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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Suwanee-Duluth is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

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

+$31,401(+6.7%)

Key Takeaway

Homes in Suwanee-Duluth have sold for 6.7% more than they did a year ago.

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

# BEDSFeb 2023Feb 2024CHANGE
1 $214K$302.5K
+41.4%
2 $295K$299K
+1.4%
3 $397.1K$429.9K
+8.2%
4 $489.9K$525K
+7.2%
5+ $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
+14.2%
Duluth
+10.1%
Suwanee-Duluth
+6.7%
Johns Creek
+6.1%
Berkeley Lake
-1.5%

Housing Supply in Suwanee-Duluth, GA

How many homes are available in Suwanee-Duluth, GA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
309313+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

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 117108
-7.7%
4 8891
+3.4%
5+ 93102
+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 2024Feb 2024CHANGE
8683-3.5%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

22 Homes Were Sold
At Asking

28 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Suwanee-Duluth, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.

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 2023Feb 2024CHANGE
53 Days34 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 27 Days Ago

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