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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.
Market stats for Lawrenceville, August, 2010, indicate that there are 1639 properties on the market. Overall, there is about an 8.9 month supply of properties, with sales remaining weak since June.
Sales dropped off dramatically this year compared to last.
In the sub-$200k arena, there are 1279 listings, with about a 7.9 month supply of homes. Sales accelerated through June, but then fell off as the tax credit was slated to end. While inventories are down from just a couple of years ago, for the recent past, they are still high.
Between $200k and $400k, there are 311 listings for sale, and about 14.6 months of supply. Sales have slowed dramatically since June. Actually, they were up compared to July, but July was abysmal. And sales were down compared to last year.
From $400k to $600k, there are 33 homes on the market. The absorption rate is around 4 years. However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact. There were no sales for July or August, and only three in the two preceding months.
In the $600k to $800k arena, there are 12 listings, with about 36 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there were only two sales since November, 2009.
Above $800k there are 4 homes listed and not enough sales data to give an accurate absorption rate. There hasonly been one sale in this range in the last 23 months, according to FMLS.
I have a page dedicated to Lawrenceville Market Data.
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- This is what I feared… Gwinnett Market Report – July, 2010 (lanebailey.com)
