Is Newnan, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Newnan has remained a Seller's Market.
Key Takeaway
Newnan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newnan, GA
How much do homes in Newnan, GA cost?
Median Sold Price
$379,878
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Newnan have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Newnan was $379,878 in April 2024, up 4.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $90K | -48.6% |
| 2 Bedrooms | $235K | $265.5K | +13.0% |
| 3 Bedrooms | $305.3K | $322.5K | +5.6% |
| 4 Bedrooms | $415K | $415.1K | 0.0% |
| 5+ Bedrooms | $495K | $582K | +17.6% |
Summary: Newnan housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.6%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 5.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 17.6%.
Housing Supply in Newnan, GA
How many homes are available in Newnan, GA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 516 | 542 | +5.0% |
Summary: The Newnan real estate market had 542 homes for sale in April 2024, a 5.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 28 | 22 | -21.4% |
| 3 Bedrooms | 192 | 207 | +7.8% |
| 4 Bedrooms | 200 | 203 | +1.5% |
| 5+ Bedrooms | 94 | 108 | +14.9% |
Summary: The Newnan housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 21.4%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 14.9%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 112 | 132 | +17.9% |
Asking Price vs. Sold Price
59 Homes Were Sold
Under Asking
38 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newnan, you may be able to get a good deal. 48.8% of homes here sold below asking price last month.
Summary: A total of 132 homes were sold or pending in Newnan in April 2024, up by 17.9% month-over-month. Of the 121 sold homes, 49% were sold under asking, 31% were sold at asking, and 20% were sold over asking.
Days on Market for Newnan, GA
How long does it take to sell a home in Newnan, GA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 29 Days | 42 Days | +45.8% |
Summary: Homes in Newnan had an average of 42 days on market in Apr 2024, up by 45.8% compared to last year.
Breakdown of Home Sale Times
82 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
18 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newnan are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 132 homes were sold in Newnan; 62% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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