by Lee Sanghyun
Published 24 Apr.2026 14:30(KST)
The real estate market in Gumi, North Gyeongsang Province, is experiencing a reversal in trends. After a period marked by concerns over unsold housing inventory, the market is now warming up, with a series of record-high transactions and sell-outs, particularly in newly built branded complexes with strong locations.
According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system, an 84㎡ exclusive unit at 'Gumi I-Park The Sharp' in Wonpyeong-dong (completed in 2023) was traded at 655 million won (41st floor) in December last year, setting a new all-time high for that size. Similarly, an 84㎡ exclusive unit at 'Munseong Lake Xi' in Munseong-ri, Goaeup (completed in 2021) was sold at 525 million won (17th floor) in April this year, also recording a new high. This demonstrates the solid price resilience of highly sought-after complexes in the region.
Additionally, 'Doosan We've the Zenith Gumi' in Gwangpyeong-dong, which was offered for sale in October last year, attracted a total of 2,592 applicants for 261 units, achieving an average competition ratio of 9.93 to 1, and eventually sold out completely.
This recovery trend is closely aligned with the steep decline in unsold inventory. According to data from the Ministry of Data and Statistics, the number of unsold homes in Gumi dropped from 1,942 in February 2024 to 890 as of February 2026, falling to less than half in just two years. As concerns over oversupply in the market have eased, genuine buyers are now becoming more active.
Experts predict that the imbalance in new housing supply in Gumi will further enhance the market’s value going forward. Over the past 10 years, the city’s annual average number of new units offered for sale has been around 2,345. Last year, 4,112 units were supplied, but more than 66% (2,740 units) were private rentals, and only two complexes were available for general sale. With limited supply expected again this year, the scarcity of high-quality complexes is likely to persist.
An industry insider commented, "The Gumi real estate market has shown a clear recovery, with unsold inventory accumulated over the past few years rapidly being absorbed and prices rebounding, especially in newly built branded complexes. In particular, as major complexes in preferred residential areas have already recovered or surpassed their previous peaks, interest from genuine buyers in new branded complexes with both locational advantages and residential comfort is expected to continue for the time being."
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