Is Rome, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Rome has remained a Seller's Market.
Key Takeaway
Rome is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rome, GA
How much do homes in Rome, GA cost?
Median Sold Price
$242,123
$148/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Rome have sold for 22% more than they did a year ago.
Summary: The median home sold price in Rome was $242,123 in March 2024, up 22% from last year, and the median price per square foot was $148.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $182.5K | $77.2K | -57.7% |
| 2 Bedrooms | $126.5K | $155K | +22.5% |
| 3 Bedrooms | $194.3K | $233.7K | +20.3% |
| 4 Bedrooms | $331.4K | $335K | +1.1% |
| 5+ Bedrooms | $402.5K | $485K | +20.5% |
Summary: Rome housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 57.7%, 2 bedroom homes increased by 22.5%, 3 bedroom homes increased by 20.3%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes increased by 20.5%.
Median Sold Price Compared To Nearby Cities
| Rome | $198.5K | $242.1K | +22.0% |
| Lindale | $171K | $192K | +12.3% |
| Armuchee | $283K | $279K | -1.4% |
Housing Supply in Rome, GA
How many homes are available in Rome, GA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 393 | 404 | +2.8% |
Summary: The Rome real estate market had 404 homes for sale in March 2024, a 2.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 73 | 65 | -11.0% |
| 3 Bedrooms | 200 | 215 | +7.5% |
| 4 Bedrooms | 81 | 83 | +2.5% |
| 5+ Bedrooms | 37 | 40 | +8.1% |
Summary: The Rome housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 11%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 8.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 87 | 115 | +32.2% |
Asking Price vs. Sold Price
53 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
27 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rome, you may be able to get a good deal. 50.5% of homes here sold below asking price last month.
Summary: A total of 115 homes were sold or pending in Rome in March 2024, up by 32.2% month-over-month. Of the 105 sold homes, 50% were sold under asking, 24% were sold at asking, and 26% were sold over asking.
Days on Market for Rome, GA
How long does it take to sell a home in Rome, GA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 37 Days | -4.9% |
Summary: Homes in Rome had an average of 37 days on market in Mar 2024, down by 4.9% compared to last year.
Breakdown of Home Sale Times
68 Homes Were Sold
Under 30 Days
33 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rome are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 115 homes were sold in Rome; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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