Is Cumming, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Cumming has remained a Seller's Market.
Key Takeaway
Cumming is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumming, GA
How much do homes in Cumming, GA cost?
Median Sold Price
$584,047
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Cumming have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Cumming was $584,047 in June 2024, up 7.5% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $527.5K | $224K | -57.5% |
| 2 Bedrooms | $334.9K | $350K | +4.5% |
| 3 Bedrooms | $425K | $461.6K | +8.6% |
| 4 Bedrooms | $544.7K | $589.8K | +8.3% |
| 5+ Bedrooms | $689.2K | $757.1K | +9.9% |
Summary: Cumming housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 57.5%, 2 bedroom homes increased by 4.5%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 9.9%.
Housing Supply in Cumming, GA
How many homes are available in Cumming, GA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 1,112 | 1,202 | +8.1% |
Summary: The Cumming real estate market had 1,202 homes for sale in June 2024, a 8.1% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 58 | 58 | 0.0% |
| 3 Bedrooms | 278 | 307 | +10.4% |
| 4 Bedrooms | 364 | 379 | +4.1% |
| 5+ Bedrooms | 409 | 453 | +10.8% |
Summary: The Cumming housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 308 | 248 | -19.5% |
Asking Price vs. Sold Price
116 Homes Were Sold
Under Asking
55 Homes Were Sold
At Asking
69 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cumming, you may be able to get a good deal. 48.3% of homes here sold below asking price last month.
Summary: A total of 248 homes were sold or pending in Cumming in June 2024, down by 19.5% month-over-month. Of the 240 sold homes, 48% were sold under asking, 23% were sold at asking, and 29% were sold over asking.
Days on Market for Cumming, GA
How long does it take to sell a home in Cumming, GA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 17 Days | 21 Days | +23.0% |
Summary: Homes in Cumming had an average of 21 days on market in Jun 2024, up by 23% compared to last year.
Breakdown of Home Sale Times
179 Homes Were Sold
Under 30 Days
63 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cumming are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 248 homes were sold in Cumming; 72% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.