Is Rome, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rome is a seller's market

Buyer's
Market

Difference Since May 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

$245,620

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$29,808(+13.8%)

Key Takeaway

Homes in Rome have sold for 13.8% more than they did a year ago.

Summary: The median home sold price in Rome was $245,620 in May 2024, up 13.8% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $155K$116.3K
-25.0%
2 $138.9K$159.9K
+15.2%
3 $200.3K$237.7K
+18.7%
4 $314.3K$338.7K
+7.7%
5+ $500K$520K
+4.0%

Summary: Rome housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 15.2%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 4%.

Median Sold Price Compared To Nearby Cities

Lindale
+22.4%
Rome
+13.8%
Armuchee
+5.9%

Housing Supply in Rome, GA

How many homes are available in Rome, GA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
415451+8.7%

Summary: The Rome real estate market had 451 homes for sale in May 2024, a 8.7% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 04
+100.0%
2 7073
+4.3%
3 205220
+7.3%
4 102109
+6.9%
5+ 3845
+18.4%

Summary: The Rome housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 18.4%.

Number of Homes Sold

Apr 2024May 2024CHANGE
91910.0%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Rome, you may be able to get a good deal. 48.8% of homes here sold below asking price last month.

Summary: A total of 91 homes were sold or pending in Rome in May 2024, the same as the previous month. Of the 86 sold homes, 49% were sold under asking, 26% 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

May 2023May 2024CHANGE
36 Days31 Days-12.0%

Summary: Homes in Rome had an average of 31 days on market in May 2024, down by 12% compared to last year.

Breakdown of Home Sale Times

57 Homes Were Sold
Under 30 Days

25 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 91 homes were sold in Rome; 63% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 10% 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 23 Days Ago

Newest Listings in Rome, GA

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