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Market stats for Lawrenceville, May, 2011, indicate that there are 1573 properties on the market. Overall, there is about a 6.5 month supply of properties. In 2010, sales for May were at 215, so 262 sales is a pretty good increase, year over year.  Coupled with the slight decrease in inventory, things are looking up.  Normally at this time of year we should be seeing healthy increases in month to month sales.

For Lawrenceville, GA, Homes Under $200k, there are 1340 listings, with about an 6 month supply of homes.  Sales were way up from May 2010 (246 v 194).  This segment is easily the lion’s share of sales for the area.  Last month this was just a mid-pack price/area segment in Gwinnett County, but this month it is one of the strongest.  The big drop in Absorption Rate (AR) is due to strong sales, coupled with slightly lower inventories.

Between $200k and $400k, there are 198 listings for sale, and about 11.4 months of supply.  Oddly, this was one of the weakest segments in the county.  The 16 sales for May, 2011 were down from the 20 from May last year.  Sales should have been closer to 30 units for May, and I’d like to see over 30 for June.

From $400k to $600k, there are 28 homes on the market. The absorption rate is around 42 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 42 month AR because of a lack of sales for the last 2 months.  Just 5 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 May… and there were none.  It has been quite a while since sales were strong here… the only saving grace is low inventory.

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.

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