Is Morrow, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Morrow was a Seller's Market.
Key Takeaway
Morrow 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 Morrow, GA
How much do homes in Morrow, GA cost?
Median Sold Price
$233,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Morrow have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Morrow was $233,000 in June 2024, up 1.7% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $155K | $161K | +3.9% |
| 3 Bedrooms | $220K | $225K | +2.3% |
| 4 Bedrooms | $255K | $270K | +5.9% |
| 5+ Bedrooms | $295.4K | $305K | +3.2% |
Summary: Morrow housing prices by bedroom type for June 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 increased by 2.3%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
| Lake City | $205K | $235K | +14.6% |
| Forest Park | $190K | $199.6K | +5.1% |
| Morrow | $229K | $233K | +1.7% |
| Forest Park-Morrow | $230.6K | $230K | -0.3% |
Housing Supply in Morrow, GA
How many homes are available in Morrow, GA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 94 | 117 | +24.5% |
Summary: The Morrow real estate market had 117 homes for sale in June 2024, a 24.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 16 | +33.3% |
| 3 Bedrooms | 42 | 60 | +42.9% |
| 4 Bedrooms | 32 | 35 | +9.4% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Morrow housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 23 | 17 | -26.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Morrow, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Morrow in June 2024, down by 26.1% month-over-month. Of the 15 sold homes, 67% were sold under asking, 20% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 56 Days | 11 Days | -79.1% |
Summary: Homes in Morrow had an average of 11 days on market in Jun 2024, down by 79.1% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Morrow are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 17 homes were sold in Morrow; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.