$2,374 Closing Credit*
$199,900
880 SqFt
2 Beds
•2 Full Baths
Tressa Cagle, Listing Office: Key to your home Realty LLC
Is Shannon, 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, Shannon was a Seller's Market.
Key Takeaway
Shannon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Shannon, GA
How much do homes in Shannon, GA cost?
Median Sold Price
$280,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$74,000(+35.9%)
Key Takeaway
Homes in Shannon have sold for 35.9% more than they did a year ago.
Summary: The median home sold price in Shannon was $280,000 in November 2024, up 35.9% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $80K | $124.9K | +56.1% |
| 2 Bedrooms | $167.5K | $175K | +4.5% |
| 3 Bedrooms | $230.3K | $280K | +21.6% |
| 4 Bedrooms | $374.9K | $309.9K | -17.3% |
| 5+ Bedrooms | $560K | $590K | +5.4% |
Summary: Shannon housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.1%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 21.6%, 4 bedroom homes decreased by 17.3%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
| Shannon | $206K | $280K | +35.9% |
| Armuchee | $274.5K | $295.3K | +7.6% |
Housing Supply in Shannon, GA
How many homes are available in Shannon, GA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 32 | +6.7% |
Summary: The Shannon real estate market had 32 homes for sale in November 2024, a 6.7% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Shannon housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shannon, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Shannon in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Shannon, GA
How long does it take to sell a home in Shannon, GA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 41 Days | +41.2% |
Summary: Homes in Shannon had an average of 41 days on market in Nov 2024, up by 41.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Shannon are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Shannon; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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