Market stats for Lilburn, March, 2011, indicates that there were 437 properties on the market (as of March 31st). Overall, there was about an 11.3 month supply of properties and 55 properties that closed (sold) in March. I had been looking for an increase in sales for March and it came through. In March, 2010, there were 34 sales. This year was a major increase.
In the sub-$200k arena, there are 293 listings, with about an 9.7 month supply. This represents most of the sales in the market area. March 2011 sales blew March 2010 out of the water (22 v 19). Again, I was looking for an increase in sales. The decrease in inventory (from last month, not last year) was a nice bonus.
Between $200k and $400k, there are 127 listings for sale, and about 17.3 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. March was strong last year, but a little stronger this year (9 v 8 in 2010). It was a bit of a surprise in this segment.
From $400k to $600k, there are 13 homes on the market. The absorption rate is 19.5 months. There were no sales in this segment from December through February, but there were 2 in March, which really turned the segment around. With just a few sales, just one or two can make a huge difference.
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. March posted the first sale since August, 2010. It was in the $600-$800k range. 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.
- Lilburn, GA Market Report, February 2011 (lanebailey.com)
- 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)
- Wayback Wednesday… The Lilburn CID (lanebailey.com)
- Terra Sol by Pulte near Lilburn (lanebailey.com)