Image by lane.bailey via Flickr
Market stats for Lilburn, February, 2011, indicates that there are 440 properties on the market (as of February 28th). Overall, there is about a 14.3 month supply of properties. Lilburn is actually back of the pack among cities in Gwinnett County. The Absorption Rates had been getting worse since August, but December clocked an improvement from November. January was back to the downward slide. Hopefully we’ll see sales pick up for March to match the increases in inventory.
In the sub-$200k arena, there are 305 listings, with about an 11.6 month supply. This represents most of the sales in the market area. Sales were slightly higher than February 2010 (22 v 19). The Absorption Rate is slightly worse than last year, though (11.5 months of inventory in January, 2010). I really would have liked to have seen an increase in sales for February.
Between $200k and $400k, there are 119 listings for sale, and about 27.5 months of supply. This segment has been quite weak for months. Having 0 sales in December, and only 6 in November didn’t help. Nine sales in January was HUGE. But, February was back down below last year.
From $400k to $600k, there are 12 homes on the market. The absorption rate is over 42 months. There were no sales in this segment in the last three months. With just a few sales, just one or two can make a huge difference. Any improvement is due solely to the reduction in listings.
From $600k to $800k, $800k to $1M and Above $1M, there are 4 listings (combined), but too few sales to have any sort of reliable number of months of inventory. There has been one sale in the last five months, but prior, there had only been a few other sales in 2010 (January, March and August). One of the listings is above $1M (none between $800k and $1M), and there is no market activity in the last 12 months for that range…
Lilburn is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County. It was incorporated in 1910. Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School. Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.
I have a page dedicated to Lilburn Market Data.
Related articles
- Lilburn, GA Market Report, January 2011 (lanebailey.com)
- Lilburn, GA Market Report, December 2010 (lanebailey.com)
- Lilburn, GA Market Report, November 2010 (lanebailey.com)
- Lilburn, GA Market Report, October 2010 (lanebailey.com)
- Interesting Homes Around Lilburn GA (lanebailey.com)
- There is a new City Hall coming to Lilburn, GA… (lilburndwellings.com)
- Flashback Friday… Where in the World is Lilburn? (gwinnettgarageguy.com)
Don’t hesitate to shoot Lane a message if you have any questions, or need any help. And check out the new links for FREE Property Searching, FREE Comparative Market Analysis and FREE Market Reports. They are near the top of the page…
