Is Suwanee, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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.
Housing Prices in Suwanee, GA
How much do homes in Suwanee, GA cost?
Median Sold Price
$594,992
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Suwanee have sold for 12.3% more than they did a year ago.
Summary: The median home sold price in Suwanee was $594,992 in March 2024, up 12.3% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $350K | $377K | +7.7% |
| 3 Bedrooms | $455K | $480K | +5.5% |
| 4 Bedrooms | $530K | $573.4K | +8.2% |
| 5+ Bedrooms | $699.5K | $799.6K | +14.3% |
Summary: Suwanee housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 14.3%.
Median Sold Price Compared To Nearby Cities
| Duluth | $430K | $488K | +13.5% |
| Suwanee | $530K | $594.9K | +12.3% |
| Suwanee-Duluth | $467.4K | $506.9K | +8.4% |
| Buford-Sugar Hill | $455.3K | $469.9K | +3.2% |
| Sugar Hill | $430K | $436K | +1.4% |
Housing Supply in Suwanee, GA
How many homes are available in Suwanee, GA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 303 | 347 | +14.5% |
Summary: The Suwanee real estate market had 347 homes for sale in March 2024, a 14.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 1 | +100.0% |
| 3 Bedrooms | 95 | 90 | -5.3% |
| 4 Bedrooms | 91 | 111 | +22.0% |
| 5+ Bedrooms | 117 | 145 | +23.9% |
Summary: The Suwanee housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 22%, and 5+ bedroom homes increased by 23.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 84 | 105 | +25.0% |
Asking Price vs. Sold Price
47 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Suwanee, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.
Summary: A total of 105 homes were sold or pending in Suwanee in March 2024, up by 25.0% month-over-month. Of the 99 sold homes, 47% were sold under asking, 13% were sold at asking, and 39% were sold over asking.
Days on Market for Suwanee, GA
How long does it take to sell a home in Suwanee, GA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 29 Days | -35.9% |
Summary: Homes in Suwanee had an average of 29 days on market in Mar 2024, down by 35.9% compared to last year.
Breakdown of Home Sale Times
81 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Suwanee are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 105 homes were sold in Suwanee; 77% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 9% 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.