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 June 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

$520,228

$210/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$57,601(+12.5%)

Key Takeaway

Homes in Suwanee-Duluth have sold for 12.5% more than they did a year ago.

Summary: The median home sold price in Suwanee-Duluth was $520,228 in June 2024, up 12.5% from last year, and the median price per square foot was $210.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $220K$302.5K
+37.5%
2 $300K$312K
+4.0%
3 $399.4K$442.3K
+10.7%
4 $486.8K$532.6K
+9.4%
5+ $680K$725K
+6.6%

Summary: Suwanee-Duluth housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 6.6%.

Median Sold Price Compared To Nearby Cities

Duluth
+14.2%
Suwanee-Duluth
+12.5%
Johns Creek
+10.5%
Suwanee
+10.2%

Housing Supply in Suwanee-Duluth, GA

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

Number of Homes For Sale

May 2024Jun 2024CHANGE
586615+4.9%

Summary: The Suwanee-Duluth real estate market had 615 homes for sale in June 2024, a 4.9% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 01
+100.0%
2 1823
+27.8%
3 187184
-1.6%
4 180167
-7.2%
5+ 201240
+19.4%

Summary: The Suwanee-Duluth housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.8%, 3 bedroom homes decreased by 1.6%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes increased by 19.4%.

Number of Homes Sold

May 2024Jun 2024CHANGE
186123-33.9%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

29 Homes Were Sold
At Asking

41 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. 42.6% of homes here sold below asking price last month.

Summary: A total of 123 homes were sold or pending in Suwanee-Duluth in June 2024, down by 33.9% month-over-month. Of the 122 sold homes, 43% were sold under asking, 24% were sold at asking, and 34% 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

Jun 2023Jun 2024CHANGE
17 Days27 Days+55.1%

Summary: Homes in Suwanee-Duluth had an average of 27 days on market in Jun 2024, up by 55.1% compared to last year.

Breakdown of Home Sale Times

94 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

6 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 June 2024, 123 homes were sold in Suwanee-Duluth; 76% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 5% 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 23 Days Ago

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