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Market stats for Buford, GA, March, 2011 indicate that there were 610 properties on the market. Overall, there was about an 12.2 month supply of properties.  March was down substantially, 63 v 84 sales in 2009.  February was exactly the opposite, 60 v 38 sales in 2009.  January was slightly below last year (25 v 28 for 2009).

In the sub-$200k arena, there were 354 listings, with a 9.9 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were up slightly from last month (48 v 41), but pretty flat compared to last year (50 sales in Mar. 2010).

Between $200k and $400k, there were 194 listings for sale, and about  15.3 months of supply.  Last year, March took off compared to February (19 then 32 sales), but this year it was slightly down (18 then 14 sales).  Obviously, March sales were WAY down compared to last year.

From $400k to $600k, there were 31 homes on the market. The absorption rate is almost 18.6 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.  And despite the lower market segments getting better, this one weakened for February.

In the $600k to $800k arena, there were 2 listings.  Absorption Rate is 6 months (averaging a sale every few 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 2 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 6 homes listed. And with only 1 sale in the last year (Feb 10) until last December (2 more), obviously  trends are hardly definable.  At least listings are down by more than compared to a few months ago (9 listings in June).

Above $1m, there were 13 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.

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