26 new real estate properties in Cumming, Georgia have been added to Ofirio in the last 7 days.
Of those new properties:
Cumming, Georgia has a low demand for real estate. This is determined by the difference between the list price and the closed price, which on average is 2% lower than than the list price. The demand for luxury real estate is higher than the demand for “Under $200k” real estate by 6%. Homes in Cumming, Georgia are on the market for 87 days, on average among all of our listings.
This week the following real estate properties became available for sale:
The biggest change in price is in the 5 Beds segment and it is 125% ($163,787) more than the week prior.
The average closing price for real estate in Cumming Georgia has grown by 5% from the last week, which amounted to $690,151.
As of January 2023 Cumming, GA is a seller market which means homes sell faster at a higher price. In January 2023, 20 homes (29.0%) sold at asking price, 45 homes (65.2%) sold below asking price, and 4 homes (5.8%) were sold above asking price. If purchasing a home there is little room to negotiate the price.
The median home price increased by 0.8% from $471,000 in January 2022 to $475,000 in January 2023. The number of homes sold in Cumming, GA has decreased by 44.5% over the last year from 119 in January 2022 to 66 homes in January 2023.
Homes in Cumming, GA have sold for 2.2% more per ft² than they did a year ago. As of January 2023 the average price per square foot is $196.
The cheapest homes for sale in Cumming, GA tend to be on the south side. However, there are a couple of affordable homes sprinkled in on the north side of the city.
Cumming real estate is very expensive when compared to both the state and National average. The average home cost is around $453,000. Though, it is not uncommon to find houses that reach the millions.
On the east side of the city, in particular, there are a lot of lakefront properties which typically range from $500,000 to almost 3 million.
Home prices have been slowly dropping in Cumming over the last year. Considering that Cumming’s economy is slowly growing, it is possible that housing costs may begin to rise again as more and more individuals move to Cumming looking for economic opportunities.
If you love the lake and are willing to pay more for a house, then a house along Lake Sidney Lanier in the east will be ideal. Cumming real estate in this area is a lot more expensive and it is not uncommon for a house to be listed in the millions.
For those looking for something more affordable, the south side of the city is a good place to look around Big Creek.
Homes around Downtown Cumming can also be a good option with easy access to a more urbanized area.
If you want a house out in a more wooded area, then the northwestern side of the city is a great place to look with there being many parks in that area.
Overall, Cumming has a variety of housing types and areas to live in whether you’re looking for a more urbanized or rural area.
Homes for sale in Cumming, GA are not cheap. In fact, they cost a lot more than the national average. This is even more surprising considering that Georgia is known to have cheap housing that tends to be a lot lower than the US average.
Cumming is located in a prime spot just 41 miles away from Atlanta and positioned right by Lake Sidney Lanier.
As a result, Cumming has become a prime place to find lake-front property along with property surrounded by beautiful parks.
Cumming is also known to be a great place for outdoor activities such as golfing, camping, fishing, hiking, and more.
It should also be noted that individuals in Cumming tend to make anywhere from $60,000 to $80,000 a year on average making the area more affluent.
Overall, while Cumming is a beautiful place to live with a lot of prime real estate, it is also very expensive and by no means “cheap.”
On average, South Carolina tends to be a more affordable place to live than Georgia. Housing costs in South Carolina are way below the national average and more affordable than Georgia’s—which is also below the national average.
Food costs are around the same in both states with Georgia being slightly more affordable. Health care is a bit more expensive in South Carolina than in Georgia.
Utility costs are also around the same in both states with Georgia having slightly lower utility costs.
When it comes to transportation, South Carolina has significantly lower transportation costs than Georgia.
Overall, South Carolina is generally a cheaper place to live in than Georgia.
There are many great places in Cumming that are widely known with Lake Lanier being one of the top destinations. There is plenty to do on the lake from kayaking to swimming. There is also a nearby water park/tubing park depending on the season called: “Margaritaville at Janier Islands.”
There is also a place called “Ice Skating at The Ice” which has become one of the favorite winter destinations of the locals.
There are many parks throughout Cumming such as Mary Alice Park which is a great place to grill out or have a picnic. If you want to take a hike, then Caney Creek Preserve is a great place to do so and also has a dog park.
Sawnee Mountain Preserve is also one of the best places to go hiking with over 11 miles of hiking trails spanning over 960 acres.
Coal Mountain is one of the more well-known parks in the area for kids as it has a playground and sports fields.
There are also many specialty restaurants in the city such as Dutch Monkey Doughnuts known for having the best handmade doughnuts in the area. Lake Burrito is an authentic Mexican restaurant and close by is a cafe called, “Malvi” known for serving ice cream and other uncommon foods with their coffee.
Cumming is a safe place to live, having lower crime rates than Georgia and the national average. The city is a more affluent area and has less than 10,000 residents and takes up an area of around 6.1 square miles.