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Market stats for Buford, GA, April, 2011 indicate that there were 605 properties on the market. Overall, there was about an 9.3 month supply of properties.  There were 73 sales for April, up from 63 last month and 65 from last April.  It is an impressive comeback from last month’s poor showing.

In the sub-$200k arena, there were 334 listings, with a 7.2 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 (51 v 48), but strong compared to last year (38 sales in Apr. 2010).  Framed in the results for the whole market area, the segment is quite strong.

Between $200k and $400k, there were 209 listings for sale, and about  11.6 months of supply.  The 22 sales recorded were well above the 14 from last month.  But, it was well down from the 28 sales last year for April.  It is among the weaker price/area segments in Gwinnett County, GA.  Of course, if there were a big bump next month…

From $400k to $600k, there were 39 homes on the market. The absorption rate is almost 117 Months (ouch).  This shouldn’t be acting like a high-end luxury segment, but it is.  There has been 1 sale 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 has been weakening for December.

In the $600k to $800k arena, there were 3 listings.  Absorption Rate is 9 months (averaging a sale every three 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 3 homes has made things look less slow… but there have been 4 sales in this segment in the last year… the last was March.

The range from $800k to $1m, there were 7 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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