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Market stats for Buford, GA, January, 2011 indicate that there were 601 properties on the market. Overall, there was about an 13.8 month supply of properties.  December was slightly above last year (62 v 52 for 2009).  But it was also a pretty substantial bump from November (44 sales).  January was down slightly from a year earlier (25 v 28 sales).  There were 83 sales in June and an Absorption Rate under 8.5 months.

In the sub-$200k arena, there were 346 listings, with a 11.8 month supply.  Again, this is the largest price segment in this area, so weakness here equals weakness across the market area.  Sales were down substantially from last month (18 v 41), but pretty flat compared to last year (19 sales in Jan. 2010).  Let’s see what February does.

Between $200k and $400k, there were 202 listings for sale, and about  17.3 months of supply.  As with many other segments, January was well below December.  With just 6 sales this year, it was below December’s 16 as well as last January’s 9.  Inventory dropped for February, let’s see if sales can get better.

From $400k to $600k, there were 29 homes on the market. The absorption rate is almost 17.4 Months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There have been 5 sales in the last 3 months.  When the market is rolling, there should be 5-7 sales a month during this part of the year.

In the $600k to $800k arena, there were 6 listings.  Absorption Rate is 18 months… but it jumps around a lot.  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 14 homes to 7 homes has made things look less slow… but there have been 3 sales in this segment last year… the last was this past November.

The range from $800k to $1m, there were 4 homes listed. And with only 1 sale in the last year (Feb 10) until last month (2 more), obviously  trends are hardly definable.  At least listings are down by more than 50% compared to a few months ago (9 listings in June).

Above $1m, there were 14 properties listed.  The last sale in the segment was in April… of 2009… still…

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).

I have a page dedicated to Buford Market Data.Related article

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