Is Newnan, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Newnan has remained a Seller's Market.
Key Takeaway
Newnan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newnan, GA
How much do homes in Newnan, GA cost?
Median Sold Price
$379,913
$175/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Newnan have sold for 5.1% more than they did a year ago.
Summary: The median home sold price in Newnan was $379,913 in March 2024, up 5.1% from last year, and the median price per square foot was $175.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $76K | $132.5K | +74.4% |
| 2 Bedrooms | $256.5K | $265.5K | +3.5% |
| 3 Bedrooms | $310K | $318.5K | +2.7% |
| 4 Bedrooms | $410K | $415.7K | +1.4% |
| 5+ Bedrooms | $480K | $590K | +22.9% |
Summary: Newnan housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 74.4%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 22.9%.
Housing Supply in Newnan, GA
How many homes are available in Newnan, GA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 453 | 520 | +14.8% |
Summary: The Newnan real estate market had 520 homes for sale in March 2024, a 14.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 24 | 28 | +16.7% |
| 3 Bedrooms | 163 | 193 | +18.4% |
| 4 Bedrooms | 184 | 200 | +8.7% |
| 5+ Bedrooms | 80 | 97 | +21.3% |
Summary: The Newnan housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 18.4%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 21.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 112 | 111 | -0.9% |
Asking Price vs. Sold Price
50 Homes Were Sold
Under Asking
37 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newnan, you may be able to get a good deal. 48.1% of homes here sold below asking price last month.
Summary: A total of 111 homes were sold or pending in Newnan in March 2024, down by 0.9% month-over-month. Of the 104 sold homes, 48% were sold under asking, 36% were sold at asking, and 16% were sold over asking.
Days on Market for Newnan, GA
How long does it take to sell a home in Newnan, GA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 44 Days | +3.8% |
Summary: Homes in Newnan had an average of 44 days on market in Mar 2024, up by 3.8% compared to last year.
Breakdown of Home Sale Times
69 Homes Were Sold
Under 30 Days
28 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newnan are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 111 homes were sold in Newnan; 62% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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