Category Archives: buford

Buford, GA, Market Report, August 2013

Monday, 23 September 2013 09:21

Written by Lane Bailey

1 Comment

Market stats for Buford, GA, August, 2013 indicate that there were 340 properties on the market, an increase of 8 from last month. Overall, there was about an 4.2 month supply of properties (Absorption Rate or A/R). There were 86 sales for August, up from 80 last month and from the 80 sales last Aug12. 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 (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 up from last month 49 (v 42 last month), and flat compared to last year (49 sales in Aug12). 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 an increase is sales… and listings.

Between $200k and $400k, there were 160 listings for sale, and about 5.2 months of supply. The 29 sales recorded were down from the 31 last month and down from the 31 sales last year for August. 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 46 homes on the market. The absorption rate is 9.2 Months. There have been 15 sales in the last 3 months (2 for June, 6 for July and 7 in August). When the market is rolling, there should be 5-7 sales a month during this part of the year. Just for comparison, there were 6 sales in the Jun-Aug period in 2012. This segment has been bouncing all over the place, though… (as a note, the A/R was 17.25 last month).

In the $600k to $800k arena, there were 10 listings. Absorption Rate is 30 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 August last year and 0 in July this year. There were 0 sales in August 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 August. So it now has a 24.0 month Absorption Rate. (the decrease in listings is what dropped the A/R)

Above $1m, there were 12 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 18 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 opened for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

Buford, GA, Market Report, July 2013

Monday, 26 August 2013 09:33

Written by Lane Bailey

0 Comments

Market stats for Buford, GA, July, 2013 indicate that there were 332 properties on the market, an decrease of 7 from last month. Overall, there was about an 4.1 month supply of properties (Absorption Rate or A/R). There were 80 sales for July, up from 76 last month and down from the 84 sales last July12. 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 (Photo credit: lane.bailey)

In the sub-$200k arena, there were 117 listings, with a 2.6 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 flat from last month 42 (v 42 last month), and well down compared to last year (53 sales in Jul12). 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 an increase is sales… and listings.

Between $200k and $400k, there were 145 listings for sale, and about 4.4 months of supply. The 31 sales recorded were down from the 32 last month and up from the 26 sales last year for July. 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 further into Seller’s Market territory.

From $400k to $600k, there were 46 homes on the market. The absorption rate is 17.3 Months. There have been 8 sales in the last 3 months (0 for May, 2 for June and 6 for July). When the market is rolling, there should be 5-7 sales a month during this part of the year. Just for comparison, there were 13 sales in the May-Jul period in 2012. This segment has been bouncing all over the place, though…

In the $600k to $800k arena, there were 9 listings. Absorption Rate is 27 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 July last year and 0 in June this year. There were 0 sales in July this year.

The range from $800k to $1m, there were 3 homes listed. Trends are hardly definable. Listings are down. February was the last recorded sale. There was 0 sales in July. So it now has a 18.0 month Absorption Rate. (the decrease in listings is what dropped the A/R)

Above $1m, there were 12 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 July. So, we have 36 months of inventory. I hope, but am not expecting, sales to be more consistent.

I have a page dedicated to Buford Market Data.

Atlanta Metro Zillow Home Value Index

Atlanta Metro Home Values – Interactive chart

State of the Market for the North Gwinnett HS Area

Wednesday, 07 August 2013 10:04

Written by Lane Bailey

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Real estate is local… and one of the biggest influences in real estate is the local schools. Great schools spur demand. Mediocre schools lag. People actively seek a way out of bad school districts. It isn’t the only thing that pushes value and demand, but it certainly is one of the big drivers.

Transportation, jobs and local amenities are also drivers. Depending on the type of buyers, things like hospitals may pull one demographic, while shopping and restaurants may pull in another.

In the case of the schools in the NGHS cluster (Roberts, Suwanee, Level Creek and Riverside Elementary; North Gwinnett Middle School and North Gwinnett High School), there is a draw from the quality of the schools. People WANT to be in this area to have access to these schools.

Because of that, we are seeing prices push up and inventories push down. In fact, when looking at the sales, the recent decreases look to be largely because there simply isn’t enough inventory to support more sales. So, while at first glance it may look like this area is slowing down, the problem is that there just isn’t any supply to allow a higher number of sales. The North Gwinnett Cluster consists of parts of Suwanee and a little bit of Sugar Hill.

Since schools are one of the big drivers of demand, MANY consumers search for real estate based on schools. Unfortunately, there are a lot of homes that are incorrectly entered, causing homes that are NOT in the cluster to land in the search results… and even throwing off the statistics, as homes outside of the correct area are included in statistical samples.

Working with an agent that lives and works in the area you are interested in helps to sort out some of the chaff… but even then I see a lot of agents that have been in the market area a long time kind of “forget” that several new schools opened 3 years ago… and that the alignment and attendance zones changed. One easy way to tell… any listing with North Gwinnett High School and Lanier Middle School together is wrong…

If you are interested in a home in the North Gwinnett Cluster, or if you want to sell your home in the North Gwinnett Cluster, give Lane a call…

Buford, GA, Market Report, June 2013

Monday, 29 July 2013 09:38

Written by Lane Bailey

0 Comments

Market stats for Buford, GA, June, 2013 indicate that there were 3239 properties on the market, an increase of 15 from last month. Overall, there was about an 4.0 month supply of properties (Absorption Rate or A/R). There were 76 sales for June, down from 88 last month and well down from the 102 sales last June12. 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.

In the sub-$200k arena, there were 127 listings, with a 2.7 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 from last month 42 (v 52 last month), and well down compared to last year (68 sales in June12). 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 an increase is sales… and listings.

Between $200k and $400k, there were 137 listings for sale, and about 4.1 months of supply. The 32 sales recorded were down from the 35 last month and up from the 29 sales last year for June. 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 further into Seller’s Market territory.

From $400k to $600k, there were 50 homes on the market. The absorption rate is 16.7 Months. There have been 9 sales in the last 3 months (7 for April, 0 for May and 2 for June). When the market is rolling, there should be 5-7 sales a month during this part of the year. Just for comparison, there were 15 sales in the Apr-Jun period in 2012. This segment has been bouncing all over the place, though…

In the $600k to $800k arena, there were 7 listings. Absorption Rate is 21 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 7 had made things look less slow… but they are back on the rise. There was 1 sale in June last year and 1 in May this year. There were 0 sales in June 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 June. So it now has a 24.0 month Absorption Rate.

Above $1m, there were 14 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 0 sales in June. So, we have 42 months of inventory. I hope, but am not expecting, sales to be more consistent.

I have a page dedicated to Buford Market Data.

Atlanta Metro Zillow Home Value Index

Atlanta Metro Home Values – Interactive chart

Buford, GA, Market Report, May 2013

Monday, 24 June 2013 09:23

Written by Lane Bailey

1 Comment

Market stats for Buford, GA, May, 2013 indicate that there were 324 properties on the market, an decrease of 28 from last month. Overall, there was about an 4.0 month supply of properties (Absorption Rate or A/R). There were 88 sales for May, down from 90 last month and upfrom the 86 sales last May12. 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.

In the sub-$200k arena, there were 120 listings, with a 2.5 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 from last month 52 (v 49 last month), and slightly down compared to last year (54 sales in May12). 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 an increase is sales… and listings.

Between $200k and $400k, there were 136 listings for sale, and about 4.5 months of supply. The 35 sales recorded were up from the 33 last month and up from the 25 sales last year for May. This had been one of the weaker segments in the county, but had improved dramatically until last month it was fairly balanced, though tilted towards buyers… now it is further into Seller’s Market territory.

From $400k to $600k, there were 46 homes on the market. The absorption rate is 19.7 Months. There have been 7 sales in the last 3 months (0 for March, 7 for April and 0 for May). When the market is rolling, there should be 5-7 sales a month during this part of the year. Just for comparison, there were 16 sales in the Mar-May period in 2012. This segment has been bouncing all over the place, though…

In the $600k to $800k arena, there were 6 listings. Absorption Rate is 9.0 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 6 had made things look less slow… but they are back on the rise. There were 0 sales in May last year and 1 in May 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 May. So it now has a 12.0 month Absorption Rate.

Above $1m, there were 12 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 0 sales in May. So, we have 18 months of inventory. I hope, but am not expecting, sales to be more consistent.