Is Banks County, 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, Banks County has remained a Seller's Market.
Key Takeaway
Banks County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Banks County, GA
How much do homes in Banks County, GA cost?
Median Sold Price
$340,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Banks County have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Banks County was $340,000 in May 2024, up 9.7% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $125.2K | -28.4% |
| 2 Bedrooms | $175K | $235K | +34.3% |
| 3 Bedrooms | $295K | $312K | +5.8% |
| 4 Bedrooms | $369K | $383.5K | +3.9% |
| 5+ Bedrooms | $530K | $447.7K | -15.5% |
Summary: Banks County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 28.4%, 2 bedroom homes increased by 34.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 15.5%.
Median Sold Price Compared To Nearby Counties
| Stephens County | $205.2K | $248.4K | +21.1% |
| Banks County | $310K | $340K | +9.7% |
| Franklin County | $250K | $263.7K | +5.5% |
| Jackson County | $410.1K | $427.8K | +4.3% |
| Hall County | $374.7K | $388.5K | +3.7% |
Housing Supply in Banks County, GA
How many homes are available in Banks County, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 107 | 113 | +5.6% |
Summary: The Banks County real estate market had 113 homes for sale in May 2024, a 5.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 14 | 11 | -21.4% |
| 3 Bedrooms | 34 | 32 | -5.9% |
| 4 Bedrooms | 49 | 52 | +6.1% |
| 5+ Bedrooms | 9 | 17 | +88.9% |
Summary: The Banks County 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 21.4%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 88.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 20 | -33.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Banks County, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Banks County in May 2024, down by 33.3% month-over-month. Of the 19 sold homes, 47% were sold under asking, 42% were sold at asking, and 11% were sold over asking.
Days on Market for Banks County, GA
How long does it take to sell a home in Banks County, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 66 Days | 43 Days | -34.9% |
Summary: Homes in Banks County had an average of 43 days on market in May 2024, down by 34.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Banks County has remained consistent over time.
Summary: During May 2024, 20 homes were sold in Banks County; 35% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 5% 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. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of Classic MLS. Information deemed reliable but not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed.