Is South Newton, 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 Newton was a Seller's Market.
Key Takeaway
South Newton is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Newton, GA
How much do homes in South Newton, GA cost?
Median Sold Price
$308,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Newton have sold for 4.9% more than they did a year ago.
Summary: The median home sold price in South Newton was $308,000 in May 2024, up 4.9% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | - | N/A |
| 2 Bedrooms | $290K | $325K | +12.1% |
| 3 Bedrooms | $270K | $272K | +0.7% |
| 4 Bedrooms | $302.4K | $319.4K | +5.6% |
| 5+ Bedrooms | $314.9K | $319.9K | +1.6% |
Summary: South Newton 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 12.1%, 3 bedroom homes increased by 0.7%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
| South Newton | $293.7K | $308K | +4.9% |
| Eudora | $314K | $326K | +3.8% |
| Worthville | $292K | $302.7K | +3.7% |
| Covington-Porterdale | $298.8K | $303K | +1.4% |
Housing Supply in South Newton, GA
How many homes are available in South Newton, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 75 | -6.3% |
Summary: The South Newton real estate market had 75 homes for sale in May 2024, a 6.3% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 28 | 33 | +17.9% |
| 4 Bedrooms | 43 | 35 | -18.6% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The South Newton 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 33.3%, 3 bedroom homes increased by 17.9%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 22 | 10 | -54.5% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Newton, expect to pay close to the asking price. 44.4% of homes here sold near the asking price last month.
Summary: A total of 10 homes were sold or pending in South Newton in May 2024, down by 54.5% month-over-month. Of the 9 sold homes, 33% were sold under asking, 44% were sold at asking, and 22% were sold over asking.
Days on Market for South Newton, GA
How long does it take to sell a home in South Newton, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 13 Days | 30 Days | +117.1% |
Summary: Homes in South Newton had an average of 30 days on market in May 2024, up by 117.1% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Newton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in South Newton; 60% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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