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Lawrenceville, GA Market Report, September 2013

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Market stats for Lawrenceville, GA, September, 2013, indicate that there were 680 properties on the market, up 15 from last month. Overall, there was about a 3.3 month supply of properties. In 2012, sales for September were at 234, so 203 sales was a decrease, year over year. Last month’s sales were at 207. But, coupled with the decrease in inventory, things are still looking reasonably good. Normally the market picks up from January-February through about June-August. This month we are OK, but some are arguing that constrained inventories are still holding back sales or we could be looking even better.

English: Gwinnett County Historic Courthouse, ...

English: Gwinnett County Historic Courthouse, Lawrenceville GA (Photo credit: Wikipedia)

For Lawrenceville, GA, Homes Under $200k, there are 449 listings, with about a 2.7 month supply of homes. Sales were down from September, 2012 (172 v 218), although sales may very well be off because of constrained inventories. Last year in this segment, there were almost 700 listings v under 450 now. This segment is easily the lion’s share of sales for the area. With the 2.67 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 up from 171 last month.

Between $200k and $400k, there are 201 listings for sale, and about 5.7 months of supply. Oddly, this had one of the mid-pack segments in the county, now it’s on the weak side. The 30 sales for September, 2013 was under the 33 from last month, but a bit better than the 13 sales last year. We are barely into Seller’s Market territory here… again. Month to month there is a lot of volatility, but over the longer term, it is WAY better than it had been.

From $400k to $600k, there are 23 homes on the market. The absorption rate is around 8.6 months. However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact. There was 1 sales for September, the Absorption Rate has dropped from 78 months June11, 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 25.5 six 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 5 listings, with about 15 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. There were 4 sales in 2012. May and July booked the only previous sales so far in 2013.

Between $800k and $1M, and Above $1M there are 2 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 12. It was over $1M, if that makes a difference…

 

English: A view of the Aurora Theatre from Pik...

English: A view of the Aurora Theatre from Pike Street in Lawrenceville Georgia. (Photo credit: Wikipedia)

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.

 

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Buford, GA, Market Report, September 2013

Gwinnett County Georgia Buford
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Market stats for Buford, GA, Sept, 2013 indicate that there were 334 properties on the market, a decrease of 6 from last month. Overall, there was about an 4.1 month supply of properties (Absorption Rate or A/R). There were 81 sales for August, down from 86 last month and well up from the 67 sales Sep12. It isn’t the strongest market in Gwinnett, but the A/R is nothing to sneeze at. It is still in Seller’s Market territory.

DSCN0574

DSCN0574 (Photo credit: lane.bailey)

In the sub-$200k arena, there were 108 listings, with a 2.4 month supply. This was the largest price segment in this market area, so strength here usually equaled strength across the whole local market area. Sales were down from last month 42 (v 49 last month), and down compared to last year (47 sales in Sep12). But, the A/R is well under the 6 months that would be considered fairly balanced… pointing towards a solid seller’s market. This time of year we are usually seeing a decrease is sales… and listings.

Between $200k and $400k, there were 159 listings for sale, and about 5.1 months of supply. The 34 sales recorded were up from the 29 last month and way up from the 14 sales last year for September. This had been one of the weaker segments in the county, but had improved dramatically until a few months ago it was fairly balanced, though tilted towards buyers… now it is a little less into Seller’s Market territory.

From $400k to $600k, there were 45 homes on the market. The absorption rate is 7.5 Months. There have been 18 sales in the last 3 months (6 for July, 7 in August and 5 in September). When the market is rolling, there should be 5-7 sales a month during this part of the year. Just for comparison, there were 8 sales in the Jul-Sep period in 2012. This segment has been bouncing all over the place, though… (as a note, the A/R was 17.25 two months ago).

In the $600k to $800k arena, there were 9 listings. Absorption Rate is 54 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 9 had made things look less slow… but they are back on the rise. There was 0 sales in September last year and 0 in August this year. There were 0 sales in September this year.

The range from $800k to $1m, there were 4 homes listed. Trends are hardly definable. Listings are down. February was the last recorded sale. There was 0 sales in September. So it now has a 48.0 month Absorption Rate. (the decrease in listings is what dropped the A/R)

Above $1m, there were 9 properties listed. There was sale in the segment in April… of 2009…and then May, 2011… and 2 sales in June, 2011… also 1 in July and September, 2012. There was 1 sale in August. So, we have 13.5 months of inventory. I am hoping, but am not expecting, sales to be more consistent.

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 opened for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

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Looking For Listings? Want to See What’s For Sale?

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We have that…

A few weeks back we quietly snuck on a new listings search tool.  We’ve been playing with it and had it public, but hadn’t really announced it…

Ta Daaa

Atlanta Downtown Connector at night

Atlanta Downtown Connector at night (Photo credit: Wikipedia)

If you want to look at properties around Atlanta, check it out.  There is always a link at the top of the page under Home Search > Listings.  It is pretty cool.  We’d LOVE to get your feedback, too.

One of the nifty things is that the folks that wrote this IDX platform are local… right here in the Atlanta area.  I have had the opportunity to meet with them a few times and we have talked about features and options.  They are pretty good guys, so if there are specific features that you think would be cool, let me know and I can pass the word along.

Feel free to set up and account and save searches.  Don’t worry, I’m not going to hound you until the end of time to buy a home just because you set up a free account.

Just enjoy…

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Sugar Hill, GA, Market Report, September 2013

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Market stats for Sugar Hill, GA , September, 2013 indicates that there were 101 homes on the market, down 9 from last month. Overall, there is about an 2.9 month supply (3.0 last month). There were 29 sales, compared to 36 last month and 31 last September. Of course, then there were 139 listings on the market.

English: An ornamental iron fence built for th...

English: An ornamental iron fence built for the City of Sugar Hill, GA. (Photo credit: Wikipedia)

For Sugar Hill homes priced under $200k, there were 45 listings, with about 2.2 months supply. There were 17 sales this September, below last year for the same time (24). There were 26 sales last month. Inventories have been fluid, rising and falling. This time of year we often see a decrease in listings… and we are already very low. In fact, sales may be stifled by lack of inventory. Things have been a little choppy, though… up one month, down the next, then back up.

Sugar Hill Listings between $200k and $400k, there are 45 listings for sale, and about 3.5 months of supply. Last September there was a 5.1 month supply. There were 7 sales then, this year there were 12. Last month had 9 sales. We are still in Seller’s Market territory. Of note, from May, 2012, to June, 2012, the Absorption Rate dropped from 10.5 months of inventory to 5.4. It had spent almost a year above 10… and now has spent over a year below 10.

For listings in the $400k to $600k range, there were 8 homes on the market. The absorption rate was around 12 months, but with 0 sales this month, it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. I’ve finally started to see some consistency here. Hopefully we’ll have a little more action during the rest of the active selling season.

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 were 3 homes listed for sale in these price ranges. 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.

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Suwanee, GA, Market Report, September, 2013

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Market stats for Suwanee, GA, September, 2013 indicate that there were 310 properties on the market (down from 314 last month). Overall, there was about a 2.9 month supply of properties (up from 2.7 last month). September had 88 sales. Compared to Sept, 2012 (78), this year was a little up, but inventory was down compared to 2012 (384). There were 108 sales last month, so this month was also lower.  This is traditionally when things start slowing down… kids are going back to school and parents avoid buying and moving their kids… but then the relocations pick up a bit in the last quarter.

English: This is a picture of the front entran...

English: This is a picture of the front entrance of Lambert High School in Suwanee, Forsyth County, Georgia. (Photo credit: Wikipedia)

In the Under $200k arena, there were 47 listings in Suwanee, GA, with about a 2.4 month supply (compared to 3.1 months supply last year). This September’s sales were 16 (32 last year, 16 last month). It used to be a county leader, though, for now it is moving back to one of the best price/locale segments again. The next level up is coming up fast, though. Last year at this time, there were 107 listings. Sales are being killed by last year’s, but the way the inventory has dropped, there is a pretty good chance that the low inventory is constricting sales.

Between $200k and $400k, there were 147 listings for sale (168 last year, 159 last month), and 2.2 months of supply. Sales in September, 2013 were 56 (70 in August), compared with 38 for the same period in 2012. Sales have rocked for the last few months. This shouldn’t be a “peaky” market/price segment. Unlike most of the county, this is the largest price segment in the area, and its direction plays a major part in how the area looks. Make no mistake, this is still way in Seller’s Market territory. This is one of a very few areas where the $200k-$400k segment is ahead of the under $200k segment.

From $400k to $600k, there were 59 homes on the market. The absorption rate was at 3.9 months (3.2 in August). There were 12 sales in September (17 last month)… up from 6 last year at this time. Looking at the three month average, there were 46 sales this year and 25 for the same period last year. This segment had become dramatically stronger in the last couple of months.

In the $600k to $800k arena, there are 30 listings, with about a 10 month supply. Sales at this level are not consistent, but there were 2 sales this month (4 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 9… For the same time last year, the sales were 8. With the huge decrease in listings over the last couple of months, I was looking for this to become one of the strongest $600k-$800k area in the county. The drop in sales this month from last month put a crimp on the A/R, though.

The range from $800k to $1m, there are 8 homes listed and 24 months of inventory on the market. There were only 4 sales at this price level in 2011. There were 7 in 2012. This is a tough segment to try to sell in right now, but if inventory stays low, it won’t be quite as rough. But there still needs to be some more sales activity. There was 1 sale in March and 1 sale in September. Such a difference between this segment and the one below.

In Suwanee, GA, Above $1m, there are 19 properties listed. The current absorption rate indicated about 28.5 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales. In this segment, we should be seeing reduced inventories… There were 22 homes listed in this segment at this time last year. There was 1 sale in September.

Suwanee, GA is a suburb of Atlanta in Gwinnett, Forsyth and (just a little bit) in Fulton Counties. The population is 2000 was 8,725, but that only included the area inside the city limits, and it had seen tremendous growth since that census. Money Magazine rated Suwanee in the “Top 10 Best Places to Live” in 2007, and it is one of the wealthiest parts of Georgia. Recently, the City of Suwanee has revamped their old town, adding a large park with a bandshell, condos, town homes and small businesses. It is also home to North Gwinnett High School, Peachtree Ridge and Collins Hill.

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