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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lula is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Lula, GA

How much do homes in Lula, GA cost?

Median Sold Price

$315,000

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,000(-1.6%)

Key Takeaway

Homes in Lula have sold for 1.6% less than they did a year ago.

Summary: The median home sold price in Lula was $315,000 in May 2024, down 1.6% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $300K$312.5K
+4.2%
3 $290K$289.9K
0%
4 $365.9K$374.9K
+2.5%
5+ $441.7K$700K
+58.5%

Summary: Lula 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 increased by 4.2%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 58.5%.

Housing Supply in Lula, GA

How many homes are available in Lula, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
4045+12.5%

Summary: The Lula real estate market had 45 homes for sale in May 2024, a 12.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 2126
+23.8%
4 1011
+10.0%
5+ 88
0.0%

Summary: The Lula 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 100%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
812+50.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lula, you may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Lula in May 2024, up by 50.0% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.

Days on Market for Lula, GA

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

Average Sale Time

May 2023May 2024CHANGE
22 Days42 Days+90.1%

Summary: Homes in Lula had an average of 42 days on market in May 2024, up by 90.1% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 12 homes were sold in Lula; 50% of homes were sold within 30 days, 50% 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 13 Days Ago

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