Is Morrow, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Morrow has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $155K | $162K | +4.5% |
3 Bedrooms | $219.9K | $225K | +2.3% |
4 Bedrooms | $250K | $270K | +8.0% |
5+ Bedrooms | $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 | $182.5K | $205K | +12.3% |
Morrow | $221K | $230K | +4.1% |
Forest Park-Morrow | $230.2K | $232.1K | +0.9% |
Housing Supply in Morrow, GA
How many homes are available in Morrow, GA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
85 | 89 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 13 | +30.0% |
3 Bedrooms | 40 | 35 | -12.5% |
4 Bedrooms | 30 | 32 | +6.7% |
5+ Bedrooms | 5 | 9 | +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 2024 | Feb 2024 | CHANGE |
---|---|---|
15 | 18 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
32 Days | 49 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
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.