Is Southeast Banks, 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, Southeast Banks has remained a Seller's Market.
Key Takeaway
Southeast Banks is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southeast Banks, GA
How much do homes in Southeast Banks, GA cost?
Median Sold Price
$345,950
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southeast Banks have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Southeast Banks was $345,950 in May 2024, up 11.6% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187.2K | - | N/A |
| 2 Bedrooms | $558.4K | $75K | -86.6% |
| 3 Bedrooms | $309.9K | $330K | +6.5% |
| 4 Bedrooms | $326.7K | $365.9K | +12.0% |
| 5+ Bedrooms | - | $652.5K | N/A |
Summary: Southeast Banks 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 decreased by 86.6%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 12%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Commerce | $289.9K | $325K | +12.1% |
| Southeast Banks | $309.9K | $345.9K | +11.6% |
Housing Supply in Southeast Banks, GA
How many homes are available in Southeast Banks, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 27 | 22 | -18.5% |
Summary: The Southeast Banks real estate market had 22 homes for sale in May 2024, a 18.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 10 | 8 | -20.0% |
| 4 Bedrooms | 12 | 8 | -33.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Southeast Banks 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 33.3%, 3 bedroom homes decreased by 20%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Southeast Banks, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Southeast Banks in May 2024, up by 40.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 50% were sold at asking, and 17% were sold over asking.
Days on Market for Southeast Banks, GA
How long does it take to sell a home in Southeast Banks, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 107 Days | 31 Days | -70.8% |
Summary: Homes in Southeast Banks had an average of 31 days on market in May 2024, down by 70.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Southeast Banks are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Southeast Banks; 71% of homes were sold within 30 days, 14% 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.