Is McDonough, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, McDonough was a Seller's Market.
Housing Prices in McDonough, GA
How much do homes in McDonough, GA cost?
Median Sold Price
$364,644
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in McDonough was $364,644 in April 2024, up 2.6% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $280K | N/A |
2 Bedrooms | $236.5K | $259K | +9.5% |
3 Bedrooms | $289.2K | $300K | +3.7% |
4 Bedrooms | $374.9K | $375K | 0.0% |
5+ Bedrooms | $450K | $485K | +7.8% |
Summary: McDonough housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 3.7%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 7.8%.
Housing Supply in McDonough, GA
How many homes are available in McDonough, GA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
708 | 826 | +16.7% |
Summary: The McDonough real estate market had 826 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 22 | 26 | +18.2% |
3 Bedrooms | 252 | 287 | +13.9% |
4 Bedrooms | 270 | 311 | +15.2% |
5+ Bedrooms | 164 | 201 | +22.6% |
Summary: The McDonough housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes increased by 22.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
137 | 131 | -4.4% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Summary: A total of 131 homes were sold or pending in McDonough in April 2024, down by 4.4% month-over-month. Of the 115 sold homes, 48% were sold under asking, 30% were sold at asking, and 23% were sold over asking.
Days on Market for McDonough, GA
How long does it take to sell a home in McDonough, GA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
43 Days | 46 Days | +6.7% |
Summary: Homes in McDonough had an average of 46 days on market in Apr 2024, up by 6.7% compared to last year.
Breakdown of Home Sale Times
80 Homes Were Sold
Under 30 Days
27 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During April 2024, 131 homes were sold in McDonough; 61% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.