This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Lawrenceville, GA, September, 2012, indicate that there were 836 properties on the market, down 65 from last month.  Overall, there was about a 3.1 month supply of properties. In 2011, sales for September were at 243, so 234 sales was a slight decrease, year over year.  Last month’s sales were at 308.  Coupled with the decrease in inventory, things are still looking pretty good.  Normally the market picks up from January through about June-August.  This month we are OK, but some are arguing that constrained inventories are still holding back sales or we would be looking even better.

For Lawrenceville, GA, Homes Under $200k, there are 680 listings, with about a 2.7 month supply of homes.  Sales were down from September, 2011 (218 v 228), although sales may very well be off because of constrained inventories.  Last year in this segment, there were almost 1200 listings v just over 700 now.  This segment is easily the lion’s share of sales for the area.  With the 2.70 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 from 275 in August.

Between $200k and $400k, there are 129 listings for sale, and about 7.2 months of supply. Oddly, this had one of the mid-pack segments in the county, now it’s on the weak side. The 13 sales for September, 2012 edged the 11 from last year, but was walloped by the 29 sales last month. But, we were close to Balanced Market territory here, but have slipped back to Buyer’s Market territory.

From $400k to $600k, there are 18 homes on the market. The absorption rate is around 6.8 months. However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact. There were 3 sales for September, the Absorption Rate has dropped from 78 months last June, through good, but sporadic sales. 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 33 three 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 6 listings, with about 24 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there were 0 sales in September. 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 and 1 in May.

Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. Until this month, there had only been one sale in this range in the last 3 years (Aug, 2010), according to FMLS. But, there was 1 sale in July, but none in August. It was over $1M, if that makes a difference…

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.

Enhanced by Zemanta