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Market stats for Lawrenceville, GA, January, 2012, indicate that there were 1151 properties on the market.  Overall, there was about a 4.9 month supply of properties.  In 2011, sales for January were at 148, so 213 sales was a excellent 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… but not quite better than last month (264 sales).

For Lawrenceville, GA, Homes Under $200k, there are 983 listings, with about a 4.4 month supply of homes.  Sales were way up from January 2011 (205 v 121).  This segment is easily the lion’s share of sales for the area.  With the 4.41 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 lower listing inventories.  Month over month sales were down from 247 in December.

Between $200k and $400k, there are 147 listings for sale, and about 12.3 months of supply.  Oddly, this had one of the weaker segments in the county, now it’s mid-pack.  The 7 sales for January, 2012 were down from the 18 from last year.  They were down significantly from the 16 sales last month.  Sales should have been closer to 20 units for January.  We are still solidly in Buyer’s Market territory here.

From $400k to $600k, there are 17 homes on the market.  The absorption rate is around 12.8 months.  However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  There were 0 sales for January, the Absorption Rate has dropped from 78 months in June, through good, but sporadic sales.  There were 2 sales in January, 2011.  This is acting like a luxury market and the A/R is jumping all over the place… with just a few sales (A/R was 7.1 two months ago).  While the long term trend was looking better, now it is still pretty choppy.

In the $600k to $800k arena, there are 4 listings, with about 6.0 months of supply, again. As with the next lower priced segment, a couple of sales makes a big difference and there was only 1 sale in January. There were only 6 sales at this level in all of 2011, 2 of them were last January.  There was 1 sale last month.

Between $800k and $1M, and Above $1M there are 0 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 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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