5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

811 Flathead Pass

Suwanee, GA 30024

$1975000
Exquisite stone home. Quiet cul-de-sac. 1+/- acres. Impeccable detail + finishes, motor court w 6-car garage. Dormer windows w diagonal panes, peaked arches accent old world architecture. Entry offers views of dining rm + 2-story fireside great rm w 16' windows + flanking bookcases. Arched 8' French doors + 14' ceiling in fireside library. Chefs kitchen w generous counterspace, walk-in pantry, opens to fireside keeping rm w walls of windows + coffered ceiling. Owners suite w 14' ceiling, fireplace, luxury closet 'for her', spiral stairs to 'his closet' + exercise space,

Summary

MLS #5756560
Price1975000
Bedrooms6
Bathrooms (Full)6
Square Footage8200
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

7 Bed / 6 Bath Home in The River Club

4508 Lochsa Lane

Suwanee, GA 30024

$1490000
Lovely custom brick & stone home in THE RIVER CLUB. Fantastic floor plan W/2 story foyer & LR, executive office, volume ceilings, curved staircase + rear stairs. Beautiful kitchen w/Wolf/Subzero/Bosch/Double ovens & Walk in pantry integrated into cabinetry - overlooks keeping rm w/FP & wood plank ceiling. Guest Suite on Main Level, 4 ensuite BR's up, and 2 BR/1 BA on terrace level along with bar, theater rm (includes equipment) & rec rm. Rear grounds are stunning w/large brick & stone patio, FP, stone pizza oven, grill, sink, stunning hot tub spills over into pool.

Summary

MLS #5743797
Price1490000
Bedrooms7
Bathrooms (Full)6
Square Footage8116
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1488888
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1488888
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1426000
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1426000
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

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Category Archives: norcross

Zestimate Accuracy in the Atlanta GA Area…

Representation of high accuracy and low precision.
Image via Wikipedia

Ever since they were first introduced, Zillow’s ‘Zestimates’ have created a stir.  Some herald them, while other decry them.  But, Zillow’s Zestimates are a great tool for homeowners and those looking at buying, whether they are familiar with the area or not.

But the Zestimates DO have a limit.  They aren’t terribly accurate.  On the good side, though, Zillow is nice enough to tell us how accurate they are for some areas.  But, even the accuracy may need to be interpreted.

Let’s see if we can shed some light on Zestimate accuracy for the Atlanta, GA, area. For the sake of this example let’s assume that the Zestimate is exactly $200,000.  This is a nice, round number that makes calculations easier.

  • Median error for the Atlanta area is 15.3%.  That means that half of the homes have an error of less than 15.3%, while half have an error higher than 15.3%.  In other words, half of the homes that would be valued at $200,000 are worth between $169,400 and $230,600.  the other half are worth more than $230,600 or less than $164,900 (should be around 25% too high, 25% too low).
  • About 58% are actually worth between $160,000 and $240,000.
  • About 36% are worth between $180,000 and $220,000.
  • Only 19% are worth between $190,000 and $210,000.

The bottom line is that Zestimates, in the Atlanta area, are pretty rough.  There is only a 1 in 5 chance of the home’s value being within 5% of the Zestimate.  In other words, it is not a precision tool…

In my experience, most sellers are sure that the Zestimate is too low, and most buyers are convinced it is too high.  It is just as likely to be one as the other…

But Zestimates ARE still useful…

Like any tool, they need to be used the right way.  My Zillow contacts (and I have met and enjoyed talking with several of the fine folks at Zillow) have stated that the distribution of Zestimate error is just as likely to be high as low.  Look at the target in the graphic.  None of the shots hit the center of the target… but the AVERAGE of them is quite close.  And the same holds true of Zestimates.

Taken as a whole, when looking at larger areas (the larger, the better), they provide a very accurate look at the broader market.  But, as we narrow down to more specific areas, they get cloudier and cloudier.

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Norcross, GA, Market Report, October 2010

Norcross shopping district and downtown
Image via Wikipedia

Market stats for Norcross, October, 2010 indicate that there were 390 properties on the market. Overall, there is about a 8.5 month supply of properties. October and September sales were down v 2009 (42 v 57 and 43 v 55), but August was way up (52 v 43).  Overall, the market isn’t terrible here, looking back.

In the sub-$200k arena, there were 211 listings, with about 6.3 month supply.  Sales are way down from a year ago in this segment, which is the main driver of sales in this area.  But the segment is still looking pretty strong, despite the weakness in July and September and relative weakness of sales in October.

Between $200k and $400k, there were 133 listings for sale, and about 14.8 months of supply.  Sales have been down and slowing for the last few months.  But October was down (4 v 13 last year).  With the increase in inventory.

From $400k to $600k, there were 40 homes on the market. The absorption rate is around 15 months.  Sales have actually been strengthening since March (with a few ups and downs…), but much of the perception is from shrinking inventories.  Actual sales have been mostly decelerating.  I expect to see the numbers move the other way in the next few months.

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 (three month average) is at 9 months of inventory… but with only 4 sales this year, obviously it is easy to bump one way or the other.

The range from $800k to $1m, there were 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.  There have been three sales in the last year (Nov 09, Apr 10 and Sept 10).

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, September 2010

This map shows the incorporated and unincorpor...
Image via Wikipedia

Market stats for Norcross, August, 2010 indicate that there were 375 properties on the market. Overall, there is about a 8.3 month supply of properties. September sales were down v 2009 (43 v 55), but August was way up (52 v 43).  Overall, the market isn’t terrible here, looking back.

In the sub-$200k arena, there were 192 listings, with about 6.2 month supply.  Sales are way down from a year ago in this segment, which is the main driver of sales in this area.  But the segment is still looking pretty strong, despite the weakness in July and September.

Between $200k and $400k, there were 136 listings for sale, and about 12.4 months of supply.  Sales have been down and slowing for the last few months.  But September was up slightly (14 v 12 last year).  With the increase in inventory, I think October might be rough, too.

From $400k to $600k, there were 39 homes on the market. The absorption rate is around 13 months.  Sales have actually been strengthening since March (with a few ups and downs…), but much of the perception is from shrinking inventories.  Actual sales have been mostly decelerating.  I expect to see the numbers move the other way in the next few months.

In the $600k to $800k arena, there were 4 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate (three month average) is steady at 12 months of inventory… but with only 4 sales this year, obviously it is easy to bump one way or the other.

The range from $800k to $1m, there were 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.  There have been two sales in the last year (Nov 09 and Apr 10).

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, August 2010

Norcross shopping district and downtown
Image via Wikipedia

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.

Market stats for Norcross, August, 2010 indicate that there were 386 properties on the market. Overall, there is about a 7.5 month supply of properties. August sales were actually v 2009, but July was way down (June was up slightly).  Overall, the market isn’t terrible here, looking back.
In the sub-$200k arena, there were 208 listings, with about 5.9 month supply.  Sales are up from a year ago in this segment, which is the main driver of sales in this area.  And the segment is looking pretty strong, despite the weakness in July.

Between $200k and $400k, there were 131 listings for sale, and about 10.6 months of supply.  Sales have been down and slowing for the last two months.  I think we are going to see growing absorption rates for September, as well.

From $400k to $600k, there were 38 homes on the market. The absorption rate is around 12.7 months.  Sales have actually been strengthening since March (with a few ups and downs…), but much of the perception is from shrinking inventories.  Actual sales have been decelerating.  I expect to see the numbers move the other way in the next few months.

In the $600k to $800k arena, there were 5 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate (three month average) is steady at 5 months of inventory… which is amazingly strong… but with only 4 sales this year, obviously it is easy to bump one way or the other.

The range from $800k to $1m, there were 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.  There have been two sales in the last year (Nov 09 and Apr 10).


I have a page dedicated to Norcross Market Data.

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

DSCN0559
Image by lane.bailey via Flickr

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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