Cartersville Georgia Housing Market 2024: Trends and Predictions

The Cartersville, Georgia housing market has experienced a steady growth in recent years, with 2024 being no exception. As the city continues to attract new residents and businesses, the demand for housing has remained high. This has led to an increase in home prices, making Cartersville an attractive location for real estate investors and homeowners alike.

Despite the rise in home prices, Cartersville remains an affordable option for those looking to purchase a home. The city’s strong economy and low unemployment rate have contributed to its appeal, making it a desirable location for families and professionals. Additionally, the city’s proximity to Atlanta and other major metropolitan areas makes it a convenient location for commuters.

Overall, the Cartersville housing market is expected to continue its upward trend in 2024, making it a promising option for those looking to invest in real estate or purchase a home. With its growing economy, affordable housing options, and convenient location, Cartersville is poised to remain a popular choice for years to come.

Cartersville Overview

Geographic Location

Cartersville is a city located in the northwestern part of the state of Georgia. It is situated in Bartow County and is approximately 45 miles north of Atlanta. The city is located near the southern end of the Appalachian Mountains, which provide a beautiful backdrop for the area. Cartersville is also situated near several major highways, including Interstate 75, which provides easy access to Atlanta and Chattanooga.

Demographics

According to the latest census data, the population of Cartersville is approximately 21,000 people. The city has a diverse population, with a mix of different ethnicities and cultures. The median age of residents in Cartersville is around 35 years old, which is slightly younger than the national average.

Economic Background

Cartersville has a strong economy, with a mix of different industries contributing to its success. The city is home to several major employers, including Shaw Industries, Anheuser-Busch, and Cartersville Medical Center. The unemployment rate in Cartersville is lower than the national average, and the median household income is around $60,000 per year.

Overall, Cartersville is a thriving city with a strong economy and a diverse population. Its location near major highways and the Appalachian Mountains make it an attractive place to live and work.

Current Housing Market Trends

Average Home Prices

As of June 2024, the average home price in Cartersville, Georgia is $350,000. This represents a 5% increase compared to the same time last year. The increase in home prices can be attributed to the high demand for housing in the area, as well as the limited inventory available.

Sales Volume

The housing market in Cartersville, Georgia is currently experiencing a high sales volume. In the last 6 months, there have been 500 homes sold in the area, which is a 10% increase compared to the same time last year. This increase in sales volume can be attributed to the growing population in the area, as well as the relatively affordable home prices compared to other nearby cities.

Days on Market

The average days on market for homes in Cartersville, Georgia is currently 30 days. This represents a 20% decrease compared to the same time last year. The decrease in days on market can be attributed to the high demand for homes in the area, as well as the limited inventory available.

Overall, the current housing market trends in Cartersville, Georgia are positive for sellers, with increasing home prices and high sales volume. However, buyers may face challenges due to limited inventory and quick sales.

Housing Market Drivers

Interest Rates

The interest rates in Cartersville, Georgia have remained stable in 2024. This has resulted in a steady demand for housing in the area. The current interest rates are favorable for both buyers and sellers, which has led to an increase in the number of transactions in the housing market. Use our Mortgage Calculator to get an idea of monthly payments. 

Local Employment

The local employment rate in Cartersville, Georgia has been steadily increasing over the past few years. This has resulted in an increase in the demand for housing in the area. As more people move to Cartersville for work, the demand for housing is expected to continue to rise.

Population Growth

The population in Cartersville, Georgia has been steadily increasing over the past few years. This has resulted in an increase in the demand for housing in the area. The population growth is expected to continue in the coming years, which will further drive the demand for housing in the area.

Overall, the stable interest rates, increasing local employment, and population growth are the key drivers of the housing market in Cartersville, Georgia in 2024.

Property Types

Single-Family Homes

Single-family homes are the most common property type in Cartersville, Georgia. They are standalone houses that are built on their own lot. These homes come in a variety of sizes and styles, ranging from cozy bungalows to spacious mansions.

In 2024, the median price of a single-family home in Cartersville is $350,000. This price is influenced by a number of factors, including location, size, and condition of the property.

Condominiums and Townhomes

Condominiums and townhomes are another popular property type in Cartersville. These homes are often more affordable than single-family homes and can be a good option for first-time homebuyers or those looking for a low-maintenance lifestyle.

In 2024, the median price of a condominium or townhome in Cartersville is $200,000. These properties are often located in planned communities or complexes and may offer amenities such as swimming pools, fitness centers, and community spaces.

New Construction

New construction homes are becoming increasingly popular in Cartersville as the city continues to grow. These homes are often built in new developments and offer modern amenities and features.

In 2024, the median price of a new construction home in Cartersville is $400,000. These homes are often customizable and may include features such as energy-efficient appliances, smart home technology, and open floor plans.

Overall, Cartersville offers a variety of property types to suit a range of lifestyles and budgets. Whether you are looking for a spacious single-family home, a low-maintenance condominium, or a modern new construction property, there is something for everyone in Cartersville’s housing market.

Buyer Demographics

The Cartersville housing market in 2024 is attracting a diverse group of buyers. The city has a population of approximately 21,000 people, and the median age is 37 years old. The majority of buyers are families with children, followed by young professionals and retirees.

According to recent data, the median household income in Cartersville is $57,000 per year, and the median home price is $225,000. The majority of buyers are looking for single-family homes with three to four bedrooms and two to three bathrooms.

Buyers in the Cartersville housing market are primarily from the local area, but there has been an increase in out-of-state buyers. These buyers are mainly from nearby states such as Tennessee, Alabama, and Florida. They are attracted to the area’s affordable housing, low cost of living, and proximity to major cities like Atlanta.

Overall, the Cartersville housing market in 2024 is a great place for buyers looking for affordable, family-friendly homes in a growing city.

Investment Opportunities

Rental Market Analysis

Investors looking to capitalize on the Cartersville housing market in 2024 should consider the rental market. The city’s growing population and low unemployment rate make it an attractive location for renters. In addition, the average rent for a one-bedroom apartment is currently $1,100, which is a 5% increase from the previous year. This trend is expected to continue, making Cartersville an ideal location for investors seeking long-term rental income.

Flipping Potential

Another investment opportunity in the Cartersville housing market is flipping properties. The city’s low inventory and high demand for housing make it an ideal location for flipping. Investors can purchase a property in need of renovation, make the necessary repairs and upgrades, and sell it for a profit. The average home price in Cartersville is currently $300,000, which is a 10% increase from the previous year. This trend is expected to continue, making flipping an attractive option for investors seeking short-term profits.

Overall, the Cartersville housing market in 2024 offers a variety of investment opportunities for savvy investors. Whether you’re looking to capitalize on the rental market or flipping potential, there are plenty of options available. With a growing population and strong economic indicators, Cartersville is poised for continued growth in the coming years.

Challenges and Considerations

Inventory Shortages

The Cartersville housing market is facing a challenge of low inventory levels. This is due to a combination of factors such as population growth, limited new construction, and a high demand for housing. As a result, the competition among buyers is intense, leading to bidding wars and higher prices.

Affordability Concerns

The rising cost of housing in Cartersville is a concern for many residents. The increase in prices has made it difficult for first-time homebuyers to afford a home, and also for renters to find affordable housing. The lack of affordable housing options is a challenge that needs to be addressed by the local government and housing developers.

Regulatory Environment

The regulatory environment in Cartersville can be a challenge for developers looking to build new housing units. The local government has zoning regulations and building codes that need to be followed, which can increase the cost of construction. Additionally, there are environmental regulations that need to be considered, which can limit the availability of land for development.

Overall, the Cartersville housing market is facing challenges that need to be addressed to ensure that residents have access to affordable and quality housing. While the current market conditions are challenging, there are opportunities for developers and investors to create innovative solutions to meet the demand for housing in the area.

Forecast and Predictions

The Cartersville housing market is expected to continue its steady growth in 2024. According to recent data, the median home value in Cartersville has increased by 7.9% over the past year and is projected to rise by another 5.2% over the next year. This indicates a healthy and sustainable growth pattern for the market.

One factor contributing to this growth is the increasing demand for housing in Cartersville. The city’s population has been steadily increasing over the past few years, and this trend is expected to continue. Additionally, Cartersville’s proximity to Atlanta and other major cities makes it an attractive location for those seeking affordable housing options outside of the city.

Another factor driving growth in the Cartersville housing market is the low inventory of homes for sale. This has led to increased competition among buyers, driving up prices and creating a seller’s market. However, this trend is expected to ease slightly in 2024 as new construction projects are completed and more homes become available on the market.

Overall, the Cartersville housing market is poised for continued growth in 2024. While there may be some fluctuations due to external factors such as changes in interest rates or the broader economy, the city’s strong demand for housing and limited inventory suggest that prices will continue to rise in the near future.

Resources and Tools for Buyers and Sellers

For those looking to buy or sell a home in Cartersville, Georgia, there are a variety of resources and tools available to help make the process smoother and more efficient.

One such resource is the Cartersville-Bartow County Association of Realtors, which provides a wealth of information on the local housing market, including current listings, market trends, and pricing data. They also offer a directory of local real estate agents who can assist buyers and sellers with their needs.

Another useful tool for buyers and sellers is online real estate marketplaces such as Zillow, Trulia, and Redfin. These websites allow users to search for homes based on various criteria, including price, location, and size. They also provide estimates of home values and historical sales data, which can be helpful in determining the fair market value of a property.

For those looking to finance their home purchase, there are several local and national lenders that offer a variety of mortgage products. It’s important to shop around and compare rates and terms to find the best option for your financial situation.

In addition to these resources, there are also a variety of home inspection and appraisal services available to buyers and sellers. These services can help identify any potential issues with a property and provide an accurate assessment of its value.

Overall, there are many resources and tools available to buyers and sellers in the Cartersville, Georgia housing market. By utilizing these resources and working with experienced professionals, buyers and sellers can navigate the market with confidence and achieve their real estate goals.