Market stats for Suwanee, GA, November, 2010 indicate that there are 582 properties on the market. Overall, there is about an 10.9 month supply of properties.  There was less that 8 months of inventory as recently as June.  Even though inventories are down since then, sales are also down.

In the Under $200k arena, there are 156 listings in Suwanee, GA, with about a 8.5 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… October sales were down from 27 last year to 22 this year.  For November, there were 15 sales this year and 21 last year.

Between $200k and $400k, there are 285 listings for sale, and 9.8 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.  For October, sales were down from 53 last year v 31 this year.  November continued the (poor) trend with 26 sales v 41 last year.

From $400k to $600k, there are 75 homes on the market. The absorption rate is at 18.7 months.  There were 4 sales this year… dwarfed by the 10 last year.  Even looking at the three month average, there were 12 sales this year and 26 for the same period last year.

In the $600k to $800k arena, there are 28 listings, with about a 42 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 2…  For the sale time last year, the sales were 9.

The range from $800k to $1m, there are 13 homes listed and approximately 4+ years of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

In Suwanee, GA, Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.  Again, we can thank reduced inventory for making the market look healthier (4 sales in Sept-Nov both this year and last).  But, in this segment, we should be seeing reduced inventories…  There were 45 homes listed in this segment at this time last year.

Suwanee, GA is a suburb of Atlanta in Gwinnett, Forsyth and (just a little bit) in Fulton Counties. The population is 2000 was 8,725, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Money Magazine rated Suwanee in the “Top 10 Best Places to Live” in 2007, and it is one of the wealthiest parts of Georgia. Recently, the City of Suwanee has revamped their old town, adding a large park with a bandshell, condos, town homes and small businesses. It is also home to North Gwinnett High School, Peachtree Ridge and Collins Hill.

I have a page dedicated to Suwanee Market Data.

Related articles

• Suwanee, GA, Market Report, October 2010 (gwinnettgarageguy.com)
• Suwanee, GA, Market Report, September 2010 (gwinnettgarageguy.com)
• Suwanee, GA, Market Report, August 2010 (lanebailey.com)