Market stats for Lawrenceville, April, 2011, indicate that there are 1576 properties on the market. Overall, there is about a 7.6 month supply of properties. In 2010, sales for April were at 216, so 229 sales isn’t much of an increase, year over year. But, coupled with the recent decrease in inventory, things are looking up. However, there were 239 sales in March, 2011, so that makes the 229 seem like a giant step backwards. Normally at this time of year, we are seeing healthy increases in month to month sales.
For Lawrenceville, GA, Homes Under $200k, there are 1343 listings, with about an 7.1 month supply of homes. Sales were way up from April 2010 (209 v 186). This segment is easily the lion’s share of sales for the area. Last month this was one of the strongest price/area segments in Gwinnett County, but this month it is just mid-pack. The big drop in Absorption Rate (AR) is more due to lower inventory than strong sales.
Between $200k and $400k, there are 204 listings for sale, and about 13.3 months of supply. Oddly, this was one of the weakest segments in the county. The 20 sales for April, 2011 were WAY down from the 29 from March last year. Ditto for February and March… so April is the second weak month in a row here.
From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months. However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact. Case in point is that we went from a 12 month AR to a 22 month AR because of a lack of sales for last month. Just 4 months ago there was 87 months of inventory, though…
- In the $600k to $800k arena, there are 4 listings, with about 12 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there was only 1 sale in the last three months. I was looking for 2 sales in April… and there were none. Even with the inventory drop from 6 to 4 listings, the AR doubled.
Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. There has only been one sale in this range in the last 2 years (Aug, 2010), according to FMLS.
Lawrenceville is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 22,937 people in Lawrenceville, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County (2008 estimates from the Census Bureau peg population around 29,000). It was incorporated in 1821. Lawrenceville is home to Central Gwinnett High School, and also has students that the Mountain View and Archer clusters. It is also home to Gwinnett Technical College and Georgia Gwinnett College. Another recent addition to Lawrenceville is that it is home to the Gwinnett Braves, playing at the Gwinnett Stadium on GA20 between I-85 and GA316. Possibly the most famous resident of Lawrenceville was Oliver Hardy. As a small boy he lived in Lawrenceville with his parents for a short time. Lawrenceville was also home to Junior Samples. Some of its other residents included Jeff Francouer, Brian McCann and Jennifer Ferrin.
I have a page dedicated to Lawrenceville Market Data.
- Lawrenceville, GA Market Report, March 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, February 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, January 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, December 2010 (lanebailey.com)
- Lawrenceville, GA Market Report, November 2010 (lanebailey.com)
- Lawrenceville, GA Market Report, October 2010 (lanebailey.com)
- I’m Always Up For a Good Surprise.. (lanebailey.com)
- Gwinnett County Public Schools Making Changes… (lanebailey.com)