Is Newnan, 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, Newnan has remained a Seller's Market.
Housing Prices in Newnan, GA
How much do homes in Newnan, GA cost?
Median Sold Price
$376,660
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Newnan was $376,660 in February 2024, up 3.9% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $76K | $132.5K | +74.4% |
2 Bedrooms | $253K | $266K | +5.1% |
3 Bedrooms | $310.2K | $313.2K | +0.9% |
4 Bedrooms | $400K | $415K | +3.8% |
5+ Bedrooms | $475K | $581K | +22.3% |
Summary: Newnan housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 74.4%, 2 bedroom homes increased by 5.1%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 22.3%.
Housing Supply in Newnan, GA
How many homes are available in Newnan, GA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
417 | 462 | +10.8% |
Summary: The Newnan real estate market had 462 homes for sale in February 2024, a 10.8% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 26 | 28 | +7.7% |
3 Bedrooms | 152 | 168 | +10.5% |
4 Bedrooms | 167 | 185 | +10.8% |
5+ Bedrooms | 71 | 79 | +11.3% |
Summary: The Newnan housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 11.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
80 | 108 | +35.0% |
Asking Price vs. Sold Price
52 Homes Were Sold
Under Asking
32 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Summary: A total of 108 homes were sold or pending in Newnan in February 2024, up by 35.0% month-over-month. Of the 98 sold homes, 53% were sold under asking, 33% were sold at asking, and 14% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
26 Days | 38 Days | +41.7% |
Summary: Homes in Newnan had an average of 38 days on market in Feb 2024, up by 41.7% compared to last year.
Breakdown of Home Sale Times
55 Homes Were Sold
Under 30 Days
42 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During February 2024, 108 homes were sold in Newnan; 51% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.