Is Gainesville, 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, Gainesville has remained a Seller's Market.
Key Takeaway
Gainesville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Gainesville, GA
How much do homes in Gainesville, GA cost?
Median Sold Price
$390,746
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Gainesville have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Gainesville was $390,746 in May 2024, up 2.8% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $235K | -16.1% |
| 2 Bedrooms | $250K | $264.9K | +6.0% |
| 3 Bedrooms | $330K | $344.6K | +4.4% |
| 4 Bedrooms | $430K | $477.4K | +11.0% |
| 5+ Bedrooms | $549.9K | $580K | +5.5% |
Summary: Gainesville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.1%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 5.5%.
Median Sold Price Compared To Nearby Cities
| Oakwood | $299.9K | $333.9K | +11.3% |
| Gainesville | $379.9K | $390.7K | +2.8% |
| Murrayville | $404K | $400K | -1.0% |
Housing Supply in Gainesville, GA
How many homes are available in Gainesville, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 708 | 755 | +6.6% |
Summary: The Gainesville real estate market had 755 homes for sale in May 2024, a 6.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 3 | -57.1% |
| 2 Bedrooms | 53 | 56 | +5.7% |
| 3 Bedrooms | 257 | 284 | +10.5% |
| 4 Bedrooms | 257 | 269 | +4.7% |
| 5+ Bedrooms | 134 | 143 | +6.7% |
Summary: The Gainesville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 57.1%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 6.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 171 | 137 | -19.9% |
Asking Price vs. Sold Price
77 Homes Were Sold
Under Asking
29 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Gainesville, you may be able to get a good deal. 58.3% of homes here sold below asking price last month.
Summary: A total of 137 homes were sold or pending in Gainesville in May 2024, down by 19.9% month-over-month. Of the 132 sold homes, 58% were sold under asking, 22% were sold at asking, and 20% were sold over asking.
Days on Market for Gainesville, GA
How long does it take to sell a home in Gainesville, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 31 Days | -26.8% |
Summary: Homes in Gainesville had an average of 31 days on market in May 2024, down by 26.8% compared to last year.
Breakdown of Home Sale Times
93 Homes Were Sold
Under 30 Days
31 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Gainesville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 137 homes were sold in Gainesville; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% 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.