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).

Market stats for Buford, GA, March, 2010 indicate that there were 644 properties on the market. Overall, there was about an 10.3 month supply of properties.  Sales, while up for March, dropped for April, both compared to March and compared to the same month last year.

In the sub-$200k arena, there were 272 listings, with a 8.3 month supply.  The 50 sales in this segment in March were VERY strong compared to 30 for March 2009 and 16 for February.  I expected a similarly strong showing for April, but sales came in at 32… down significantly.

Between $200k and $400k, there were 296 listings for sale, and about  11.2 months of supply.  In December, we were seeing accelerating sales.  January saw sales cut in half… and then they were slightly up for February.  March rocked…  April was slower, but still better than 2009.

From $400k to $600k, there were 46 homes on the market. The absorption rate is around 15.3 months.  For the Jan-Mar period, sales dropped from 7 a year ago to 4 this year.  Not each month, combined…  But April kicked in 5 sales.  While down slightly from last year’s 6 sales, it is still the best showing in a few months.

In the $600k to $800k arena, there were 9 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 9 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 7 homes listed and approximately 21 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 14 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 13…

I have a page dedicated to Buford Market Data.

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• Buford, GA Market Report – March 2010 (lanebailey.com)
• Buford Market Report – February, 2010 (lanebailey.com)