Is South Gilmer, 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, South Gilmer was a Seller's Market.
Housing Prices in South Gilmer, GA
How much do homes in South Gilmer, GA cost?
Median Sold Price
$541,000
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Gilmer was $541,000 in May 2024, up 14.5% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $227K | - | N/A |
2 Bedrooms | $359.9K | $375K | +4.2% |
3 Bedrooms | $490K | $530.5K | +8.3% |
4 Bedrooms | $515K | $410K | -20.4% |
5+ Bedrooms | $709K | $549.7K | -22.5% |
Summary: South Gilmer 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 4.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 20.4%, and 5+ bedroom homes decreased by 22.5%.
Median Sold Price Compared To Nearby Cities
Nelson-Tate-Marble Hill | $407.7K | $468.3K | +14.9% |
South Gilmer | $472.5K | $541K | +14.5% |
Ellijay | $424.8K | $450K | +5.9% |
Carters Lake | $399.3K | $420.1K | +5.2% |
Rich Mountain | $469K | $477.4K | +1.8% |
Housing Supply in South Gilmer, GA
How many homes are available in South Gilmer, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
49 | 73 | +49.0% |
Summary: The South Gilmer real estate market had 73 homes for sale in May 2024, a 49.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 8 | 12 | +50.0% |
3 Bedrooms | 15 | 23 | +53.3% |
4 Bedrooms | 15 | 26 | +73.3% |
5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The South Gilmer housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 53.3%, 4 bedroom homes increased by 73.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in South Gilmer in May 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for South Gilmer, GA
How long does it take to sell a home in South Gilmer, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
52 Days | 138 Days | +165.0% |
Summary: Homes in South Gilmer had an average of 138 days on market in May 2024, up by 165% 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
Summary: During May 2024, 3 homes were sold in South Gilmer; 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.