Is Rich Mountain, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Rich Mountain was a Seller's Market.
Housing Prices in Rich Mountain, GA
How much do homes in Rich Mountain, GA cost?
Median Sold Price
$482,450
$259/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Rich Mountain was $482,450 in March 2024, up 0.7% from last year, and the median price per square foot was $259.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $650K | $288.3K | -55.6% |
2 Bedrooms | $384.2K | $388.7K | +1.2% |
3 Bedrooms | $498.3K | $475K | -4.7% |
4 Bedrooms | $610K | $645K | +5.7% |
5+ Bedrooms | $699.9K | $900K | +28.6% |
Summary: Rich Mountain housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 55.6%, 2 bedroom homes increased by 1.2%, 3 bedroom homes decreased by 4.7%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 28.6%.
Median Sold Price Compared To Nearby Cities
Rich Mountain | $479K | $482.4K | +0.7% |
South Gilmer | $495K | $483.7K | -2.3% |
North Gilmer | $450K | $439.8K | -2.3% |
Ellijay | $464.5K | $435.5K | -6.2% |
Cherry Log | $515K | $479.9K | -6.8% |
Housing Supply in Rich Mountain, GA
How many homes are available in Rich Mountain, GA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
99 | 147 | +48.5% |
Summary: The Rich Mountain real estate market had 147 homes for sale in March 2024, a 48.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 2 | +100.0% |
2 Bedrooms | 25 | 40 | +60.0% |
3 Bedrooms | 52 | 77 | +48.1% |
4 Bedrooms | 18 | 23 | +27.8% |
5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Rich Mountain housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 48.1%, 4 bedroom homes increased by 27.8%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
5 | 7 | +40.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Rich Mountain in March 2024, up by 40.0% month-over-month. Of the 7 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Rich Mountain, GA
How long does it take to sell a home in Rich Mountain, GA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 41 Days | +12.5% |
Summary: Homes in Rich Mountain had an average of 41 days on market in Mar 2024, up by 12.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During March 2024, 7 homes were sold in Rich Mountain; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.