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Category Archives: norcross

Norcross, GA, Market Report, April 2011

Tuesday, 07 June 2011 08:52
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Market stats for Norcross GA, April, 2011 indicate that there were 384 properties on the market. Overall, there is about a 7.6 month supply of properties. January was a powerhouse…  February continued the trend, although not quite as powerful.  March was a breakout month.  April saw 49 sales, short of the 59 for March and short of the 52 for last April, but with the decrease in listing inventory the Absorption Rate (AR) still built strength.  This is one of the few market areas in Gwinnett to post four strong months in a row.

In the sub-$200k arena, there were 217 listings, with about 5.5 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (44 v 32).  Last month, the AR was in the range of balanced… it got a little better this month.  This looks like the strongest price/area segment in Gwinnett County, GA.

Between $200k and $400k, there were 130 listings for sale, and about 19.5 months of supply.  As strong as the under $200k segment is… this one is that weak.  The 3 sales were a considerable drop from last month’s 10 sales and last year’s 15 sales.  Of course, this segment has always seemed to lag.

From $400k to $600k, there were 32 homes on the market. The absorption rate is around 8.7 months.  The Absorption Rate has been dropping for 5 months.  This is odd considering the performance of the next segment down, but totally in line with the <$200k segment.  April’s 2 sales are down from 5 the month before, and doesn’t compare favorable to last year’s 4 sales… but the inventory decrease really helped.

In the $600k to $800k arena, there was 1 listing on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate is at 3 months of inventory… but with only 4 sales last year and then the sale in March, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there is only 1 listing.  Only.

The range from $800k to $1m, there was 1 homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  The single sale in January (first since October) has pushed the Absorption Rate down to 18 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross 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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Norcross, GA, Market Report, March 2011

Thursday, 05 May 2011 08:35
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Market stats for Norcross GA, March, 2011 indicate that there were 399 properties on the market. Overall, there is about a 8.4 month supply of properties. January was a powerhouse…  February continued the trend, although not quite as powerful.  March was a breakout month (59 v 44 last year).  This is one of the few market areas in Gwinnett to post three strong months in a row.

In the sub-$200k arena, there were 235 listings, with about 6.6 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (43 v 31).  November and December were weak, but January, February and March have shown a powerful reversal in that trend.  And with an Absorption Rate in the mid-6 month range, this price/location segment is bordering on balanced.  It has been quite a while since I have been able to say that…

Between $200k and $400k, there were 118 listings for sale, and about 16.1 months of supply.  Sales had been down and slowing for the last few months, but lower inventory levels made things look better.  Sales bumped up well above last month… and almost to last year’s level, so despite the increase in listings, the Absorption Rate dropped.

From $400k to $600k, there were 41 homes on the market. The absorption rate is around 10.3 months.  Inventory has been rising for the last three months, as have sales (4 months for sales, actually).  And the Absorption Rate has been dropping for 4 months.  Still has a little way to go, but I love that it is getting stronger every month.

In the $600k to $800k arena, there were 2 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate is at 6 months of inventory… but with only 4 sales last year and then the sale in March, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there are only 2 listings.  Only.

The range from $800k to $1m, there were no homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  The single sale in January (first since October) has pushed the Absorption Rate down to just 9 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross Market Data.

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Norcross, GA, Market Report, February 2011

Thursday, 07 April 2011 22:17
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Market stats for Norcross GA, January, 2011 indicate that there were 382 properties on the market. Overall, there is about a 9.6 month supply of properties. January was a powerhouse… unlike most of the areas in Gwinnett, with 41 sales v just 29 last January.  February continued the trend, although not quite as powerful.  There were 43 sales in Norcross this year v 36 last February.

In the sub-$200k arena, there were 231 listings, with about 7.8 month supply.  Sales are up from a year ago in this segment, which is the main driver of sales in this area (32 v 23).  So, the segment is still looking pretty strong for January and February, despite the weakness of sales in November and December.

Between $200k and $400k, there were 108 listings for sale, and about 17.1 months of supply.  Sales have been down and slowing for the last few months, but lower inventory levels have really made things look better.  If it is all because of a hold on foreclosures from late last year, then we will see bloodshed again, otherwise, we could be seeing a recovery.

From $400k to $600k, there were 37 homes on the market. The absorption rate is around 11.1 months. Much of the perception of strong Absorption Rates is from shrinking inventories.  But, for the record, sales for January were at 3 for both 2011 and 0 for 2010 and February had an increase from 2 to 4 sales for this year.

In the $600k to $800k arena, there were 3 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate (12 month average) is at 9 months of inventory… but with only 4 sales last year, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there are only 3 listings.  Only.

The range from $800k to $1m, there were no homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  The single sale in January (first since October) has pushed the Absorption Rate down to just 9 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross Market Data.

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Norcross, GA, Market Report, January 2011

Thursday, 17 March 2011 08:04
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Market stats for Norcross GA, November, 2010 indicate that there were 384 properties on the market. Overall, there is about a 10.9 month supply of properties. November was a thrashing… 30 v 47 in 2009.  December was better, but still only 35 sales for Dec 2010 compared to 41 the year prior.  January was a powerhouse… unlike most of the areas in Gwinnett, with 41 sales v just 29 last January.

In the sub-$200k arena, there were 238 listings, with about 8.4 month supply.  Sales are up a good bit from a year ago in this segment, which is the main driver of sales in this area (25 v 19).  So, the segment is still looking pretty strong, despite the weakness of sales in October, November and even December.

Between $200k and $400k, there were 108 listings for sale, and about 25 months of supply.  Sales have been down and slowing for the last few months.  November was a really bad month (1 v 11), December was down, 7 v 10 sales and January was down, 5 sales in 2011 v 10 in 2010.

From $400k to $600k, there were 33 homes on the market. The absorption rate is around 14.1 months. Much of the perception of strong Absorption Rates is from shrinking inventories.  But, for the record, Sales for January were at 3 for both 2011 and 0 for 2010.

In the $600k to $800k arena, there were 2 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate (6 month average) is at 12 months of inventory… but with only 4 sales last year, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there are only 2 listings. 

The range from $800k to $1m, there were no homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  The single sale in January (first since October) has pushed the Absorption Rate down to just 6 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross Market Data.

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