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Category Archives: gwinnett

Duluth, GA, Market Report, June 2011

Tuesday, 26 July 2011 08:28
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Office building of NCR Corporation in Duluth, ...

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Preliminary stats for Duluth, June, 2011 indicated that there were 593 properties on the market. Overall, there is about an 8.9month supply of properties.  Sales in June were 60, compared to 68 a year earlier.  Sales were down compared to both the prior year and the prior month.  Duluth is trailing Gwinnett County as a whole.In the Under $200k arena, there were 249 listings in Duluth, GA, with about a 6.5 month supply.  The Absorption Rate as recent as December, 2009, was in the low 5s.  Sales for June were up sharply this year v last year (41 v 23), but only slightly up compared to May, 2011 (37).  This segment could do really well, but sales need to strengthen a little more…

Between $200k and $400k, there are 152 listings for sale, and about 9.5 months of supply.  Absorption rates have similarly risen, dropped and then risen again, but have been moving the right way (down) since February.  Sales were way down compared to June, 2010 (13 v 20).  Duluth is a market that favors luxury, and this segment is weak…

From $400k to $600k, there were 52 homes on the market. The absorption rate was around 13.4 months.  Two months ago I wrote “Sales might not seem that strong, with only 5 units, especially compared to 8 last year, but I think the problem is with the inventory.  I’ll keep looking for an increase in sales.  Maybe April will show it.”  April did NOT show it.  Sales DIVED to just 1 unit.  May and June, on the other hand, brought in 2 sales each.  There were 10 last year.

In the $600k to $800k arena, there were 59 listings, with about 13.4 months of supply.  Sales were 0 for June… 7 for June last year.  Month to month sales dived (0 v 3).  I was hoping for somewhere around 12-15 sales for June to show me this segment was coming back… but sales didn’t nudge off the empty mark.

In Duluth, GA, from $800k to $1m, there were 28 homes listed and approximately 14 months of inventory on the market.  The 1 sale recorded for June was dwarfed by last year’s 4 and dropped 2 from last month.  Sales haven’t been moving the right way for the last couple of months.

Above $1m, there were 47 properties listed. The current absorption rate indicated about 17.6 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  There were 8 sales in the Apr-Jun period this year, and 12 sales for the same time last year…  The whole summer was weak last year, but we should be posting half a dozen sales a month here.

Duluth, GA is a suburb of Atlanta, in the heart of Gwinnett County. It actually straddles the county line and has unincorporated portions in South Forsyth County. The population of Duluth is estimated as about 26,000 people as of 2008, but this doesn’t include unincorporated areas outside the city limits, but with a Duluth mailing address. It is also home to Sugarloaf Country Club, a PGA stop until recently.  Forbes Magazine rated Duluth 26th in their nationwide survey of the best places to move, and it is one of the wealthiest parts of Georgia.  It is also home to the Arena at Gwinnett Center (Home of the ECHL Gwinnett Gladiators) and the Atlanta Thrashers practice facility (the Duluth Ice Forum). There is a LONG list of celebrities and athletes that call Duluth home, largely because of the country clubs and proximity to Atlanta.

I have a page dedicated to Duluth Market Information.

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Lawrenceville, GA Market Report, June 2011

Thursday, 21 July 2011 08:00
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Gwinnett County Historic Courthouse, Lawrencev...

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Market stats for Lawrenceville, June, 2011, indicate that there were 1548 properties on the market. Overall, there was about a 6.05 month supply of properties. In 2010, sales for June were at 222, so 276 sales was a pretty good increase, year over year.  Coupled with the slight decrease in inventory, things are looking up.  Normally at this time of year we should be seeing healthy increases in month to month sales.

For Lawrenceville, GA, Homes Under $200k, there are 1309 listings, with about an 5.5 month supply of homes.  Sales were way up from June 2010 (254 v 192).  This segment is easily the lion’s share of sales for the area.  Last month this was one of the strongest price/area segments in Gwinnett County.  This month it is strong, but not AS strong.  The big drop in Absorption Rate (AR) is due to strong sales, coupled with slightly lower inventories.

Between $200k and $400k, there are 205 listings for sale, and about 10.8 months of supply.  Oddly, this was one of the weakest segments in the county, again.  The 21 sales for June, 2011 were down from the 28 from June last year.  Sales should have been closer to 30 (if not 40) units for June, and I’d like to see over 30 for July.

From $400k to $600k, there are 26 homes on the market. The absorption rate is around 78 months.  However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  Case in point is that we went from a 12 month AR to a 78 month AR because of a lack of sales for the last 3 months (there was 1 sale in June).  Just 6 months ago there was 87 months of inventory, though…

In the $600k to $800k arena, there are 5 listings, with about 10 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there was only 1 sale in the last four months.  I was hoping for 2 sales in June… and there were none.  It has been quite a while since sales were strong here… the only saving grace is low inventory.

Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. There has only been one sale in this range in the last 2 years (Aug, 2010), according to FMLS.

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.

I have a page dedicated to Lawrenceville Market Data.

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Wayback Wednesday… Let’s Go Scouting!

Wednesday, 20 July 2011 08:34
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Boy Scouting (Boy Scouts of America)

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Can you believe that we are only a couple of weeks away from the start of school here in Gwinnett County?  Well… we are.

So this is the perfect time to think about getting involved in Scouts.  Cub Scouts, Boy Scouts, Girl Scouts, Venturing, etc.  Now, there might be a membership drive at your child’s school in a few weeks, but there is a great reason to get involved a little early… that is when the best volunteer opportunities are still available.  And you REALLY should volunteer (as a parent).

There are a lot of things that go into Scouting that are all but invisible behind the scenes.  In addition to things like Cub Masters and Scout Masters, there are loads of Committees, both at the Pack/Troop level, and at the District level.  And if those jobs don’t get done, neither do the camping trips or the meetings or anything else.

There is another HUGE benefit to Scouting… and this is for your child…  Responsibility, Maturity and Confidence.  They learn these traits and more.  And they learn it best when YOU are there next to them… teaching those traits.

The other day on the radio I was listening to a host talk about the (lack of) quality he saw in the “boys” his daughters were dating.  There were several calls from parents agreeing… and a couple of them were from parents with boys noting the same observation with the girls that their sons dated.  The parents with sons that were actually accomplishing things also mentioned that their boys had been Scouts…  Eagle Scouts.

For girls, Gold Award Scouts have the same distinction as Eagles.  It is a true accomplishment, one that will follow them for life.

So… find your local Scouting group… get involved.

Here is a post I wrote last year about how excited my son was with getting started in Cub Scouts.  He is still involved, we are still involved and we are all looking forward to a new year… with a new Cub Scout Pack (we just moved).

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Lilburn, GA Market Report, June 2011

Tuesday, 19 July 2011 08:36
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Dominique Wilkins during Euroleague semifinal ...

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Market stats for Lilburn, GA, June, 2011, indicates that there were 454 properties on the market (as of June 30th). Overall, there was about an 8.5 month supply of properties and 63 properties that closed (sold) in June.  I had been looking for another increase in sales for June and it came through.  And it was an increase over last year’s sales (51) and May, 2011 (54 sales).  The Absorption Rate notched down slightly.  Unfortunately, Lilburn is among the weakest of Gwinnett County, GA, cities I track.

In the sub-$200k arena, there were 309 listings, with about an 7.7 month supply with 48 sales.  This represents most of the sales in the market area.  Sales rose slightly from last month (41), but were more above last year (38).  The Absorption Rate dropped only slightly from 7.9 to 7.7 months of inventory.  This is even a slight improvement over the tax credit fueled buying of this time last year.  If the pace maintains for the next two months, it could mean that Lilburn, GA, is on the verge of a turn.

Between $200k and $400k, there are 132 listings for sale, and about 11.o months of supply.  This segment has been quite weak for months, but has picked up a little strength.  May was a strong follow up to April, which was HUGE… 11 sales compared to just 9 last year.  June pulled down 14 sales, slightly above last year’s 13 homes sold.  If July stays strong (14-15 sales), this could signal a return to a more balanced segment… and Lilburn has been missing that.  (last month I said…) I’ll be looking for around 14 sales for June…  ;^ )

From $400k to $600k, there are just 8 homes on the market. The absorption rate is 6.0 months. There were no sales in this segment from December through February, but there were 2 in March, which really turned the segment around, followed by 1 sale for April.  May posted 2 sales, and there was 1 sale in June.  It doesn’t seem like much, but this is a segment hasn’t posted that many months with back to back sales…  This is the first time sales have been sales posted four months in a row since 2009.

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.

I have a page dedicated to Lilburn Market Data.

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Norcross, GA, Market Report, May 2011

Tuesday, 12 July 2011 08:16
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This map shows the incorporated and unincorpor...

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Market stats for Norcross GA, May, 2011 indicate that there were 385 properties on the market. Overall, there is about a 7.2 month supply of properties. This year has been very strong so far… although it has slowed the last two months… it hasn’t slowed much.  May saw 52 sales, slightly above the 49 for April and the 48 for last May, but with the slight 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 225 listings, with about 5 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (39 v 32).  For the last two months, the AR has been 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 120 listings for sale, and about 18 months of supply.  As strong as the under $200k segment is… this one is that weak.  The 7 sales were a considerable drop from last year’s 13 sales, but a good bump from last month’s 3 sales.  Of course, this segment has always seemed to lag.

From $400k to $600k, there were 34 homes on the market. The absorption rate is around 8.5 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.  May’s 5 sales are down from 2 the month before, and compares favorable to last year’s 2 sales… and 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 1.5 months of inventory… but with only 4 sales last year and then the sale in March and another in May, 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.  For June there are 8 listings… expect a major change in this segment.

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

Above $1m, there were 4 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 24 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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