Is Shannon, 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, Shannon has remained a Seller's Market.
Housing Prices in Shannon, GA
How much do homes in Shannon, GA cost?
Median Sold Price
$202,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Shannon was $202,000 in March 2024, down 19% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $90K | $77.5K | -13.9% |
2 Bedrooms | $147.5K | $170K | +15.3% |
3 Bedrooms | $249K | $261.2K | +4.9% |
4 Bedrooms | $303K | $385K | +27.1% |
5+ Bedrooms | $399K | $425K | +6.5% |
Summary: Shannon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.9%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 27.1%, and 5+ bedroom homes increased by 6.5%.
Median Sold Price Compared To Nearby Cities
Armuchee | $283K | $279K | -1.4% |
Shannon | $249.5K | $202K | -19.0% |
Housing Supply in Shannon, GA
How many homes are available in Shannon, GA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 24 | -14.3% |
Summary: The Shannon real estate market had 24 homes for sale in March 2024, a 14.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 10 | 7 | -30.0% |
3 Bedrooms | 9 | 11 | +22.2% |
4 Bedrooms | 2 | 1 | -50.0% |
5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Shannon housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 30%, 3 bedroom homes increased by 22.2%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9 | 9 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Shannon in March 2024, the same as the previous month. Of the 8 sold homes, 88% were sold under asking, 0% were sold at asking, and 13% were sold over asking.
Days on Market for Shannon, GA
How long does it take to sell a home in Shannon, GA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
49 Days | 17 Days | -65.0% |
Summary: Homes in Shannon had an average of 17 days on market in Mar 2024, down by 65% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 9 homes were sold in Shannon; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.