Is Silver City, 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, Silver City has remained a Seller's Market.
Housing Prices in Silver City, GA
How much do homes in Silver City, GA cost?
Median Sold Price
$540,000
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Silver City was $540,000 in May 2024, up 7.3% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $290K | $350K | +20.7% |
3 Bedrooms | $395K | $427.5K | +8.2% |
4 Bedrooms | $485K | $530K | +9.3% |
5+ Bedrooms | $580K | $635K | +9.5% |
Summary: Silver City 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 20.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 9.5%.
Median Sold Price Compared To Nearby Cities
Silver City | $503.2K | $540K | +7.3% |
Blacks Mill | $425.6K | $454.2K | +6.7% |
Chestatee | $489.6K | $490K | 0.1% |
Housing Supply in Silver City, GA
How many homes are available in Silver City, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
219 | 229 | +4.6% |
Summary: The Silver City real estate market had 229 homes for sale in May 2024, a 4.6% 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 | 1 | 2 | +100.0% |
3 Bedrooms | 47 | 47 | 0.0% |
4 Bedrooms | 89 | 97 | +9.0% |
5+ Bedrooms | 82 | 83 | +1.2% |
Summary: The Silver City 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 1.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
50 | 45 | -10.0% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Silver City in May 2024, down by 10.0% month-over-month. Of the 44 sold homes, 50% were sold under asking, 32% were sold at asking, and 18% were sold over asking.
Days on Market for Silver City, GA
How long does it take to sell a home in Silver City, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 22 Days | +2.6% |
Summary: Homes in Silver City had an average of 22 days on market in May 2024, up by 2.6% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 45 homes were sold in Silver City; 80% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.