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Market stats for Lilburn, GA, September, 2011, indicates that there were 427 properties on the market (as of September 30th). Overall, there was about an 8.7 month supply of properties and 44 properties that closed (sold) in September.  It was an increase from last year’s sales (35) and a decrease from August, 2011 (48 sales).  The Absorption Rate notched up slightly, again.  Unfortunately, Lilburn is among the weakest of Gwinnett County, GA, cities I track.  But, at 8.66 months of inventory, it isn’t nearly as bad as it had been just a few months ago (14.35 months of inventory in Feb, 2011, for example).

In the sub-$200k arena, there were 309 listings, with about an 7.7 month supply with 35 sales.  This represents most of the sales in the market area.  Sales decreased slightly from last month (37), and were up  slightly from last year (32).  We are sitting almost exactly where we were last year at this time.  That isn’t a terribly bad thing, although this segment needs to play catch up a little with some other areas of Gwinnett County.

Between $200k and $400k, there are 108 listings for sale, and about 12.5 months of supply.  This segment had been quite weak for months, and has stalled a little.  There were 9 sales compared to just 2 last year.  While it isn’t strong compared to some other areas, it is WAY better than last year at this time.  This segment really needs to get back into single digits… but, Lilburn has never been seen as a luxury market.

From $400k to $600k, there are just 4 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, 1 sale in June, 2 in July and none in August or September.

From $600k to $800k, $800k to $1M and Above $1M, there are 6 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.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Lilburn Market Data.

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