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Category Archives: lilburn

Lilburn, GA Market Report, April 2012

Friday, 18 May 2012 08:00
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This map shows the incorporated and unincorpor...
This map shows the incorporated and unincorporated areas in Gwinnett County, Georgia, highlighting Lilburn in red. It was created with a custom script with US Census Bureau data and modified with Inkscape. (Photo credit: Wikipedia)

Market stats for Lilburn, GA, April, 2012, indicate that there were 327properties on the market (as of April 30th). Overall, there was about an 6.2 month supply of properties and 65 properties that closed (sold) in April. It was a huge increase from last year’s sales (44) and an increase from March (51 sales). The Absorption Rate notched down a good bit. Lilburn had been among the weakest of Gwinnett County, GA, cities I track. But, at 6.17 months of inventory, it isn’t nearly as bad as it had been just a year ago (14.35 months of inventory in Feb, 2011, for example).

In the sub-$200k arena, there were 229 listings, with about an 5.4 month supply with 51 sales. This represents most of the sales in the market area. Sales increased solidly from last month (41), and were also up from last year (32). While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m still pulling for a comeback for Lilburn. The track is getting a little better.

Between $200k and $400k, there are 85 listings for sale, and about 8.5 months of supply. This segment had been quite weak for months, and had stalled a little, but came back with a vengeance. It is stalling a bit again. There were 14 sales compared to 11 last year. This segment really needs to get back into single digit A/Rs … but, Lilburn has never been seen as a luxury market. But the decrease in listings has really helped. I’m still not as confident about this portion of the Lilburn market coming back quite yet… It was strengthening, just not as consistently as I’d like.

From $400k to $600k, there are just 9 homes on the market. The absorption rate is 27 months (one year average). There was 1 sales in March. It was the first sale in the segment since last July. Poised for a comeback, but the increase in listings and weak sales don’t give the right ingredients for that to happen.

From $600k to $800k, $800k to $1M and Above $1M, there are 4 listings (combined), but too few sales to have any sort of reliable number of months of inventory. March posted the first sale since August, 2010. It was in the $600-$800k range. One of the listings is above $1M and one between $800k and $1M, and there is no market activity in the last 12 months for those ranges…

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.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Lilburn Market Data.

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Prices Up? Prices Down? WTH??

Wednesday, 25 April 2012 08:00
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Case-Shiller Home Price Index

Case-Shiller Home Price Index (Photo credit: planspark)

Just in the last two days I have heard reported on the national news that prices have stabilized (link to the NAR release here) and that prices were declining in 16 of the 20 top metro areas (Case-Shiller link here).

How can these two stories be squared?

Honestly, I don’t think that they can be…  and given experience with past “interpretations” by the NAR, I’m inclined to not believe the NAR numbers.  Actually… I believe the numbers, but not the interpretation.

Case-Shiller looks at actual properties in some of their surveys.  Rather than looking at averages or medians, they sample properties.  By looking at repeat sales of the same address, they can better determine what prices are doing.

Pretty much every other study looks at all of the sales and then breaks it down to average or median prices.  The problem then is that if more expensive homes are selling, it looks like values are going up.  If less expensive homes are selling, it looks like prices are going down.

Of course, nothing is perfect.

The problem is that there are a LOT of ways that data can be sliced and diced.  And EVERYONE that looks at the data has an agenda.  Some may be better at ignoring their personal bias, but it is still there.

My take?  I don’t think we are quite ready to recover.  Yet.  I think that the bottom line is that until there is a recovery in jobs (not the unemployment rate, but the employment rate), there will be no recovery in the hosing market.  And that shakes out to local areas…

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Lilburn, GA Market Report, March 2012

Sunday, 22 April 2012 08:00
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This map shows the incorporated and unincorpor...
This map shows the incorporated and unincorporated areas in Gwinnett County, Georgia, highlighting Lilburn in red. It was created with a custom script with US Census Bureau data and modified with Inkscape. (Photo credit: Wikipedia)

Market stats for Lilburn, GA, March, 2012, indicates that there were 344 properties on the market (as of March 31st).  Overall, there was about an 7.4 month supply of properties and 51 properties that closed (sold) in March.  It was a decrease from last year’s sales (55) but an increase from February (43 sales).  The Absorption Rate notched down a bit.  Lilburn had been among the weakest of Gwinnett County, GA, cities I track.  But, at 7.37 months of inventory, it isn’t nearly as bad as it had been just a year ago (14.35 months of inventory in Feb, 2011, for example).

In the sub-$200k arena, there were 237 listings, with about an 5.8 month supply with 41 sales.  This represents most of the sales in the market area.  Sales increased solidly from last month (36), and were also down ever so slightly from last year (43).  While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m still pulling for a comeback for Lilburn.  The track is getting a little better.

Between $200k and $400k, there are 96 listings for sale, and about 18.0 months of supply.  This segment had been quite weak for months, and had stalled a little, but came back with a vengeance.  It is stalling a bit again.  There were 9 sales compared to 9 last year.  This segment really needs to get back into single digit A/Rs … but, Lilburn has never been seen as a luxury market.  But the decrease in listings has really helped.  I’m still not as confident about this portion of the Lilburn market coming back quite yet… It was strengthening, just not as quickly as I’d like.

From $400k to $600k, there are just 7 homes on the market.  The absorption rate is 21 months (one year average).  There was 1 sales in March.  It was the first sale in the segment since last July.  Poised for a comeback, but the increase in listings and weak sales don’t give the right ingredients for that to happen.

From $600k to $800k, $800k to $1M and Above $1M, there are 4 listings (combined), but too few sales to have any sort of reliable number of months of inventory. March posted the first sale since August, 2010. It was in the $600-$800k range. One of the listings is above $1M and one between $800k and $1M, and there is no market activity in the last 12 months for those ranges…

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.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Lilburn Market Data.

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Lilburn, GA Market Report, February 2012

Friday, 16 March 2012 08:00
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This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Lilburn, GA, February, 2012, indicates that there were 358 properties on the market (as of February 29th).  Overall, there was about an 7.5 month supply of properties and 43 properties that closed (sold) in February.  It was an increase from last year’s sales (26) but a slight decrease from January (46 sales).  The Absorption Rate notched down a bit.  Lilburn had been among the weakest of Gwinnett County, GA, cities I track.  But, at 7.51 months of inventory, it isn’t nearly as bad as it had been just a few months ago (14.35 months of inventory in Feb, 2011, for example).

In the sub-$200k arena, there were 258 listings, with about an 6.2 month supply with 36 sales.  This represents most of the sales in the market area.  Sales decreased slightly from last month (46), and were also up dramatically from last year (22).  While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m still pulling for a comeback for Lilburn.  The track is getting a little better.

Between $200k and $400k, there are 90 listings for sale, and about 15.0 months of supply.  This segment had been quite weak for months, and had stalled a little, but came back with a vengeance.  There were 7 sales compared to 4 last year.  This segment really needs to get back into single digit A/Rs … but, Lilburn has never been seen as a luxury market.  But the decrease in listings has really helped.  I’m still not as confident about this portion of the Lilburn market coming back quite yet…  It is strengthening, just not as quickly as I’d like.

From $400k to $600k, there are just 5 homes on the market. The absorption rate is 7.5 months (one year average). There were 2 sales in March, which really turned the segment around, followed by 1 sale for April. May posted 2 sales, 1 sale in June, 2 in July and none since.  The apparent strength in the A/R isn’t from recent sales as much as from low listing vol

From $600k to $800k, $800k to $1M and Above $1M, there are 5 listings (combined), but too few sales to have any sort of reliable number of months of inventory. March posted the first sale since August, 2010. It was in the $600-$800k range. One of the listings is above $1M and one between $800k and $1M, and there is no market activity in the last 12 months for those ranges…

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.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Lilburn Market Data.

Related articles
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Wayback Wednesday… Walking in Lilburn

Wednesday, 07 March 2012 08:00
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Lilburn City Park has been expanding.  Last year I wrote about the extension of the walking trails from Lilburn City Park going out to Killian Hill Road.  There are actually two spurs, both ending at different points on Killian Hill Road.  The older trail runs from the park to Rockbridge Road.

Both trails are quite nice, with boardwalks in a few spots, paved on the remainder.  Whether you are walking, jogging or biking, there is plenty of room.

Here is the link to last year’s post, as well as a few pictures from the trail.

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