$30,000
1.49 Acres
Land
Terry Ledford, Listing Office: ReMax Town & Ctry-Downtown
Is Cherry Log, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Cherry Log was a Seller's Market.
Key Takeaway
Cherry Log is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Cherry Log, GA
How much do homes in Cherry Log, GA cost?
Median Sold Price
$542,500
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$62,500(+13.0%)
Key Takeaway
Homes in Cherry Log have sold for 13% more than they did a year ago.
Summary: The median home sold price in Cherry Log was $542,500 in November 2024, up 13% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | - | N/A |
| 2 Bedrooms | $407.5K | $450K | +10.4% |
| 3 Bedrooms | $550K | $600K | +9.1% |
| 4 Bedrooms | $865K | $975K | +12.7% |
| 5+ Bedrooms | $900K | - | N/A |
Summary: Cherry Log housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Cherry Log | $480K | $542.5K | +13.0% |
| North Gilmer | $452.5K | $496K | +9.6% |
| Rich Mountain | $485K | $480.8K | -0.9% |
| Higdon-Mobile | $609.5K | $575.7K | -5.5% |
Housing Supply in Cherry Log, GA
How many homes are available in Cherry Log, GA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 88 | 89 | +1.1% |
Summary: The Cherry Log real estate market had 89 homes for sale in November 2024, a 1.1% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 62 | 59 | -4.8% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Cherry Log housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 80%, 3 bedroom homes decreased by 4.8%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 6 | 3 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cherry Log, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Cherry Log in November 2024, down by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Cherry Log, GA
How long does it take to sell a home in Cherry Log, GA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 81 Days | +84.2% |
Summary: Homes in Cherry Log had an average of 81 days on market in Nov 2024, up by 84.2% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Cherry Log are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 3 homes were sold in Cherry Log; 33% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.
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