Market stats for Lilburn, GA, February, 2012, indicates that there were 358 properties on the market (as of February 29th). Overall, there was about an 7.5 month supply of properties and 43 properties that closed (sold) in February. It was an increase from last year’s sales (26) but a slight decrease from January (46 sales). The Absorption Rate notched down a bit. Lilburn had been among the weakest of Gwinnett County, GA, cities I track. But, at 7.51 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 258 listings, with about an 6.2 month supply with 36 sales. This represents most of the sales in the market area. Sales decreased slightly from last month (46), and were also up dramatically from last year (22). While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m still pulling for a comeback for Lilburn. The track is getting a little better.
Between $200k and $400k, there are 90 listings for sale, and about 15.0 months of supply. This segment had been quite weak for months, and had stalled a little, but came back with a vengeance. There were 7 sales compared to 4 last year. This segment really needs to get back into single digit A/Rs … but, Lilburn has never been seen as a luxury market. But the decrease in listings has really helped. I’m still not as confident about this portion of the Lilburn market coming back quite yet… It is strengthening, just not as quickly as I’d like.
From $400k to $600k, there are just 5 homes on the market. The absorption rate is 7.5 months (one year average). There were 2 sales 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 since. The apparent strength in the A/R isn’t from recent sales as much as from low listing vol
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.
Atlanta Metro Zillow Home Value Index
I have a page dedicated to Lilburn Market Data.
- Lilburn, GA Market Report, January 2012 (lanebailey.com)
- Lilburn, GA Market Report, December 2011 (lanebailey.com)
- Lilburn, GA Market Report, November 2011 (lanebailey.com)
- Lilburn, GA Market Report, October 2011 (lanebailey.com)
- Lilburn, GA Market Report, September 2011 (lanebailey.com)
- Lilburn, GA Market Report, August 2011 (lanebailey.com)
- Lilburn, GA Market Report, June 2011 (lanebailey.com)
- Lilburn, GA Market Report, May 2011 (lanebailey.com)
- Lilburn, GA Market Report, April 2011 (lanebailey.com)
- Lilburn, GA Market Report, March 2011 (lanebailey.com)
- Lilburn, GA Market Report, February 2011 (lanebailey.com)
- Lilburn, GA Market Report, January 2011 (lanebailey.com)
- Wayback Wednesday… The Lilburn CID (lanebailey.com)
- Terra Sol by Pulte near Lilburn (lanebailey.com)
- Lilburn agrees to November vote on Sunday sales (ajc.com)
- Gwinnett County Homestretch… Again… (lanebailey.com)
Don’t hesitate to shoot Lane a message if you have any questions, or need any help. And check out the new links for FREE Property Searching, FREE Comparative Market Analysis and FREE Market Reports. They are near the top of the page…