Is Summerville, 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, Summerville has remained a Seller's Market.
Key Takeaway
Summerville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summerville, GA
How much do homes in Summerville, GA cost?
Median Sold Price
$189,000
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Summerville have sold for 0.5% less than they did a year ago.
Summary: The median home sold price in Summerville was $189,000 in May 2024, down 0.5% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $27K | $71.9K | +166.5% |
| 2 Bedrooms | $120K | $85K | -29.2% |
| 3 Bedrooms | $195K | $202K | +3.6% |
| 4 Bedrooms | $283K | $315K | +11.3% |
| 5+ Bedrooms | $210K | $510K | +142.9% |
Summary: Summerville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 166.5%, 2 bedroom homes decreased by 29.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 142.9%.
Housing Supply in Summerville, GA
How many homes are available in Summerville, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 63 | +12.5% |
Summary: The Summerville real estate market had 63 homes for sale in May 2024, a 12.5% increase 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 | 16 | 19 | +18.8% |
| 3 Bedrooms | 25 | 28 | +12.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Summerville 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 18.8%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 19 | +111.1% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summerville, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Summerville in May 2024, up by 111.1% month-over-month. Of the 17 sold homes, 59% were sold under asking, 18% were sold at asking, and 24% were sold over asking.
Days on Market for Summerville, GA
How long does it take to sell a home in Summerville, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 48 Days | +42.0% |
Summary: Homes in Summerville had an average of 48 days on market in May 2024, up by 42% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summerville are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Summerville; 42% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
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Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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