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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Suwanee is a seller's market

Buyer's
Market

Difference Since July 2021

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

Key Takeaway

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

How much do homes in Suwanee, GA cost?

Median Sold Price

$485,668

$190/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$100,468(+26.1%)

Key Takeaway

Homes in Suwanee have sold for 26.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $280K-
N/A
2 $263K$350K
+33.1%
3 $345K$433.8K
+25.7%
4 $398K$493K
+23.9%
5+ $520K$650K
+25.0%

Median Sold Price Compared To Nearby Cities

Sugar Hill
+26.2%
Suwanee
+26.1%
Suwanee-Duluth
+22.6%
Buford-Sugar Hill
+22.3%
Duluth
+18.8%

How many homes are available in Suwanee, GA?

Number of Homes For Sale

Jun 2022Jul 2022%
129127-1.6%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 00
0.0%
2 74
-42.9%
3 3341
+24.2%
4 5444
-18.5%
5+ 3538
+8.6%

Number of Homes Sold

Jun 2022Jul 2022%
5122-56.9%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Suwanee, you could pay more than the asking price. 47.6% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
11 Days13 Days+19.6%

Breakdown of Home Sale Times

20 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Suwanee, GA

Number of homes for sale in Suwanee, GA real estate market have reached 127. The inventory of homes for sale in Suwanee, GA between June 2022 and July 2022 decreased by 1.6%. In July 2022 median list price was $485,668 and the average listing age was 13 days. Between June 2022 and July 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties prices increased by 33.1%, 3 bedrooms properties became 25.7% more expensive, 4 bedrooms properties became 23.9% more expensive, 5 bedrooms properties prices increased by 25%. The following changes in the number of homes for sale were observed in this housing market: volume of 1 bedroom homes stayed the same, volume of 2 bedrooms homes went down by 42.9%, 3 bedrooms homes inventory increased by 24.2%, 4 bedrooms homes inventory decreased by 18.5%, the quantity of 5 bedrooms homes went up by 8.6%. Over 10 listings were sold over their listed price in July 2022 in Suwanee, GA. In the same period over 8 listings were sold below the listed price and 3 listings were sold for the listed price.

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