Is Cumming, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Cumming has remained a Seller's Market.
Housing Prices in Cumming, GA
How much do homes in Cumming, GA cost?
Median Sold Price
$579,499
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cumming was $579,499 in May 2024, up 6.2% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $360K | $224K | -37.8% |
2 Bedrooms | $325K | $350K | +7.7% |
3 Bedrooms | $420K | $457.4K | +8.9% |
4 Bedrooms | $541.5K | $585K | +8.0% |
5+ Bedrooms | $686.6K | $751.2K | +9.4% |
Summary: Cumming housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 37.8%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 9.4%.
Housing Supply in Cumming, GA
How many homes are available in Cumming, GA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,008 | 1,144 | +13.5% |
Summary: The Cumming real estate market had 1,144 homes for sale in May 2024, a 13.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 54 | 58 | +7.4% |
3 Bedrooms | 251 | 286 | +13.9% |
4 Bedrooms | 311 | 357 | +14.8% |
5+ Bedrooms | 389 | 441 | +13.4% |
Summary: The Cumming housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 13.9%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 13.4%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
298 | 252 | -15.4% |
Asking Price vs. Sold Price
90 Homes Were Sold
Under Asking
63 Homes Were Sold
At Asking
92 Homes Were Sold
Over Asking
Summary: A total of 252 homes were sold or pending in Cumming in May 2024, down by 15.4% month-over-month. Of the 245 sold homes, 37% were sold under asking, 26% were sold at asking, and 38% were sold over asking.
Days on Market for Cumming, GA
How long does it take to sell a home in Cumming, GA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 17 Days | -16.5% |
Summary: Homes in Cumming had an average of 17 days on market in May 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
211 Homes Were Sold
Under 30 Days
34 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 252 homes were sold in Cumming; 84% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.