Preliminary stats for Duluth, September, 2010 indicated that there were 588 properties on the market. Overall, there is about an 9.9 month supply of properties.  Months of Inventory has been increasing for the last couple of months.  Sales in September were 38, compared to 63 a year earlier.

In the sub-$200k arena, there were 226 listings, with about a 10.6 month supply.  The Absorption Rate had gotten down into the high 4 month realm… and as recent as December, was in the low 5s.  In May, it was at 7.9 months and has been rising since, markedly in the last couple of months.

Between $200k and $400k, there are 165 listings for sale, and about 9.2 months of supply.  Sales decreased from 17 in 2009 to 9 in 2010.  That is a big decrease compared to previous months.  Inventory has been sliding downward, too.

From $400k to $600k, there were 62 homes on the market. The absorption rate was around 6.9 months.  While sales haven’t been super strong, they haven’t been bad for this price segment.  I keep looking back at the 5.65 month absorption rate in December… but this is still among the best performing segments in Gwinnett County.

In the $600k to $800k arena, there were 51 listings, with about 8.1 months of supply.  This is amazingly strong for this price level.  However, sales were 0 for September, 2010 v 4 last year.  But, the three months of Jun-Aug 2010 were 26 v 10 last year.  At this level, that is huge.

The range from $800k to $1m, there were 28 homes listed and approximately 16.8 months of inventory on the market.  Continuously falling inventories and increased sales are fueling the increasingly favorable Absorption Rate (it was 67.5 months in February)

Above $1m, there were 56 properties listed. The current absorption rate indicated about 18.7 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  There were 9 sales in the Jul-Sep period this year, and 11 sales for the same time last year… but inventories have been dropping.

Duluth, GA is a suburb of Atlanta, in the heart of Gwinnett County. It actually straddles the county line and has unincorporated portions in South Forsyth County. The population of Duluth is estimated as about 26,000 people as of 2008, but this doesn’t include unincorporated areas outside the city limits, but with a Duluth mailing address. It is also home to Sugarloaf Country Club, a PGA stop until recently.  Forbes Magazine rated Duluth 26th in their nationwide survey of the best places to move, and it is one of the wealthiest parts of Georgia.  It is also home to the Arena at Gwinnett Center (Home of the ECHL Gwinnett Gladiators) and the Atlanta Thrashers practice facility (the Duluth Ice Forum). There is a LONG list of celebrities and athletes that call Duluth home, largely because of the country clubs and proximity to Atlanta.

I have a page dedicated to Duluth Market Information.

Related articles

• Duluth, GA, Market Report, August 2010 (lanebailey.com)