Is Norcross, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Norcross has remained a Seller's Market.
Key Takeaway
Norcross is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Norcross, GA cost?
Median Sold Price
$335,000
$195/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Norcross have sold for 8.2% less than they did a year ago.
Summary: The median home sold price in Norcross was $335,000 in August 2023, down 8.2% from last year, and the median price per square foot was $195.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $241.2K | N/A |
| 2 Bedrooms | $231K | $239.9K | +3.9% |
| 3 Bedrooms | $335K | $327K | -2.4% |
| 4 Bedrooms | $551K | $400K | -27.4% |
| 5+ Bedrooms | $757K | $417K | -44.9% |
Summary: Norcross housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.9%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 27.4%, and 5+ bedroom homes decreased by 44.9%.
Median Sold Price Compared To Nearby Cities
| Peachtree Corners | $440.3K | $510K | +15.8% |
| Norcross | $365K | $335K | -8.2% |
Housing Supply
How many homes are available in Norcross, GA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 146 | 165 | +13.0% |
Summary: The Norcross real estate market had 165 homes for sale in August 2023, a 13.0% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 33 | 39 | +18.2% |
| 3 Bedrooms | 65 | 83 | +27.7% |
| 4 Bedrooms | 34 | 26 | -23.5% |
| 5+ Bedrooms | 14 | 17 | +21.4% |
Summary: The Norcross housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 27.7%, 4 bedroom homes decreased by 23.5%, and 5+ bedroom homes increased by 21.4%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 46 | 55 | +19.6% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norcross, you may be able to get a good deal. 39.2% of homes here sold below asking price last month.
Summary: A total of 55 homes were sold or pending in Norcross in August 2023, up by 19.6% month-over-month. Of the 51 sold homes, 39% were sold under asking, 27% were sold at asking, and 33% were sold over asking.
Days on Market
How long does it take to sell a home in Norcross, GA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 14 Days | 25 Days | +83.3% |
Summary: Homes in Norcross had an average of 25 days on market in Aug 2023, up by 83.3% compared to last year.
Breakdown of Home Sale Times
48 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norcross are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 55 homes were sold in Norcross; 87% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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