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Market stats for Lilburn, GA, May, 2011, indicates that there were 436 properties on the market (as of May 31st). Overall, there was about an 8.6 month supply of properties and 54 properties that closed (sold) in May.  I had been looking for an increase in sales for May and it came through.  And while April was an increase over last year’s sales (36), it was a decrease from March, 2011 (55 sales).  May, 2011, was up compared to both the previous month and the previous year.  The Absorption Rate notched down significantly.

In the sub-$200k arena, there are 305 listings, with about an 7.9 month supply with 41 sales.  This represents most of the sales in the market area.  Sales rose sharply from last month (32), but were only slightly above last year (40).  The Absorption Rate dropped slightly from 9.6 to 7.9 months of inventory.  This is even an improvement over the tax credit fueled buying of this time last year.

Between $200k and $400k, there are 118 listings for sale, and about 11.4 months of supply.  This segment has been quite weak for months, but has picked up a little strength.  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).  May was a strong follow up to April, which was HUGE… 11 sales compared to just 9 last year.  If June stays strong, this could signal a return to a more balanced segment… and Lilburn has been missing that.  I’ll be looking for around 14 sales for June…

From $400k to $600k, there are just 9 homes on the market. The absorption rate is 5.4 months. There were no sales in this segment from December through February, but there were 2 in March, which really turned the segment around, followed by 1 sale for April.  May posted 2 sales.  It doesn’t seem like much, but this is a segment hasn’t posted that many months with back to back sales…  This is the first time sales have been sales posted three months in a row since 2009.

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.

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