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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Morrow is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Morrow, GA

How much do homes in Morrow, GA cost?

Median Sold Price

$232,333

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$2,833(+1.2%)

Key Takeaway

Homes in Morrow have sold for 1.2% more than they did a year ago.

Summary: The median home sold price in Morrow was $232,333 in May 2024, up 1.2% 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 $155K$161K
+3.9%
3 $224.9K$224.5K
-0.2%
4 $252.5K$271K
+7.3%
5+ $295.4K$305K
+3.2%

Summary: Morrow 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 3.9%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Cities

Lake City
+13.5%
Forest Park
+4.7%
Morrow
+1.2%
Forest Park-Morrow
-1.1%

Housing Supply in Morrow, GA

How many homes are available in Morrow, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
98105+7.1%

Summary: The Morrow real estate market had 105 homes for sale in May 2024, a 7.1% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 1415
+7.1%
3 3844
+15.8%
4 3337
+12.1%
5+ 139
-30.8%

Summary: The Morrow 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 increased by 7.1%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 30.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2418-25.0%

Asking Price vs. Sold Price

11 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 Morrow, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Morrow in May 2024, down by 25.0% month-over-month. Of the 16 sold homes, 69% were sold under asking, 19% were sold at asking, and 13% were sold over asking.

Days on Market for Morrow, GA

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

Average Sale Time

May 2023May 2024CHANGE
36 Days26 Days-27.4%

Summary: Homes in Morrow had an average of 26 days on market in May 2024, down by 27.4% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 18 homes were sold in Morrow; 83% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 6% 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 20 Days Ago

Newest Listings in Morrow, GA

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