10.2%
4 $329.9K$319.9K
-3.0%
5+ $350K$354.4K
+1.3%

Summary: Lovejoy 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 4.6%, 3 bedroom homes increased by 10.2%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 1.3%.

Housing Supply in Lovejoy, GA

How many homes are available in Lovejoy, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
109125+14.7%

Summary: The Lovejoy real estate market had 125 homes for sale in May 2024, a 14.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 4655
+19.6%
4 4752
+10.6%
5+ 1215
+25.0%

Summary: The Lovejoy 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 decreased by 25%, 3 bedroom homes increased by 19.6%, 4 bedroom homes increased by 10.6%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2011-45.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lovejoy, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.

Summary: A total of 11 homes were sold or pending in Lovejoy in May 2024, down by 45.0% month-over-month. Of the 10 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.

Days on Market for Lovejoy, GA

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

Average Sale Time

May 2023May 2024CHANGE
40 Days25 Days-38.0%

Summary: Homes in Lovejoy had an average of 25 days on market in May 2024, down by 38% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 11 homes were sold in Lovejoy; 64% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 0% 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 16 Days Ago

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