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Market stats for Lawrenceville, GA, May, 2012, indicate that there were 1046 properties on the market.  Overall, there was about a 3.9 month supply of properties.  In 2011, sales for May were at 262, so 267 sales was a solid increase, year over year.  Last month’s sales were at 256.  Coupled with the decrease in inventory, things are looking pretty good.  Normally the market picks up from January through about June-August.  This month we are rocking, in fact, some are arguing that constrained inventories are holding back sales or we would be looking even better.

For Lawrenceville, GA, Homes Under $200k, there are 870 listings, with about a 3.6 month supply of homes.  Sales were well down from May, 2011 (235 v 246), although sales may very well be down because of constrained inventories.  Last year in this segment, there were 1340 listings v the 870 now.  This segment is easily the lion’s share of sales for the area.  With the 3.57 month A/R, it is solidly in Seller’s Market territory.  The low Absorption Rate (AR) is due to very strong sales, coupled with dramatically lower listing inventories.  Month over month sales were down, though, from 237 in April.

Between $200k and $400k, there are 148 listings for sale, and about 7.1 months of supply.  Oddly, this had one of the weaker segments in the county, now it’s mid-pack.  The 31 sales for May, 2012 were WAY up from the 16 from last year.  They were also well up from the 18 sales last month.  But, we are still slightly in Buyer’s Market territory here.

From $400k to $600k, there are 23 homes on the market (big jump from the 16 last month).  The absorption rate is around 34.5 months (also a big jump from the 12 last month).  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 May, the Absorption Rate has dropped from 78 months last June, through good, but sporadic sales.  There were 0 sales in May, 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 five months ago).  While the long term trend was looking a little better, now it is still pretty choppy.

In the $600k to $800k arena, there are 3 listings, with about 9.0 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there was 1 sale in May. There were only 6 sales at this level in all of 2011, 2 of them were last January. There was 1 sale in January 2012.

Between $800k and $1M, and Above $1M there are 2 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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