Is Demorest, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Demorest has remained a Seller's Market.
Key Takeaway
Demorest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Demorest, GA
How much do homes in Demorest, GA cost?
Median Sold Price
$321,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Demorest have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Demorest was $321,000 in May 2024, up 8.9% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $207K | N/A |
| 2 Bedrooms | $176.5K | $249K | +41.1% |
| 3 Bedrooms | $259.9K | $310K | +19.3% |
| 4 Bedrooms | $362.5K | $427.2K | +17.9% |
| 5+ Bedrooms | $502K | $435K | -13.3% |
Summary: Demorest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 41.1%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes decreased by 13.3%.
Housing Supply in Demorest, GA
How many homes are available in Demorest, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 48 | +11.6% |
Summary: The Demorest real estate market had 48 homes for sale in May 2024, a 11.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 13 | 20 | +53.8% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Demorest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 5%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 14 | +100.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Demorest, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 14 homes were sold or pending in Demorest in May 2024, up by 100.0% month-over-month. Of the 14 sold homes, 36% were sold under asking, 50% were sold at asking, and 14% were sold over asking.
Days on Market for Demorest, GA
How long does it take to sell a home in Demorest, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 11 Days | 21 Days | +93.5% |
Summary: Homes in Demorest had an average of 21 days on market in May 2024, up by 93.5% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Demorest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Demorest; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% 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.