Is Ormewood Park, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Ormewood Park has remained a Seller's Market.
Key Takeaway
Ormewood Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ormewood Park, GA
How much do homes in Ormewood Park, GA cost?
Median Sold Price
$620,000
$364/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Ormewood Park have sold for 18.1% more than they did a year ago.
Summary: The median home sold price in Ormewood Park was $620,000 in April 2024, up 18.1% from last year, and the median price per square foot was $364.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $274.5K | $308K | +12.2% |
| 2 Bedrooms | $416K | $425K | +2.2% |
| 3 Bedrooms | $675.4K | $625K | -7.5% |
| 4 Bedrooms | $1.0M | $820K | -19.6% |
| 5+ Bedrooms | $1.2M | $1.1M | -5.2% |
Summary: Ormewood Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 2.2%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes decreased by 19.6%, and 5+ bedroom homes decreased by 5.2%.
Housing Supply in Ormewood Park, GA
How many homes are available in Ormewood Park, GA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 44 | +2.3% |
Summary: The Ormewood Park real estate market had 44 homes for sale in April 2024, a 2.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 2 | -50.0% |
| 2 Bedrooms | 8 | 6 | -25.0% |
| 3 Bedrooms | 14 | 17 | +21.4% |
| 4 Bedrooms | 13 | 15 | +15.4% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Ormewood Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 21.4%, 4 bedroom homes increased by 15.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ormewood Park, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Ormewood Park in April 2024, down by 20.0% month-over-month. Of the 12 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Ormewood Park, GA
How long does it take to sell a home in Ormewood Park, GA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 17 Days | 18 Days | +4.9% |
Summary: Homes in Ormewood Park had an average of 18 days on market in Apr 2024, up by 4.9% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Ormewood Park are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 12 homes were sold in Ormewood Park; 83% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% 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.