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Norcross, GA, Market Report, August 2011

Friday, 07 October 2011 08:00
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Market stats for Norcross GA, August, 2011 indicate that there were 334 properties on the market.  Overall, there is about a 5.0 month supply of properties.  This year has been very strong so far… although April and May weren’t that strong (April was below last year)… it hasn’t slowed much.  June saw 69 sales, well above the 47 for July and the 52 for last August, and with the decrease in listing inventory the Absorption Rate (AR) built more strength.  This is one of the few market areas in Gwinnett to post five strong months in a row.

In the sub-$200k arena, there were 191 listings, with about 4.0 month supply.  Sales are up markedly from a year ago in this segment, which is the main driver of sales in this area (53 v 39).  For the last three months, the AR has been tilted in favor of sellers… it got a little more so, this month.  This looks like the strongest price/area segment in Gwinnett County, GA.

Between $200k and $400k, there were 104 listings for sale, and about 9.5 months of supply.  This segment isn’t as weak as it had been over the last several months, but it is surprisingly weak compared to the rest of the segments in the area, as well as the price level in other areas.  The 12 sales were a bump from last year’s 9 sales, as well as a good bump from last month’s 6 sales.  Of course, this segment has always seemed to lag.

From $400k to $600k, there were 31 homes on the market.  The Absorption Rate is around 13.3 months.  The AR had been dropping for months, then shot WAY up in June.  It has been working down slowly since.  August’s 4 sales are up from 2 the month before and last year’s 3 sales… but the inventory decrease really helped.

In the $600k to $800k arena, there were 4 listings on the market.  Inventories had decreased compared to last year.  The Absorption Rate is at 12 months of inventory… but with only 4 sales last year and then the sale in March and another each in May and June, obviously it is easy to bump one way or the other.  The ONLY reason for the strong looking Absorption Rate last month was that there were so few listings.

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 16.5 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County.  The population is 2000 was 8,410 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, August 2011

Friday, 30 September 2011 08:00
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Market stats for Buford, GA, August, 2011 indicate that there were 534 properties on the market. Overall, there was about an 6.4 month supply of properties (Absorption Rate or A/R).  There were 75 sales for August, down slightly from 77 last month and up significantly from 57 from last August (2010).In the sub-$200k arena, there were 284 listings, with a 4.6 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 down slightly from last month (56 v 61), but impressively strong compared to last year (35 sales in August, 2010).  Framed in the results for the whole market area, the segment is quite strong.  And the A/R is well under the 6 months that would be considered fairly balanced… pointing towards a seller’s market.

Between $200k and $400k, there were 179 listings for sale, and about  9.6 months of supply.  The 17 sales recorded were slightly above the 14 from last month, but right on the 17 sales last year for August.  As strong as the Under $200k segment is, this one is MUCH weaker.  It is one of the weaker areas in the county for this price.  Of course, last September, the A/R was almost twice as high.

From $400k to $600k, there were 46 homes on the market. The absorption rate is 23 Months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There has been 6 sales in the last 3 months (2 sales for August, 1 for July, 3 for June).  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 extremely weak.

In the $600k to $800k arena, there were 5 listings.  Absorption Rate is 15 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 5 homes has made things look less slow… but there have been 5 sales in this segment in the last year… the last was last month.

The range from $800k to $1m, there were 11 homes listed. And with only 2 sales in the last year (December, 2010), obviously  trends are hardly definable.  Listings are up, but sales aren’t following, though.

Above $1m, there were 9 properties listed.  The last sale in the segment was in April… of 2009…and then there was May… and 2 sales in June.  FINALLY, new sales!  So, we have 13.5 months of inventory.  I hope, 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 will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

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Wayback Wednesday… GEHC… Again.

Wednesday, 03 August 2011 08:00
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DSCN0593

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Has it really been 3 years?  Yes, Yes it has (Phineas & Ferb fan?).

I wrote my first post about the Gwinnett Environmental & Heritage Center on August 2nd, 2008.  Back then, I lived 45 minutes away, but enjoyed visiting with my sons.  Now, I live 10 minutes away… and my boys are both big enough to enjoy the visits.  The older one (at 7) is an “expert” on the Water Room, while the younger one (at 3) just loves to run around on the trails and see if he can spot any wildlife.

It is a cool venue in several respects.  To begin with, the building is extremely environmentally friendly.  It is Gwinnett County’s first Gold LEED Certified building.  The trails are nice and offer a variety of challenges.  For more about GEHC, take a look at the old post.

There are a lot of recreational opportunities, both for kids and adults.

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Suwanee, GA, Market Report, June 2011

Friday, 29 July 2011 08:00
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Market stats for Suwanee, GA, June, 2011 indicate that there are 629 properties on the market (down from 640 last month). Overall, there is about an 8.4 month supply of properties (down from 8.9 last month).  May sales were up (88), but June reversed the trend with just 63 sales.  Compared to 2010 (88), that was very weak.   Inventory was down slightly compared to 2010 (652).

In the Under $200k arena, there are 183 listings in Suwanee, GA, with about a 5.6 month supply (184 and 6.5, respectively last month).  Last June, there was a 4.8 month supply.  This June’s sales were OK, at 33 (29 last month).  April was VERY strong (37) and last June there were 28.  This is definitely the strongest price segment in Duluth, but not that strong compared to some other areas of the county.

Between $200k and $400k, there are 300 listings for sale (310 last month), and 9.3 months of supply (May was 9.0).  Sales in June, 2011 were 22 (45 in May), compared with 46 for the same period in 2010.  Pretty weak, but even with the decrease in listings, the Absorption Rate (AR) got worse, reversing its trend of the last few months.  So far this year, only February and May posted better sales than 2010.  This segment was MUCH stronger last month.

From $400k to $600k, there are 78 homes on the market (87 last month). The absorption rate is at 14.6 months (14.5 in May).  There were 3 sales in June (10 in May)… down from 11 last June.  Even looking at the three month average, there were 16 sales this year and 28 for the same period last year.  The only good part is that listings are down slightly, and would normally be flat of slightly rising at this time of the year.

In the $600k to $800k arena, there are 30 listings (25 last month), with about a 12.9 month supply (15.0 in May).  Sales at this level are not consistent, but there were 3 this month (2 last month).  Looking at one month makes the numbers jump.  For the last three months, sales were 7…  For the same time last year, the sales were 12.  The segment is weak, but we can’t call a trend… three months ago it was looking stronger and it looks a little stronger again… at least stronger than it was.

The range from $800k to $1m, there are 11 homes listed and 33 months of inventory on the market.  There were only been 4 sales at this price level last year (1 each in January, April, May and December) and one for April this year.  This is a tough segment to try to sell in right now.

In Suwanee, GA, Above $1m, there are 27 properties listed. The current absorption rate indicated about 13.5 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.  Again, we can thank reduced inventory for making the market look healthier (4 sales in Mar-May this year and 6 last year).  But, in this segment, we should be seeing reduced inventories…  There were 33 homes listed in this segment at this time last year. There were 2 sales for June.

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. I have a page dedicated to Suwanee Market Data.

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Photo Friday… Kicking It @ Hockey Camp

Friday, 10 June 2011 08:11
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Random Thoughts and Images from Hockey Camp...

G in the Line-Up...

Yes, I am a “Hockey Dad”. My 7 year old son has been playing hockey since 2008 (and yes, that means he started at age 4).  This is his 3rd year skating in the Come And Get It Hockey Camp (we call it CAGI Hockey).  He gets a week at the beginning of June and another in July.  I don’t know there is ANYTHING he looks forward to as much as hockey camp with Coach Sully.  This is his 3rd summer skating in the CAGI Hockey Camp.

Gwinnett Gladiator Danny Taylor Working with G on Goalie Techniques

Today is the last day for the June camp.  July’s camp will run from July 11th-15th.  And let me tell you… if you have a youth hockey player that can make it here for the camp… GET THEM HERE.  They will love it.  If you like hockey, whether you have a youth player or not, come over to the Duluth Ice Forum and watch some kids pour their heart into being better players.  These kids range in age from 4 years old to high school.  This afternoon (June 10th, 2011) the kids will be scrimmaging from 3:30-4:30. (I imagine that the timing will be similar for the July camp… but check back.)

I have been there for most of the ice sessions… there are 3 each day.  And the kids are amazing to watch.  Some of these kids surprise the Atlanta Thrashers that pop in during the day to watch.  There are some kids with SERIOUS skills.  Other players are more casual, but for camp, they push themselves pretty hard.

And the kid in the pics is mine… from the 2010 Camps.

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