Is Rich Mountain, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rich Mountain is a buyer's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Rich Mountain was a Seller's Market.

Key Takeaway

Rich Mountain is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Rich Mountain, GA

How much do homes in Rich Mountain, GA cost?

Median Sold Price

$489,000

$254/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$39,000(+8.7%)

Key Takeaway

Homes in Rich Mountain have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Rich Mountain was $489,000 in September 2024, up 8.7% from last year, and the median price per square foot was $254.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $272.9K-
N/A
2 $376.7K$410K
+8.8%
3 $456.2K$494.9K
+8.5%
4 $645K$546.5K
-15.3%
5+ $900K$1.0M
+12.8%

Summary: Rich Mountain housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 15.3%, and 5+ bedroom homes increased by 12.8%.

Median Sold Price Compared To Nearby Cities

South Gilmer
+8.9%
Rich Mountain
+8.7%
Ellijay
+8.3%
North Gilmer
+5.1%
Cherry Log
+2.9%

Housing Supply in Rich Mountain, GA

How many homes are available in Rich Mountain, GA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
128142+10.9%

Summary: The Rich Mountain real estate market had 142 homes for sale in September 2024, a 10.9% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 2528
+12.0%
3 6675
+13.6%
4 2527
+8.0%
5+ 1212
0.0%

Summary: The Rich Mountain housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 13.6%, 4 bedroom homes increased by 8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
812+50.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rich Mountain, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in Rich Mountain in September 2024, up by 50.0% month-over-month. Of the 11 sold homes, 73% were sold under asking, 27% 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

Sep 2023Sep 2024CHANGE
53 Days56 Days+6.6%

Summary: Homes in Rich Mountain had an average of 56 days on market in Sep 2024, up by 6.6% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 12 homes were sold in Rich Mountain; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% 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 30 Days Ago

Newest Listings in Rich Mountain, GA

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