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Author Archives: Lane Bailey

The Gwinnett County Market is a Little Weird Right Now…

Thursday, 09 June 2011 08:46
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Image by lane.bailey via Flickr

I have been pulling Gwinnett County Real Estate Market Data, and I’m not done with it yet.  But, I have been seeing a few things.

  • Listings are down markedly from where they would normally be.  This can be either a positive or negative, depending on your outlook.
    • On the Plus Side, fewer listings means that Absorption Rates are better.  There is less inventory to get sold… it tilts the table back toward sellers.  It has been largely tilted toward buyers for quite a while.
    • On the Minus Side, it shows that there is pessimism in the market on the side of sellers.  They aren’t confident about the market.  That lack of confidence has carried over to buyers… sales are also slowing.
  • Sales are down… like I just mentioned.  Even though Absorption Rates make the market look better… the sales just aren’t there.
  • Results are mixed.  There are a few cities that are doing well… and there are a few price segments that are doing quite well.  Others are VERY weak.
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Wayback Wednesday… A Little Hockey in My Life…

Wednesday, 08 June 2011 08:26
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My older son LOVES to play ice hockey.  And all year long, the events he looks forward to most are the Come And Get It Hockey Camps.  He skates one in June and one in July.

The guy responsible for running the CAGI Camp is Dan Sullivan, formerly of the Gwinnett Gladiators.  Coach Sully (as the kids call him) is a heck of a guy and runs a GREAT camp.  It really is a family affair, too.  Dan’s brother and sister are involved, and his wife Liz is there every day checking the kids in and making sure everything off the ice runs smoothly.

This is my son’s 3rd year at the camp… and he’s only 7 years old.  He skated his first camp when he was just 5.  There is a core group of youngsters that all started skating at the same time and they still enjoy getting on the ice together.  Now though, there are even younger players coming up behind them.

There are a lot of unique things about CAGI Hockey (like that parents can drop their kids off all day and food is provided), but my favorite is the level of instruction the kids get.  The instructors are guys that played (or still play)  professional and college hockey.  Of course, it goes a little deeper than that…  The instructors really work with the kids.  They get to know them, eat with them, play with them and mentor them.

Even though I could drop off my son and leave him for the day, I like to hang out and watch the kids skate.  I’ve gotten to know the coaches and some of their families.  I have been blessed to get to know some of the other parents, too.  And best of all, I have gotten to know some pretty cool and special kids that have skated at the camp.

Here is the post from 2 years ago… when I wrapped up the first camp.

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Norcross, GA, Market Report, April 2011

Tuesday, 07 June 2011 08:52
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Market stats for Norcross GA, April, 2011 indicate that there were 384 properties on the market. Overall, there is about a 7.6 month supply of properties. January was a powerhouse…  February continued the trend, although not quite as powerful.  March was a breakout month.  April saw 49 sales, short of the 59 for March and short of the 52 for last April, but with the decrease in listing inventory the Absorption Rate (AR) still built strength.  This is one of the few market areas in Gwinnett to post four strong months in a row.

In the sub-$200k arena, there were 217 listings, with about 5.5 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (44 v 32).  Last month, the AR was in the range of balanced… it got a little better this month.  This looks like the strongest price/area segment in Gwinnett County, GA.

Between $200k and $400k, there were 130 listings for sale, and about 19.5 months of supply.  As strong as the under $200k segment is… this one is that weak.  The 3 sales were a considerable drop from last month’s 10 sales and last year’s 15 sales.  Of course, this segment has always seemed to lag.

From $400k to $600k, there were 32 homes on the market. The absorption rate is around 8.7 months.  The Absorption Rate has been dropping for 5 months.  This is odd considering the performance of the next segment down, but totally in line with the <$200k segment.  April’s 2 sales are down from 5 the month before, and doesn’t compare favorable to last year’s 4 sales… but the inventory decrease really helped.

In the $600k to $800k arena, there was 1 listing on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate is at 3 months of inventory… but with only 4 sales last year and then the sale in March, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there is only 1 listing.  Only.

The range from $800k to $1m, there was 1 homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  The single sale in January (first since October) has pushed the Absorption Rate down to 18 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross Market Data.

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Buford, GA, Market Report, April 2011

Thursday, 02 June 2011 08:31
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Market stats for Buford, GA, April, 2011 indicate that there were 605 properties on the market. Overall, there was about an 9.3 month supply of properties.  There were 73 sales for April, up from 63 last month and 65 from last April.  It is an impressive comeback from last month’s poor showing.

In the sub-$200k arena, there were 334 listings, with a 7.2 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were up slightly from last month (51 v 48), but strong compared to last year (38 sales in Apr. 2010).  Framed in the results for the whole market area, the segment is quite strong.

Between $200k and $400k, there were 209 listings for sale, and about  11.6 months of supply.  The 22 sales recorded were well above the 14 from last month.  But, it was well down from the 28 sales last year for April.  It is among the weaker price/area segments in Gwinnett County, GA.  Of course, if there were a big bump next month…

From $400k to $600k, there were 39 homes on the market. The absorption rate is almost 117 Months (ouch).  This shouldn’t be acting like a high-end luxury segment, but it is.  There has been 1 sale in the last 3 months.  When the market is rolling, there should be 5-7 sales a month during this part of the year.  And despite the lower market segments getting better, this one has been weakening for December.

In the $600k to $800k arena, there were 3 listings.  Absorption Rate is 9 months (averaging a sale every three months)… but it jumps around a lot.  Sales in this range are pretty sporadic, but steady when looking at the long-term.  The drop in inventory over the last few months from 14 homes to 3 homes has made things look less slow… but there have been 4 sales in this segment in the last year… the last was March.

The range from $800k to $1m, there were 7 homes listed. And with only 1 sale in the last year (Feb 10) until last December (2 more), obviously  trends are hardly definable.  At least listings are down by more than compared to a few months ago (9 listings in June).

Above $1m, there were 13 properties listed.  The last sale in the segment was in April… of 2009… still…

Buford, GA is a suburb of Atlanta in Gwinnett and Hall Counties. The population is 2000 was 10,668, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Buford is home to Lake Lanier, one of Georgia’s premiere recreational areas, and Lake Lanier Islands.  Recently, the City of Buford has revamped their old town. It is also home to Buford (Buford City Schools aren’t a part of Gwinnett County Schools), Mill Creek, Mountain View and Lanier High School (Lanier will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

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Sugar Hill, GA, Market Report, April 2011

Tuesday, 31 May 2011 08:11
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Market stats for Sugar Hill, GA , April, 2011 indicate that there are 236 properties on the market. Overall, there is about an 12.2 month supply of properties.  There were 20 sales, compared to 23 last month and 24 last April.  The Absorption Rate (AR) dropped, but that is largely due to the reduction in active listings and the fact that a month with 15 sales dropped off.

For Sugar Hill homes priced under $200k, there are 164 listings, with under 10.7 months supply.  There were 17 sales this April the same number last year for the same time.  Last month there were 15 sales.  Inventories have been rising steadily, until dropping this month.  Normally, this time of year we see inventories ramping up.  Sales have been flat or slightly down.

Sugar Hill Listings between $200k and $400k, there are 62 listings for sale, and about 15.5 months of supply.  Last May there was only a 6.75 month supply.  This segment really took a beating.  It is also one of the few price/area segments that had an increase in listings and an increase in the Absorption Rate (AR).  Last April there were 7 sales, this year there were 3.  Last month had 8.

For listings in the $400k to $600k range, there are 7 homes on the market. The absorption rate is around 28 months, but with 1 sale 8 months ago, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There were only 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.  I hope to see some activity in this segment in May.

In the $600k to $800k, $800k to $1m and Above $1m (combined), the sales are too inconsistent to have a solid read on, but there are only 3 homes listed for sale in that price range.  No sales have been recorded in the last 2+ years.

Sugar Hill, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 11,399, but that only included the area inside the city limits.  The name comes from a bag of Sugar that spilled on a hill while in transit between Cumming and the railroad in Buford.  And while it is actually a big market, it is in the shadows of Lawrenceville, Duluth and Suwanee… which all are nearby.  That also makes it a great location, as it is close to everything that Gwinnett County, GA has to offer.

I have a page dedicated to Sugar Hill Market Data.

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