Is McDonough, 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, McDonough has remained a Seller's Market.
Key Takeaway
McDonough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in McDonough, GA
How much do homes in McDonough, GA cost?
Median Sold Price
$364,305
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in McDonough have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in McDonough was $364,305 in May 2024, down 1.3% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $206.5K | N/A |
| 2 Bedrooms | $225K | $251.5K | +11.8% |
| 3 Bedrooms | $299K | $299.9K | 0.3% |
| 4 Bedrooms | $385K | $374.3K | -2.8% |
| 5+ Bedrooms | $476K | $485K | +1.9% |
Summary: McDonough 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 11.8%, 3 bedroom homes increased by 0.3%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 1.9%.
Housing Supply in McDonough, GA
How many homes are available in McDonough, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 779 | 907 | +16.4% |
Summary: The McDonough real estate market had 907 homes for sale in May 2024, a 16.4% 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 | 27 | 28 | +3.7% |
| 3 Bedrooms | 263 | 304 | +15.6% |
| 4 Bedrooms | 282 | 339 | +20.2% |
| 5+ Bedrooms | 206 | 235 | +14.1% |
Summary: The McDonough 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 increased by 3.7%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 14.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 132 | 153 | +15.9% |
Asking Price vs. Sold Price
58 Homes Were Sold
Under Asking
53 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McDonough, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 153 homes were sold or pending in McDonough in May 2024, up by 15.9% month-over-month. Of the 145 sold homes, 40% were sold under asking, 37% were sold at asking, and 23% were sold over asking.
Days on Market for McDonough, GA
How long does it take to sell a home in McDonough, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 45 Days | +14.6% |
Summary: Homes in McDonough had an average of 45 days on market in May 2024, up by 14.6% compared to last year.
Breakdown of Home Sale Times
85 Homes Were Sold
Under 30 Days
47 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McDonough are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 153 homes were sold in McDonough; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 14% 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.