Is Suwanee-Duluth, 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, Suwanee-Duluth has remained a Seller's Market.
Housing Prices in Suwanee-Duluth, GA
How much do homes in Suwanee-Duluth, GA cost?
Median Sold Price
$515,000
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Suwanee-Duluth was $515,000 in May 2024, up 11.5% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $214K | $302.5K | +41.4% |
2 Bedrooms | $300K | $312K | +4.0% |
3 Bedrooms | $398.5K | $440K | +10.4% |
4 Bedrooms | $486.2K | $530K | +9.0% |
5+ Bedrooms | $680K | $701.5K | +3.2% |
Summary: Suwanee-Duluth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.4%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 9%, and 5+ bedroom homes increased by 3.2%.
Median Sold Price Compared To Nearby Cities
Duluth | $443.8K | $499K | +12.4% |
Suwanee-Duluth | $461.6K | $515K | +11.5% |
Berkeley Lake | $630K | $690K | +9.5% |
Johns Creek | $623.9K | $680.5K | +9.1% |
Suwanee | $559.3K | $601.9K | +7.6% |
Housing Supply in Suwanee-Duluth, GA
How many homes are available in Suwanee-Duluth, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
489 | 596 | +21.9% |
Summary: The Suwanee-Duluth real estate market had 596 homes for sale in May 2024, a 21.9% 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 | 18 | +12.5% |
3 Bedrooms | 169 | 183 | +8.3% |
4 Bedrooms | 157 | 185 | +17.8% |
5+ Bedrooms | 147 | 210 | +42.9% |
Summary: The Suwanee-Duluth 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 12.5%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 17.8%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
128 | 151 | +18.0% |
Asking Price vs. Sold Price
70 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Summary: A total of 151 homes were sold or pending in Suwanee-Duluth in May 2024, up by 18.0% month-over-month. Of the 146 sold homes, 48% were sold under asking, 15% were sold at asking, and 37% were sold over asking.
Days on Market for Suwanee-Duluth, GA
How long does it take to sell a home in Suwanee-Duluth, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 20 Days | -0.3% |
Summary: Homes in Suwanee-Duluth had an average of 20 days on market in May 2024, down by 0.3% compared to last year.
Breakdown of Home Sale Times
121 Homes Were Sold
Under 30 Days
24 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During May 2024, 151 homes were sold in Suwanee-Duluth; 80% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.