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Market stats for Lawrenceville, GA, September, 2011, indicate that there were 1412 properties on the market. Overall, there was about a 5.5 month supply of properties. In 2010, sales for September were at 163, so 243 sales was a pretty good increase, year over year. Coupled with the solid decrease in inventory, things are looking great. Normally they start weakening in September, but we are rolling right along… slightly less than last month… but just slightly.

For Lawrenceville, GA, Homes Under $200k, there are 1194 listings, with about an 5.0 month supply of homes. Sales were way up from September 2010 (228 v 151). This segment is easily the lion’s share of sales for the area.  With the 5.02 month A/R, it is solidly in Seller’s Market territory.  The big drop in Absorption Rate (AR) is due to strong sales, coupled with slightly lower inventories.  I got one strong follow up… if we can keep it up for October, I will be a happy guy.

Between $200k and $400k, there are 188 listings for sale, and about 12.8 months of supply. Oddly, this was one of the weaker segments in the county, again. With an strong at the segment down was, this one was weak, again.  The 11 sales for September, 2011 were down from the 12 from last year. Sales should have been closer to 25 units for September.  We are still solidly in Buyer’s Market territory here.

From $400k to $600k, there are 24 homes on the market. The absorption rate is around 9 months. However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  July saw 5 sales and August saw none, so even though there were 3 sales for September, the Absorption Rate has dropped from 78 months in June.  There were 0 sales in September, 2010.

In the $600k to $800k arena, there are 5 listings, with about 7.5 months of supply.  As with the next lower priced segment, a couple of sales makes a big difference and there were only 2 sales in the last three months.  The only saving grace is low inventory. 

Between $800k and $1M, and Above $1M there is 1 home 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 3 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.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Lawrenceville Market Data.

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