Is Suwanee, 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, 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
How much do homes in Suwanee, GA cost?
Median Sold Price
$561,470
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Suwanee have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Suwanee was $561,470 in August 2023, up 13.4% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $350K | $369.9K | +5.7% |
| 3 Bedrooms | $441K | $463.6K | +5.1% |
| 4 Bedrooms | $509.6K | $553.4K | +8.6% |
| 5+ Bedrooms | $650K | $769.8K | +18.4% |
Summary: Suwanee 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 5.7%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 18.4%.
Median Sold Price Compared To Nearby Cities
| Duluth | $381.1K | $451K | +18.4% |
| Suwanee | $495K | $561.4K | +13.4% |
| Sugar Hill | $400K | $430K | +7.5% |
| Buford-Sugar Hill | $430.7K | $456.9K | +6.1% |
| Suwanee-Duluth | $450K | $474.9K | +5.6% |
Housing Supply
How many homes are available in Suwanee, GA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 385 | 369 | -4.2% |
Summary: The Suwanee real estate market had 369 homes for sale in August 2023, a 4.2% decrease 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 | 1 | 6 | +500.0% |
| 3 Bedrooms | 80 | 74 | -7.5% |
| 4 Bedrooms | 134 | 131 | -2.2% |
| 5+ Bedrooms | 170 | 158 | -7.1% |
Summary: The Suwanee 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 500%, 3 bedroom homes decreased by 7.5%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 7.1%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 134 | 127 | -5.2% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
62 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Suwanee, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 127 homes were sold or pending in Suwanee in August 2023, down by 5.2% month-over-month. Of the 124 sold homes, 35% were sold under asking, 15% were sold at asking, and 50% were sold over asking.
Days on Market
How long does it take to sell a home in Suwanee, GA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 20 Days | 16 Days | -21.5% |
Summary: Homes in Suwanee had an average of 16 days on market in Aug 2023, down by 21.5% compared to last year.
Breakdown of Home Sale Times
110 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 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 August 2023, 127 homes were sold in Suwanee; 87% of homes were sold within 30 days, 11% 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.