Is Locust Grove, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Locust Grove was a Seller's Market.
Key Takeaway
Locust Grove is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Locust Grove, GA
How much do homes in Locust Grove, GA cost?
Median Sold Price
$350,315
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Locust Grove have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Locust Grove was $350,315 in May 2024, up 1.1% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $192K | $185K | -3.6% |
| 3 Bedrooms | $279.5K | $280K | 0.2% |
| 4 Bedrooms | $365K | $359K | -1.6% |
| 5+ Bedrooms | $479.6K | $471.9K | -1.6% |
Summary: Locust Grove 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 decreased by 3.6%, 3 bedroom homes increased by 0.2%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 1.6%.
Housing Supply in Locust Grove, GA
How many homes are available in Locust Grove, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 263 | 325 | +23.6% |
Summary: The Locust Grove real estate market had 325 homes for sale in May 2024, a 23.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 71 | 102 | +43.7% |
| 4 Bedrooms | 109 | 124 | +13.8% |
| 5+ Bedrooms | 82 | 98 | +19.5% |
Summary: The Locust Grove 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 remained the same, 3 bedroom homes increased by 43.7%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 19.5%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 53 | 55 | +3.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Locust Grove, expect to pay close to the asking price. 55.1% of homes here sold near the asking price last month.
Summary: A total of 55 homes were sold or pending in Locust Grove in May 2024, up by 3.8% month-over-month. Of the 49 sold homes, 33% were sold under asking, 55% were sold at asking, and 12% were sold over asking.
Days on Market for Locust Grove, GA
How long does it take to sell a home in Locust Grove, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 52 Days | +37.7% |
Summary: Homes in Locust Grove had an average of 52 days on market in May 2024, up by 37.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Locust Grove are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 55 homes were sold in Locust Grove; 44% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 15% 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.