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 February 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

$308,000

$145/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$7,000(-2.2%)

Key Takeaway

Homes in Lovejoy have sold for 2.2% less than they did a year ago.

Summary: The median home sold price in Lovejoy was $308,000 in February 2024, down 2.2% from last year, and the median price per square foot was $145.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $215.5K$190K
-11.8%
3 $237K$257.5K
+8.6%
4 $324K$320.2K
-1.2%
5+ $346.5K$354K
+2.2%

Summary: Lovejoy housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 2.2%.

Housing Supply in Lovejoy, GA

How many homes are available in Lovejoy, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
5567+21.8%

Summary: The Lovejoy real estate market had 67 homes for sale in February 2024, a 21.8% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 2631
+19.2%
4 2128
+33.3%
5+ 45
+25.0%

Summary: The Lovejoy housing inventory by bedroom type for February 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 19.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
79+28.6%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lovejoy, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Lovejoy in February 2024, up by 28.6% month-over-month. Of the 8 sold homes, 38% were sold under asking, 38% were sold at asking, and 25% 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

Feb 2023Feb 2024CHANGE
79 Days145 Days+83.0%

Summary: Homes in Lovejoy had an average of 145 days on market in Feb 2024, up by 83% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Lovejoy are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 9 homes were sold in Lovejoy; 22% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 44% 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 18 Days Ago

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