Image via Wikipedia
Market stats for Lawrenceville, March, 2011, indicate that there are 1648 properties on the market. Overall, there is about a 9.2 month supply of properties.
In 2010, sales for March were at 181, so 239 is only a pretty nice increase, year over year. Coupled with the recent decrease in inventory, things are looking up.
For Lawrenceville Homes Under $200k, there are 1414 listings, with about an 8.8 month supply of homes. Sales were way up from March 2010 (220 v 154). Since this segment is easily the lion’s share of sales for the area, it isn’t surprising (given that the market area is doing pretty well) that this segment is strong. It is actually one of the strongest segments in the county.
Between $200k and $400k, there are 205 listings for sale, and about 14 months of supply. Oddly, this was one of the weakest segments in the county. The 16 sales for March, 2011 were well down from the 27 from March last year. Ditto for February… so March is the second weak month in a row here.
From $400k to $600k, there are 20 homes on the market. The absorption rate is around 12 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 the 2 sales for March, 2011 actually looked pretty strong. Even 5 sales in the last three months looks pretty strong. 4 months ago there was 87 months of inventory…
- In the $600k to $800k arena, there are 6 listings, with about 6 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there were only 3 sales in the last three months. Prior to that, the last sale was in July, 2010. Unless we have 2 or more sales for April, the Absorption Rate is likely to go up…
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.
Related articles
- Lawrenceville, GA Market Report, February 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, January 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, December 2010 (lanebailey.com)
- Lawrenceville, GA Market Report, November 2010 (lanebailey.com)
- Lawrenceville, GA Market Report, October 2010 (lanebailey.com)
- I’m Always Up For a Good Surprise.. (lanebailey.com)
- Gwinnett County Public Schools Making Changes… (lanebailey.com)
