Is Commerce, 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, Commerce has remained a Seller's Market.
Housing Prices in Commerce, GA
How much do homes in Commerce, GA cost?
Median Sold Price
$325,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Commerce was $325,000 in May 2024, up 12.1% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | - | N/A |
2 Bedrooms | $182K | $185K | +1.6% |
3 Bedrooms | $280K | $309K | +10.4% |
4 Bedrooms | $344.9K | $383.5K | +11.2% |
5+ Bedrooms | $359.9K | $475.7K | +32.2% |
Summary: Commerce 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 1.6%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 32.2%.
Median Sold Price Compared To Nearby Cities
Maysville | $300K | $359.9K | +20.0% |
Commerce | $289.9K | $325K | +12.1% |
Southeast Banks | $309.9K | $345.9K | +11.6% |
Housing Supply in Commerce, GA
How many homes are available in Commerce, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
144 | 144 | 0.0% |
Summary: The Commerce real estate market had 144 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 26 | 22 | -15.4% |
3 Bedrooms | 50 | 50 | 0.0% |
4 Bedrooms | 53 | 52 | -1.9% |
5+ Bedrooms | 13 | 18 | +38.5% |
Summary: The Commerce 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 decreased by 15.4%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 38.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
31 | 37 | +19.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Commerce in May 2024, up by 19.4% month-over-month. Of the 35 sold homes, 37% were sold under asking, 29% were sold at asking, and 34% were sold over asking.
Days on Market for Commerce, GA
How long does it take to sell a home in Commerce, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
45 Days | 27 Days | -40.9% |
Summary: Homes in Commerce had an average of 27 days on market in May 2024, down by 40.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 37 homes were sold in Commerce; 57% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.