Is Norcross, 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, Norcross has remained a Seller's Market.
Key Takeaway
Norcross is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norcross, GA
How much do homes in Norcross, GA cost?
Median Sold Price
$338,208
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Norcross have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Norcross was $338,208 in May 2024, up 4.2% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $132.7K | $178.7K | +34.7% |
| 2 Bedrooms | $228.5K | $240K | +5.0% |
| 3 Bedrooms | $319K | $335K | +5.0% |
| 4 Bedrooms | $376K | $380K | +1.1% |
| 5+ Bedrooms | $500K | $420K | -16.0% |
Summary: Norcross housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34.7%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 16%.
Median Sold Price Compared To Nearby Cities
| Peachtree Corners | $495.1K | $539.9K | +9.0% |
| Norcross | $324.6K | $338.2K | +4.2% |
Housing Supply in Norcross, GA
How many homes are available in Norcross, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 151 | 139 | -7.9% |
Summary: The Norcross real estate market had 139 homes for sale in May 2024, a 7.9% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 31 | 33 | +6.5% |
| 3 Bedrooms | 72 | 63 | -12.5% |
| 4 Bedrooms | 35 | 35 | 0.0% |
| 5+ Bedrooms | 11 | 7 | -36.4% |
Summary: The Norcross housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 6.5%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 36.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 40 | -28.6% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Norcross, you may be able to get a good deal. 36.8% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Norcross in May 2024, down by 28.6% month-over-month. Of the 38 sold homes, 37% were sold under asking, 29% were sold at asking, and 34% were sold over asking.
Days on Market for Norcross, GA
How long does it take to sell a home in Norcross, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 11 Days | -62.9% |
Summary: Homes in Norcross had an average of 11 days on market in May 2024, down by 62.9% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Norcross are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 40 homes were sold in Norcross; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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