Is Palmetto, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Palmetto is a seller's market

Buyer's
Market

Difference Since November 2022

At the same time last year, Palmetto was a Neutral Market.

Key Takeaway

Palmetto is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Palmetto, GA

How much do homes in Palmetto, GA cost?

Median Sold Price

$346,076

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$60,576(+21.2%)

Key Takeaway

Homes in Palmetto have sold for 21.2% more than they did a year ago.

Summary: The median home sold price in Palmetto was $346,076 in November 2023, up 21.2% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $203.5K$1.0M
+391.4%
2 $100K$645K
+545.0%
3 $230K$288K
+25.2%
4 $342.4K$401K
+17.1%
5+ $374.7K$755K
+101.5%

Summary: Palmetto housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 391.4%, 2 bedroom homes increased by 545%, 3 bedroom homes increased by 25.2%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 101.5%.

Median Sold Price Compared To Nearby Cities

Chattahoochee Hills
+31.7%
Palmetto
+21.2%
Fairburn
+7.6%
Fairburn-Union City
0.0%

Housing Supply in Palmetto, GA

How many homes are available in Palmetto, GA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
8094+17.5%

Summary: The Palmetto real estate market had 94 homes for sale in November 2023, a 17.5% increase compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 32
-33.3%
2 2020
0.0%
3 3440
+17.6%
4 1824
+33.3%
5+ 58
+60.0%

Summary: The Palmetto housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 60%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
717+142.9%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Palmetto, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 17 homes were sold or pending in Palmetto in November 2023, up by 142.9% month-over-month. Of the 15 sold homes, 80% were sold under asking, 13% were sold at asking, and 7% were sold over asking.

Days on Market for Palmetto, GA

How long does it take to sell a home in Palmetto, GA?

Average Sale Time

Nov 2022Nov 2023CHANGE
71 Days42 Days-39.9%

Summary: Homes in Palmetto had an average of 42 days on market in Nov 2023, down by 39.9% compared to last year.

Breakdown of Home Sale Times

8 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 Palmetto are selling fast, if you're buying plan to act quickly.

Summary: During November 2023, 17 homes were sold in Palmetto; 47% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 24% 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 8 Days Ago

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