Is Shannon, 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, Shannon has remained a Seller's Market.
Key Takeaway
Shannon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shannon, GA
How much do homes in Shannon, GA cost?
Median Sold Price
$206,500
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Shannon have sold for 17.4% less than they did a year ago.
Summary: The median home sold price in Shannon was $206,500 in April 2024, down 17.4% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $77.5K | -13.9% |
| 2 Bedrooms | $130K | $170K | +30.8% |
| 3 Bedrooms | $250K | $240K | -4.0% |
| 4 Bedrooms | $305.5K | $385K | +26.0% |
| 5+ Bedrooms | $527.5K | $425K | -19.4% |
Summary: Shannon housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.9%, 2 bedroom homes increased by 30.8%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 26%, and 5+ bedroom homes decreased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Plainville | $153K | $220K | +43.8% |
| Armuchee | $278K | $282.5K | +1.6% |
| Shannon | $250K | $206.5K | -17.4% |
Housing Supply in Shannon, GA
How many homes are available in Shannon, GA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Summary: The Shannon real estate market had 22 homes for sale in April 2024, a 12.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 3 | -57.1% |
| 3 Bedrooms | 11 | 10 | -9.1% |
| 4 Bedrooms | 2 | 5 | +150.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Shannon 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 57.1%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 150%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 5 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Shannon, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Shannon in April 2024, down by 50.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 0% were sold at asking, and 20% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 3 Days | 22 Days | +545.7% |
Summary: Homes in Shannon had an average of 22 days on market in Apr 2024, up by 545.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was 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 April 2024, 5 homes were sold in Shannon; 80% of homes were sold within 30 days, 20% 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.