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 February 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

$230,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$9,000(+4.1%)

Key Takeaway

Homes in Morrow have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Morrow was $230,000 in February 2024, up 4.1% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $155K$162K
+4.5%
3 $219.9K$225K
+2.3%
4 $250K$270K
+8.0%
5+ $362K$285K
-21.3%

Summary: Morrow 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 increased by 4.5%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 21.3%.

Median Sold Price Compared To Nearby Cities

Forest Park
+12.3%
Morrow
+4.1%
Forest Park-Morrow
+0.9%

Housing Supply in Morrow, GA

How many homes are available in Morrow, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
8589+4.7%

Summary: The Morrow real estate market had 89 homes for sale in February 2024, a 4.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1013
+30.0%
3 4035
-12.5%
4 3032
+6.7%
5+ 59
+80.0%

Summary: The Morrow 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 increased by 30%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 80%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1518+20.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

4 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. 46.2% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Morrow in February 2024, up by 20.0% month-over-month. Of the 13 sold homes, 46% were sold under asking, 23% were sold at asking, and 31% 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

Feb 2023Feb 2024CHANGE
32 Days49 Days+51.1%

Summary: Homes in Morrow had an average of 49 days on market in Feb 2024, up by 51.1% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were 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 February 2024, 18 homes were sold in Morrow; 50% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% 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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