Dominique Wilkins during Euroleague semifinal ...

Image via Wikipedia

Market stats for Lilburn, GA, June, 2011, indicates that there were 454 properties on the market (as of June 30th). Overall, there was about an 8.5 month supply of properties and 63 properties that closed (sold) in June.  I had been looking for another increase in sales for June and it came through.  And it was an increase over last year’s sales (51) and May, 2011 (54 sales).  The Absorption Rate notched down slightly.  Unfortunately, Lilburn is among the weakest of Gwinnett County, GA, cities I track.

In the sub-$200k arena, there were 309 listings, with about an 7.7 month supply with 48 sales.  This represents most of the sales in the market area.  Sales rose slightly from last month (41), but were more above last year (38).  The Absorption Rate dropped only slightly from 7.9 to 7.7 months of inventory.  This is even a slight improvement over the tax credit fueled buying of this time last year.  If the pace maintains for the next two months, it could mean that Lilburn, GA, is on the verge of a turn.

Between $200k and $400k, there are 132 listings for sale, and about 11.o months of supply.  This segment has been quite weak for months, but has picked up a little strength.  May was a strong follow up to April, which was HUGE… 11 sales compared to just 9 last year.  June pulled down 14 sales, slightly above last year’s 13 homes sold.  If July stays strong (14-15 sales), this could signal a return to a more balanced segment… and Lilburn has been missing that.  (last month I said…) I’ll be looking for around 14 sales for June…  ;^ )

From $400k to $600k, there are just 8 homes on the market. The absorption rate is 6.0 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, and there was 1 sale in June.  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 four months in a row since 2009.

From $600k to $800k, $800k to $1M and Above $1M, there are 5 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 and one between $800k and $1M, and there is no market activity in the last 12 months for those ranges…

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.

Related articles
Enhanced by Zemanta