Is Suwanee-Duluth, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Suwanee-Duluth has remained a Seller's Market.
Housing Prices in Suwanee-Duluth, GA
How much do homes in Suwanee-Duluth, GA cost?
Median Sold Price
$497,614
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Suwanee-Duluth was $497,614 in February 2024, up 6.7% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $214K | $302.5K | +41.4% |
2 Bedrooms | $295K | $299K | +1.4% |
3 Bedrooms | $397.1K | $429.9K | +8.2% |
4 Bedrooms | $489.9K | $525K | +7.2% |
5+ Bedrooms | $665K | $700.7K | +5.4% |
Summary: Suwanee-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 1.4%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 5.4%.
Median Sold Price Compared To Nearby Cities
Suwanee | $519.9K | $593.9K | +14.2% |
Duluth | $431.6K | $475.3K | +10.1% |
Suwanee-Duluth | $466.2K | $497.6K | +6.7% |
Johns Creek | $626K | $664.4K | +6.1% |
Berkeley Lake | $675K | $665K | -1.5% |
Housing Supply in Suwanee-Duluth, GA
How many homes are available in Suwanee-Duluth, GA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
309 | 313 | +1.3% |
Summary: The Suwanee-Duluth real estate market had 313 homes for sale in February 2024, a 1.3% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 12 | +9.1% |
3 Bedrooms | 117 | 108 | -7.7% |
4 Bedrooms | 88 | 91 | +3.4% |
5+ Bedrooms | 93 | 102 | +9.7% |
Summary: The Suwanee-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 9.1%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 9.7%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
86 | 83 | -3.5% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
22 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Summary: A total of 83 homes were sold or pending in Suwanee-Duluth in February 2024, down by 3.5% month-over-month. Of the 80 sold homes, 38% were sold under asking, 28% were sold at asking, and 35% were sold over asking.
Days on Market for Suwanee-Duluth, GA
How long does it take to sell a home in Suwanee-Duluth, GA?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
53 Days | 34 Days | -36.6% |
Summary: Homes in Suwanee-Duluth had an average of 34 days on market in Feb 2024, down by 36.6% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During February 2024, 83 homes were sold in Suwanee-Duluth; 69% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.