Market stats for Buford, February, 2010 indicate that there were 609 properties on the market. Overall, there was about an 15.5 month supply of properties, with sales slowing.  Oct/Nov were up dramatically, Dec was steady and January was down dramatically from last year.  February was down even more.

In the sub-$200k arena, there were 250 listings, with over 11.4 months supply.  Sales are definately slowing, with Absorption Rates moving out of the 5s to the 11s in the last couple of months.

Between $200k and $400k, there were 287 listings for sale, and just over 18 months of supply.  In December, we were seeing accelerating sales.  January saw sales cut in half… and then they were slightly up for February.

From $400k to $600k, there were 49 homes on the market. The absorption rate is around 37 months.  For the Dec-Feb period, sales dropped from 8 a year ago to 4 this year.  Not each month, but total…

In the $600k to $800k arena, there were 7 listings.  Sales in this range are pretty sporadic, but steady when looking at the long-term.  The drop in inventory over the last few months from 16 homes to 8 homes have made things look less slow… but there haven’t been any sales in this segment since November.

The range from $800k to $1m, there were 5 homes listed and approximately 15 months of inventory on the market. But with only three sales in the last year, that number can bounce pretty wildly.

Above $1m, there were 11 properties listed. The current absorption rate indicated 11 years of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.  There has only been 1 sale in the last year…

Buford, GA is a suburb of Atlanta in Gwinnett and Hall Counties. The population is 2000 was 10,668, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Buford is home to Lake Lanier, one of Georgia’s premiere recreational areas, and Lake Lanier Islands.  Recently, the City of Buford has revamped their old town. It is also home to Buford (Buford City Schools aren’t a part of Gwinnett County Schools), Mill Creek, Mountain View and Lanier High School (Lanier will open for the 2010-11 school year).

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