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Category Archives: lawrenceville

Lawrenceville, GA Market Report, May 2011

Thursday, 23 June 2011 08:15
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This map shows the incorporated and unincorpor...

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Market stats for Lawrenceville, May, 2011, indicate that there are 1573 properties on the market. Overall, there is about a 6.5 month supply of properties. In 2010, sales for May were at 215, so 262 sales is a pretty good increase, year over year.  Coupled with the slight decrease in inventory, things are looking up.  Normally at this time of year we should be seeing healthy increases in month to month sales.

For Lawrenceville, GA, Homes Under $200k, there are 1340 listings, with about an 6 month supply of homes.  Sales were way up from May 2010 (246 v 194).  This segment is easily the lion’s share of sales for the area.  Last month this was just a mid-pack price/area segment in Gwinnett County, but this month it is one of the strongest.  The big drop in Absorption Rate (AR) is due to strong sales, coupled with slightly lower inventories.

Between $200k and $400k, there are 198 listings for sale, and about 11.4 months of supply.  Oddly, this was one of the weakest segments in the county.  The 16 sales for May, 2011 were down from the 20 from May last year.  Sales should have been closer to 30 units for May, and I’d like to see over 30 for June.

From $400k to $600k, there are 28 homes on the market. The absorption rate is around 42 months.  However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  Case in point is that we went from a 12 month AR to a 42 month AR because of a lack of sales for the last 2 months.  Just 5 months ago there was 87 months of inventory, though…

In the $600k to $800k arena, there are 4 listings, with about 12 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there was only 1 sale in the last three months.  I was looking for 2 sales in May… and there were none.  It has been quite a while since sales were strong here… the only saving grace is low inventory.

Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. There has only been one sale in this range in the last 2 years (Aug, 2010), according to FMLS.

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.

I have a page dedicated to Lawrenceville Market Data.

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The Gwinnett County Market is a Little Weird Right Now…

Thursday, 09 June 2011 08:46
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DSCN0561
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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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Lawrenceville, GA Market Report, April 2011

Thursday, 19 May 2011 08:32
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Downtown Lawrenceville (as of June 2006)

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Market stats for Lawrenceville, April, 2011, indicate that there are 1576 properties on the market. Overall, there is about a 7.6 month supply of properties. In 2010, sales for April were at 216, so 229 sales isn’t much of an increase, year over year.  But, coupled with the recent decrease in inventory, things are looking up.  However, there were 239 sales in March, 2011, so that makes the 229 seem like a giant step backwards.  Normally at this time of year, we are seeing healthy increases in month to month sales.

For Lawrenceville, GA, Homes Under $200k, there are 1343 listings, with about an 7.1 month supply of homes.  Sales were way up from April 2010 (209 v 186).  This segment is easily the lion’s share of sales for the area.  Last month this was one of the strongest price/area segments in Gwinnett County, but this month it is just mid-pack.  The big drop in Absorption Rate (AR) is more due to lower inventory than strong sales.

Between $200k and $400k, there are 204 listings for sale, and about 13.3 months of supply.  Oddly, this was one of the weakest segments in the county.  The 20 sales for April, 2011 were WAY down from the 29 from March last year.  Ditto for February and March… so April is the second weak month in a row here.

From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months.  However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  Case in point is that we went from a 12 month AR to a 22 month AR because of a lack of sales for last month.  Just 4 months ago there was 87 months of inventory, though…

In the $600k to $800k arena, there are 4 listings, with about 12 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there was only 1 sale in the last three months.  I was looking for 2 sales in April… and there were none.  Even with the inventory drop from 6 to 4 listings, the AR doubled.

Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. There has only been one sale in this range in the last 2 years (Aug, 2010), according to FMLS.

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.

I have a page dedicated to Lawrenceville Market Data.

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Wayback Wednesday… Still Bickering…

Wednesday, 18 May 2011 08:49
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Gwinnett County Historic Courthouse, Lawrencev...

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Last year I wrote about how Gwinnett County and 15 cities in the county were involved in a lawsuit.  At that time, they only had days to get things straightened out before there were serious issues with the “Qualified Status” of the local governments.

A year later and they are still bickering over it.

There are a few changes…  Some police departments were de-certified to use radar.  The Gwinnett County Sheriff’s Department stepped in and ran radar.  The lawsuits are continuing.  The County could go bankrupt if the cities win.  Residents in the cities could continue to face double charges for services provided by the cities.

This would be more fun if we could just break out the popcorn and watch without financial implications or worry about city and county service delivery.

For more…

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Photo Friday… Rope=Bridge

Friday, 22 April 2011 08:09
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G on a rope bridgeLast weekend was the annual ScoutBlast at the Gwinnett County Fairgrounds.  The Northeast Georgia Council holds the event each year to allow the Scout from different Packs and Troops to get together as well as allow the public to see what sort of cool things they can come up with in camp.

There were:

  • rope bridges
  • a kayaking pond
  • a “Cub Car” track
  • rod & reel casting
  • a rotating swing
  • compressed air rockets
  • a trebuchet
  • boat building

There were also multiple vendors showing Scouts and leaders, as well as those in the public that might be interested.

The kids were running around and checking out all of the cool things to do, and Scout leaders were looking for ideas for next year’s event.

Events like this are happening all over Gwinnett County most weekends thro0ughout the year.  Not specifically Scouting, but events that might be interesting to you or your kids.  Model train shows, car shows, equestrian events and more.  I try to mention the ones that I am aware of… especially the ones that I get to visit with my family.  Take a look around… the worst that could happen is meetng a new friend that shares your hobbies or interests.

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