Is Powder Springs, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Powder Springs is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Powder Springs has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Powder Springs, GA

How much do homes in Powder Springs, GA cost?

Median Sold Price

$369,575

$175/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$10,125(+2.8%)

Key Takeaway

Homes in Powder Springs have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Powder Springs was $369,575 in February 2024, up 2.8% from last year, and the median price per square foot was $175.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$145K
N/A
2 $275K$321.2K
+16.8%
3 $310K$325K
+4.8%
4 $379.5K$394.9K
+4.1%
5+ $535.4K$562.5K
+5.1%

Summary: Powder Springs housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 5.1%.

Housing Supply in Powder Springs, GA

How many homes are available in Powder Springs, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
272301+10.7%

Summary: The Powder Springs real estate market had 301 homes for sale in February 2024, a 10.7% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1921
+10.5%
3 7089
+27.1%
4 106121
+14.2%
5+ 7770
-9.1%

Summary: The Powder Springs housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 27.1%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes decreased by 9.1%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
6170+14.8%

Asking Price vs. Sold Price

34 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

12 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Powder Springs, you may be able to get a good deal. 53.1% of homes here sold below asking price last month.

Summary: A total of 70 homes were sold or pending in Powder Springs in February 2024, up by 14.8% month-over-month. Of the 64 sold homes, 53% were sold under asking, 28% were sold at asking, and 19% were sold over asking.

Days on Market for Powder Springs, GA

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

Average Sale Time

Feb 2023Feb 2024CHANGE
66 Days33 Days-49.6%

Summary: Homes in Powder Springs had an average of 33 days on market in Feb 2024, down by 49.6% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Powder Springs are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 70 homes were sold in Powder Springs; 59% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 9% 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 28 Days Ago

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