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Market stats for Lilburn, January, 2011, indicates that there are 414 properties on the market (as of January 31st). Overall, there is about a 12.3 month supply of properties. Lilburn is actually mid-pack among cities in Gwinnett County. The Absorption Rates had been getting worse since August, but December clocked an improvement from November. January was back to the downward slide. But January is normally a rough looking month, since sales slow at the end of December and there are fewer closing scheduled for January. In March there were 15.3 months of inventory.
In the sub-$200k arena, there are 276 listings, with about an 9.7 month supply. This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March, until October. Sales were drastically higher than January 2010 (26 v 18). The Absorption Rate is slightly better than last year, too (10 months of inventory in January, 2010).
Between $200k and $400k, there are 119 listings for sale, and about 23.8 months of supply. This segment has been quite weak for months. Having 0 sales in December, and only 6 in November didn’t help. Nine sales in January was HUGE. For comparison, in January, 2010 there were 4 sales. The strong sales in January pushed the Absorption Rate down substantially from 28.5 months, in December, 2010.
From $400k to $600k, there are 14 homes on the market. The absorption rate is around 42 months. There were no sales in this segment in May, June, July, October or December this year. There were only 4 sales in August and September(combined). November had 1 sale (2 last year). Last summer was much stronger overall. With just a few sales, just one or two can make a huge difference. The improvement is due solely to the reduction in listings.
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. There has been one sale in the last five months, but prior, there had only been a few other sales in 2010 (January, March and August). One of the listings is above $1M (none between $800k and $1M), 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.
In 2010, sales for January were only at 111, so 148 is a 33% increase, year over year. The Absorption Rate increasing from 9.9 months to 10.6 months is due to lower month over month sales, as well as the increase in listings.
