Is Duluth, GA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Duluth is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Duluth has remained a Seller's Market.

Key Takeaway

Duluth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Duluth, GA

How much do homes in Duluth, GA cost?

Median Sold Price

$475,366

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$43,732(+10.1%)

Key Takeaway

Homes in Duluth have sold for 10.1% more than they did a year ago.

Summary: The median home sold price in Duluth was $475,366 in February 2024, up 10.1% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $214K$302.5K
+41.4%
2 $275.2K$286.2K
+4.0%
3 $361.5K$389.1K
+7.6%
4 $490K$525K
+7.1%
5+ $715K$897K
+25.5%

Summary: Duluth housing prices by bedroom type for February 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 7.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 25.5%.

Median Sold Price Compared To Nearby Cities

Suwanee
+14.2%
Duluth
+10.1%
Suwanee-Duluth
+6.7%
Johns Creek
+6.1%
Berkeley Lake
-1.5%

Housing Supply in Duluth, GA

How many homes are available in Duluth, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
218232+6.4%

Summary: The Duluth real estate market had 232 homes for sale in February 2024, a 6.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1011
+10.0%
3 8267
-18.3%
4 5471
+31.5%
5+ 7283
+15.3%

Summary: The Duluth housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 18.3%, 4 bedroom homes increased by 31.5%, and 5+ bedroom homes increased by 15.3%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
7358-20.5%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Duluth, you may be able to get a good deal. 46.3% of homes here sold below asking price last month.

Summary: A total of 58 homes were sold or pending in Duluth in February 2024, down by 20.5% month-over-month. Of the 54 sold homes, 46% were sold under asking, 22% were sold at asking, and 31% were sold over asking.

Days on Market for Duluth, GA

How long does it take to sell a home in Duluth, GA?

Average Sale Time

Feb 2023Feb 2024CHANGE
51 Days31 Days-38.6%

Summary: Homes in Duluth had an average of 31 days on market in Feb 2024, down by 38.6% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

9 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Duluth are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 58 homes were sold in Duluth; 71% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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