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Category Archives: lilburn

Big League Dreams another step closer to Lilburn…

Thursday, 28 October 2010 08:02
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By DF Shapinsky for PINGNews.com/Shapinsky Mul...
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Over on my LilburnDwellings blog a few weeks ago I wrote about Big League Dreams possibly coming to Lilburn, GA.  At that time, the city was thinking about spending $450,000 (refundable, according to the City) for a feasibility study from Big League Dreams regarding building a facility here in Lilburn.

Last week, the City approved the feasibility study based on a market study conducted by BLD.  According to the market study, Gwinnett is ripe for their type of facility.  However, there seem to be some problems that I see in the study… running counter to the goals of the facility.  The most glaring is that the City of Lilburn wants to bring people here to eat in our restaurants and stay in local hotels, but according to the study, the vast majority of users will be from within Gwinnett County.  Another item (that I didn’t see mentioned in the study) is that there aren’t many hotel rooms or a variety of restaurants within the city limits… where it would increase tax revenue.

There is more information here on the Gwinnett Daily Post.

I think that there needs to be a LOT more public input before the city commits to $20,000,000 for one of these facilities.  And I think that there need to be some studies done apart from BLD… they have little risk, they would build the facility, but the city would pay for it, then BLD operates it… and charges the city to do it.  Even if it falls radically short of expectations, BLD can still profit.

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Lilburn, GA Market Report, September 2010

Monday, 25 October 2010 08:46
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This map shows the incorporated and unincorpor...
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Market stats for Lilburn, September, 2010, indicates that there are 443 properties on the market (as of September 30th). Overall, there is about a 9.8 month supply of properties.  Lilburn is actually mid-pack among cities in Gwinnett County.  Absorption Rates had been improving since March, until September.  In fact, in March there was 15.3 months of inventory.

In the sub-$200k arena, there are 273 listings, with about an 7.7 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March.  And, one other thing to keep in mind is that sales were strong compared to September 2009 (32 v 25).

Between $200k and $400k, there are 146 listings for sale, and about 19 months of supply. This segment has also been getting stronger each month since March, until this month.  There were only 2 sales in September 2010, compared to 11 last year.

From $400k to $600k, there are 20 homes on the market. The absorption rate is around 15 months. There was one more sale in September 2010 (1) v September 2009 (0) as this year, but there were no sales in this segment in May, June or July this year.  Last summer was much stronger overall.  With just a few sales, just one or two can make a huge difference.

Above $600k, there are 4 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January, March and August).  One of the listings is above $800k, and there is no market activity in the last 12 months for that range…

Lilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

I have a page dedicated to Lilburn Market Data.

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Lilburn, GA Market Report, August 2010

Tuesday, 28 September 2010 08:50
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Lilburn National Night Out

via Lane Bailey

Lilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

Market stats for Lilburn, August, 2010, indicates that there are 481 properties on the market (as of August 31st). Overall, there is about a 9.6 month supply of properties.  Lilburn is actually one of the better performing cities in Gwinnett County.  Absorption Rates have been improving since March.  In fact, in March the re was 15.3 months of inventory.

In the sub-$200k arena, there are 292 listings, with about an 7.8 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels since March.  And, one other thing to keep in mind is that sales were VERY strong compared to August 2009 (38 v 25).

Between $200k and $400k, there are 162 listings for sale, and about 14.3 months of supply. This segment has also been getting stronger each month since March.  However, there were only 9 sales in August 2010, compared to 13 last year.

From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months.  There were exactly the same number of sales in August 2009 (3) as this year, but there were no sales in this segment in May, June or July.  Last summer was much stronger.  With just a few sales, just a sale or two can make a huge difference.

Above $600k, there are 5 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January and March).  Two of the listings are above $800k, and there is no market activity in the last 12 months for that range…

I have a page dedicated to Lilburn Market Data.

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This is what I feared… Gwinnett Market Report – July, 2010

Tuesday, 17 August 2010 08:20
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DSCN0559
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I have been kind of expecting this, but of course it will take a couple of months to confirm…

The Tax Credit did not kick the Gwinnett Market into gear…

Instead, its expiration killed sales.  Looking over the last few months of sales we see that for 2010, sales were (compared to 2009):

  • January – down 10.9%
  • February – up 1.7%
  • March – up 10.1%
  • April – up 14.1%
  • May – up 17.3%
  • June – down 0.8%
  • July – down 26.2%

As we look over these numbers, there are a few things to keep in mind…  To start with, the July numbers will likely get a little better.  Although sales are supposed to be reported within 48 hours of closing, there are always stragglers that take a few weeks to make it into the reports.  Contracts had to be written by April 30th, and sales here usually only take 30-45 days to close.  That would be why sales were up in May, but not in June… those sales were likely closed.  I didn’t see a lot of buyers playing chicken with the contract dates.

All isn’t doom and gloom…  Inventories are down a bit from last year.  This is helping to keep the absorption rates at a reasonable level.  But they are still decelerating.

Look for specific reports over the next couple of weeks for Lilburn, Lawrenceville, Duluth, Suwanee, Sugar Hill, Buford and Norcross.

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Flashback Friday… Rumble, Rumble…

Friday, 13 August 2010 08:23
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A Kawasaki ZX-7RR sport bike
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Last year I was in the midst of writing about some of the local businesses I try to frequent.  One of those was Millennium Cycle Works.  I dropped in one day (without my 4′ co-pilot) and talked for a minute with Ken, the owner.  After a moment to gather his thoughts, I shot a video of him talking about his business.  He is a great guy with a cool cycle dealership.

My wife still won’t let me talk her into me getting a bike… but I still have managed to get up there for a few things here and there.  My 6 year old has some gloves made for riding a dirt bike.  They are very similar to Mechanic’s Gloves… which are REALLY hard to find in sizes that small.

Here is a link to the original post and video.

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