Is Rich Mountain, 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, Rich Mountain was a Seller's Market.
Housing Prices in Rich Mountain, GA
How much do homes in Rich Mountain, GA cost?
Median Sold Price
$477,450
$267/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rich Mountain was $477,450 in May 2024, up 1.8% from last year, and the median price per square foot was $267.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $453.7K | $288.3K | -36.5% |
2 Bedrooms | $375K | $422.5K | +12.7% |
3 Bedrooms | $500K | $475K | -5.0% |
4 Bedrooms | $675K | $567.5K | -15.9% |
5+ Bedrooms | $900K | $630K | -30.0% |
Summary: Rich Mountain housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.5%, 2 bedroom homes increased by 12.7%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 15.9%, and 5+ bedroom homes decreased by 30%.
Median Sold Price Compared To Nearby Cities
South Gilmer | $472.5K | $541K | +14.5% |
Ellijay | $424.8K | $450K | +5.9% |
North Gilmer | $446.7K | $460K | +3.0% |
Rich Mountain | $469K | $477.4K | +1.8% |
Cherry Log | $515K | $479.9K | -6.8% |
Housing Supply in Rich Mountain, GA
How many homes are available in Rich Mountain, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
125 | 140 | +12.0% |
Summary: The Rich Mountain real estate market had 140 homes for sale in May 2024, a 12.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 34 | 34 | 0.0% |
3 Bedrooms | 60 | 69 | +15.0% |
4 Bedrooms | 22 | 23 | +4.5% |
5+ Bedrooms | 8 | 12 | +50.0% |
Summary: The Rich Mountain housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 11 | -31.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 11 homes were sold or pending in Rich Mountain in May 2024, down by 31.3% month-over-month. Of the 11 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% were sold over asking.
Days on Market for Rich Mountain, GA
How long does it take to sell a home in Rich Mountain, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
27 Days | 29 Days | +7.1% |
Summary: Homes in Rich Mountain had an average of 29 days on market in May 2024, up by 7.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 11 homes were sold in Rich Mountain; 45% of homes were sold within 30 days, 55% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.