Market stats for Norcross, March, 2010 indicate that there were 336 properties on the market. Overall, there is about a 9¼ month supply of properties, with sales remaining fairly steady…  Last March there were 54 sales, and there were 44 this time around.

In the sub-$200k arena, there were 169 listings, with about 7 months supply.  Sales are down from a year ago in this segment, which is the main driver of sales in this area.

Between $200k and $400k, there were 111 listings for sale, and about 10.4 months of supply.   January was a powerhouse, with 10 sales compared to only 3 in 2009.  But, February was only slightly better, with 11 sales compared to 8 in 2009.  March dropped off ever so slightly… 11 sales in 2010 and 12 in 2009.

From $400k to $600k, there were 46 homes on the market. The absorption rate is around 34½ months. It is much slower than last year and should still be characterized as decelerating…

In the $600k to $800k arena, there were 7 listings on the market. There has been one sale in the last year.  That calculates to a 7 year absorption rate… Not good… there has been one sale in this price range in the last year…

The range from $800k to $1m, there were no homes listed on the market and no sales.

Above $1m, there were 3 properties listed. The current absorption rate indicated 18 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.  There have been two sales in the last year.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census.  The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools.  One of the things that Norcross is known for locally is the beautiful older homes in the downtown area.  They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross Market Data.

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• Norcross, GA Market Report, February 2010 (lanebailey.com)
• Norcross, GA Market Report, January 2010 (gwinnettgarageguy.com)