Is Suwanee, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Suwanee has remained a Seller's Market.
Housing Prices in Suwanee, GA
How much do homes in Suwanee, GA cost?
Median Sold Price
$599,881
$210/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Suwanee was $599,881 in April 2024, up 10% from last year, and the median price per square foot was $210.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $385K | $377K | -2.1% |
3 Bedrooms | $451.2K | $491K | +8.8% |
4 Bedrooms | $538.6K | $574.8K | +6.7% |
5+ Bedrooms | $720K | $811.1K | +12.7% |
Summary: Suwanee housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 8.8%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 12.7%.
Median Sold Price Compared To Nearby Cities
Duluth | $432.1K | $494.1K | +14.3% |
Suwanee-Duluth | $462.6K | $513.4K | +11.0% |
Suwanee | $545.3K | $599.8K | +10.0% |
Buford-Sugar Hill | $460K | $480K | +4.3% |
Sugar Hill | $430K | $444K | +3.3% |
Housing Supply in Suwanee, GA
How many homes are available in Suwanee, GA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
353 | 398 | +12.7% |
Summary: The Suwanee real estate market had 398 homes for sale in April 2024, a 12.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 0 | 1 | +100.0% |
3 Bedrooms | 91 | 98 | +7.7% |
4 Bedrooms | 121 | 133 | +9.9% |
5+ Bedrooms | 141 | 166 | +17.7% |
Summary: The Suwanee housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 17.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
118 | 114 | -3.4% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 114 homes were sold or pending in Suwanee in April 2024, down by 3.4% month-over-month. Of the 112 sold homes, 34% were sold under asking, 21% were sold at asking, and 45% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 18 Days | -49.1% |
Summary: Homes in Suwanee had an average of 18 days on market in Apr 2024, down by 49.1% compared to last year.
Breakdown of Home Sale Times
100 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 114 homes were sold in Suwanee; 88% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.