Is Lookout Mountain, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lookout Mountain is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Lookout Mountain has remained a Seller's Market.

Key Takeaway

Lookout Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lookout Mountain, GA

How much do homes in Lookout Mountain, GA cost?

Median Sold Price

$517,500

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$104,200(+25.2%)

Key Takeaway

Homes in Lookout Mountain have sold for 25.2% more than they did a year ago.

Summary: The median home sold price in Lookout Mountain was $517,500 in October 2024, up 25.2% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $240K$325K
+35.4%
2 $347K$303K
-12.7%
3 $390K$525.5K
+34.7%
4 $660K$555K
-15.9%
5+ $1.4M$856.7K
-39.0%

Summary: Lookout Mountain housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.4%, 2 bedroom homes decreased by 12.7%, 3 bedroom homes increased by 34.7%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 39%.

Median Sold Price Compared To Nearby Cities

Lookout Mountain
+25.2%
Lookout Mountain
+16.2%

Housing Supply in Lookout Mountain, GA

How many homes are available in Lookout Mountain, GA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3840+5.3%

Summary: The Lookout Mountain real estate market had 40 homes for sale in October 2024, a 5.3% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 12
+100.0%
2 44
0.0%
3 1211
-8.3%
4 1517
+13.3%
5+ 66
0.0%

Summary: The Lookout Mountain housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1013+30.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lookout Mountain, expect to pay close to the asking price. 46.2% of homes here sold near the asking price last month.

Summary: A total of 13 homes were sold or pending in Lookout Mountain in October 2024, up by 30.0% month-over-month. Of the 13 sold homes, 38% were sold under asking, 46% were sold at asking, and 15% were sold over asking.

Days on Market for Lookout Mountain, GA

How long does it take to sell a home in Lookout Mountain, GA?

Average Sale Time

Oct 2023Oct 2024CHANGE
74 Days1 Days-98.1%

Summary: Homes in Lookout Mountain had an average of 1 days on market in Oct 2024, down by 98.1% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lookout Mountain are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 13 homes were sold in Lookout Mountain; 38% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

Newest Listings in Lookout Mountain, GA

Nearby Markets to Lookout Mountain, GA

What housing markets are near Lookout Mountain, GA?