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Market stats for Lawrenceville, GA, October, 2011, indicate that there were 1346 properties on the market.  Overall, there was about a 5.2 month supply of properties. In 2010, sales for October were at 154, so 263 sales was a pretty good increase, year over year.  Coupled with the decrease in inventory, things are looking great.  Normally they start weakening in September, but we are rolling right along… even more than last month… but just slightly.

For Lawrenceville, GA, Homes Under $200k, there are 1133 listings, with about a 4.7 month supply of homes.  Sales were way up from October 2010 (228 v 138).  This segment is easily the lion’s share of sales for the area.  With the 4.69 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.  Last month I was hoping that October would be a follow up… and it VERY much is what I was looking for.

Between $200k and $400k, there are 184 listings for sale, and about 12.3 months of supply.  Oddly, this was one of the weaker segments in the county, again.  With as strong as the segment down was, this one was weak, again.  The 15 sales for October, 2011 were down from the 16 from last year.  Sales should have been closer to 25 units for October.  We are still solidly in Buyer’s Market territory here.

From $400k to $600k, there are 22 homes on the market.  The absorption rate is around 16.5 months.  However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  August saw no sales and September only had 3, so even though there were 1 sale for October, the Absorption Rate has dropped from 78 months in June.  There were 0 sales in October, 2010.  This is acting like a luxury market and the A/R is jumping all over the place… with just a few sales.  While the long term trend is looking better, it is still pretty choppy.

In the $600k to $800k arena, there are 6 listings, with about 18 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.  This is one of the few segments I track anywhere in the county to have an increase in the number of listings. 

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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