DSCN0571

Image by lane.bailey via Flickr

Market stats for Sugar Hill, GA , December, 2010 indicate that there are 232 properties on the market. Overall, there is about an 12.7 month supply of properties.  Sales have been fairly steady since July (aside from a bump in December), but inventories were rising, and along with it, the number of months of inventory (that is the wrong way…).  January had an odd drop in inventory this year.

for Sugar Hill homes priced under $200k, there are 169 listings, with under 10.8 months supply.  There were 12 sales this January, versus 11 last year for the same time.  And December had a nice bump in sales, at 25 homes.  That really cranks the 3 month numbers to look better than they really may be.

Sugar Hill Listings between $200k and $400k, there are 53 listings for sale, and about 14.5 months of supply.  As recently as May, there was only a 6.75 month supply.  This segment really took a beating.  It had a slight bump in November, but drove off a cliff in December.  There were only 3 sales v 11 last year.  January pulled out 3 more sales, which isn’t terrible compared to 5 last year, but the decrease in listings is why this segment looks stronger.

For listings in the $400k to $600k range, there are 6 homes on the market. The absorption rate is around 36 months, but with 1 sale in the last 6 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.

In the $600k to $800k, $800k to $1m and Above $1m (combined), the sales are too inconsistent to have a solid read on, but there are only 4 homes listed for sale in that price range.  No sales have been recorded in the last 18 months or so.

Sugar Hill, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 11,399, but that only included the area inside the city limits.  The name comes from a bag of Sugar that spilled on a hill while in transit between Cumming and the railroad in Buford.  And while it is actually a big market, it is in the shadows of Lawrenceville, Duluth and Suwanee… which all are nearby.  That also makes it a great location, as it is close to everything that Gwinnett County, GA has to offer.

I have a page dedicated to Sugar Hill Market Data.

Enhanced by Zemanta