Is Palmetto, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
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
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
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203.5K | $1.0M | +391.4% |
| 2 Bedrooms | $100K | $645K | +545.0% |
| 3 Bedrooms | $230K | $288K | +25.2% |
| 4 Bedrooms | $342.4K | $401K | +17.1% |
| 5+ Bedrooms | $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 | $595.4K | $784.4K | +31.7% |
| Palmetto | $285.5K | $346K | +21.2% |
| Fairburn | $320K | $344.2K | +7.6% |
| Fairburn-Union City | $284.7K | $284.9K | 0.0% |
Housing Supply in Palmetto, GA
How many homes are available in Palmetto, GA?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 80 | 94 | +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
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 20 | 20 | 0.0% |
| 3 Bedrooms | 34 | 40 | +17.6% |
| 4 Bedrooms | 18 | 24 | +33.3% |
| 5+ Bedrooms | 5 | 8 | +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 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 7 | 17 | +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
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 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 71 Days | 42 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
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.
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.