Is Shannon, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Shannon was a Seller's Market.
Key Takeaway
Shannon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Shannon, GA
How much do homes in Shannon, GA cost?
Median Sold Price
$204,500
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Shannon have sold for 11.9% less than they did a year ago.
Summary: The median home sold price in Shannon was $204,500 in June 2024, down 11.9% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | - | N/A |
| 2 Bedrooms | $130K | $172.5K | +32.7% |
| 3 Bedrooms | $245K | $239K | -2.4% |
| 4 Bedrooms | $330.4K | $325K | -1.6% |
| 5+ Bedrooms | $695K | $425K | -38.8% |
Summary: Shannon housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 32.7%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 38.8%.
Median Sold Price Compared To Nearby Cities
| Armuchee | $269.9K | $294K | +8.9% |
| Shannon | $232K | $204.5K | -11.9% |
Housing Supply in Shannon, GA
How many homes are available in Shannon, GA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Summary: The Shannon real estate market had 22 homes for sale in June 2024, a 22.2% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 8 | 12 | +50.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Shannon housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 7 | 3 | -57.1% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shannon, expect to pay close to the asking price. 100% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Shannon in June 2024, down by 57.1% month-over-month. Of the 3 sold homes, 0% were sold under asking, 100% were sold at asking, and 0% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 2 Days | 11 Days | +418.5% |
Summary: Homes in Shannon had an average of 11 days on market in Jun 2024, up by 418.5% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shannon are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 3 homes were sold in Shannon; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.