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Category Archives: gwinnett

Norcross, GA, Market Report, November 2010

Monday, 03 January 2011 08:31
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Market stats for Norcross, November, 2010 indicate that there were 386 properties on the market. Overall, there is about a 10.3 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).  November was a thrashing… 27 v 47 in 2009.

In the sub-$200k arena, there were 215 listings, with about 7.5 month supply.  Sales are down significantly from a year ago in this segment, which is the main driver of sales in this area (25 v 34).  But the segment is still looking pretty strong, despite the weakness in July and September and relative weakness of sales in October and November.

Between $200k and $400k, there were 127 listings for sale, and about 20 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.  November only had 1 sales, v 11 last year.

From $400k to $600k, there were 39 homes on the market. The absorption rate is around 19.5 months. Much of the perception of strong Absorption Rates 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.

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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 4 months of inventory… but with only 4 sales this 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 1 homes listed on the market and no sales… seemingly forever.

Above $1m, there were 2 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 (Apr 10 and Oct 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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Buford, GA, Market Report, November 2010

Tuesday, 28 December 2010 08:15
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Market stats for Buford, GA, November, 2010 indicate that there were 584 properties on the market. Overall, there was about an 11.2 month supply of properties.  September was slightly below last year (52 v 60 for 2009).  October was back to the pits (60 v 89 in 2009).  November this year had 44 sales v 67 in 2009.  There were 83 sales in June and an Absorption Rate under 8.5 months.

In the sub-$200k arena, there were 318 listings, with a 9.6 month supply.  October sales were down from 51 in 2009 to 37 this year.  May was the best absorption rate of the year, and it has been going downhill since, but actually got better in October.  It is sliding down again.  Sales for November were 29 this year compared to 40 last year.

Between $200k and $400k, there were 206 listings for sale, and about  11.6 months of supply.  Again, July was the dog, with sales down by 75%.  August, September and October were also down, but the absorption rate improved significantly with July dropping off.  November was off by 35% (13 sales v 20 in 2009).

From $400k to $600k, there were 38 homes on the market. The absorption rate is almost 5 years.  This shouldn’t be acting like a high-end luxury segment, but it is.  There have been 2 sales in the last 3 months.  When the market is rolling, there should be 5-7 sales a month during this part of the year.  There were 5 sales in November, 2009… and 1 this year.

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In the $600k to $800k arena, there were 7 listings.  Sales in this range are pretty sporadic, but steady when looking at the long-term.  The drop in inventory over the last few months from 14 homes to 7 homes has made things look less slow… but there have been 3 sales in this segment since last November… but one was this November.

The range from $800k to $1m, there were 5 homes listed. And with only 1 sale in the last year (Feb 10), obviously  trends are hardly definable.  At least listings are down by more than 50% compared to a few months ago (9 listings in June).

Above $1m, there were 11 properties listed.  The last sale in the segment was in April… of 2009… still…

Buford, GA is a suburb of Atlanta in Gwinnett and Hall Counties. The population is 2000 was 10,668, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Buford is home to Lake Lanier, one of Georgia’s premiere recreational areas, and Lake Lanier Islands.  Recently, the City of Buford has revamped their old town. It is also home to Buford (Buford City Schools aren’t a part of Gwinnett County Schools), Mill Creek, Mountain View and Lanier High School (Lanier will open for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

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Sugar Hill, GA, Market Report, November 2010

Tuesday, 21 December 2010 08:59
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Market stats for Sugar Hill, GA , October, 2010 indicate that there are 239 properties on the market. Overall, there is about an 12.3 month supply of properties.  Sales have been fairly steady since July, but inventories have been rising.

In the sub-$200k arena, there are 160 listings, with under 13.3 months supply.  Sales are also about 65% of the level last year over the last three months.  Sales appear to be decelerating, but perked up for October… still down 10 v 17 compared to last year.

Between $200k and $400k, there are 67 listings for sale, and about 13.4 months of supply.  As recently as May, there was only a 6.75 month supply.  September was better than August, but still pretty weak overall.  October was weaker yet… But November was looking better…

From $400k to $600k, there are 8 homes on the market. The absorption rate is around 24 months, but with 1 sale in the last 6 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 3 sales in this segment this year.  Last year there were almost twice as many sales in this price range.

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In the $600k to $800k, $800k to $1m and Above $1m (combined), the sales are too inconsistent to have a solid read on, but there are only 3 homes listed for sale in that price range.  No sales have been recorded in the last 18 months or so.

Sugar Hill, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 11,399, but that only included the area inside the city limits.  The name comes from a bag of Sugar that spilled on a hill while in transit between Cumming and the railroad in Buford.  And while it is actually a big market, it is in the shadows of Lawrenceville, Duluth and Suwanee… which all are nearby.  That also makes it a great location, as it is close to everything that Gwinnett County, GA has to offer.

I have a page dedicated to Sugar Hill Market Data.

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Suwanee, GA, Market Report, November 2010

Monday, 20 December 2010 08:18
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Market stats for Suwanee, GA, November, 2010 indicate that there are 582 properties on the market. Overall, there is about an 10.9 month supply of properties.  There was less that 8 months of inventory as recently as June.  Even though inventories are down since then, sales are also down.

In the Under $200k arena, there are 156 listings in Suwanee, GA, with about a 8.5 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… October sales were down from 27 last year to 22 this year.  For November, there were 15 sales this year and 21 last year.

Between $200k and $400k, there are 285 listings for sale, and 9.8 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.  For October, sales were down from 53 last year v 31 this year.  November continued the (poor) trend with 26 sales v 41 last year.

From $400k to $600k, there are 75 homes on the market. The absorption rate is at 18.7 months.  There were 4 sales this year… dwarfed by the 10 last year.  Even looking at the three month average, there were 12 sales this year and 26 for the same period last year.

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In the $600k to $800k arena, there are 28 listings, with about a 42 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 2…  For the sale time last year, the sales were 9.

The range from $800k to $1m, there are 13 homes listed and approximately 4+ years of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

In Suwanee, GA, Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.  Again, we can thank reduced inventory for making the market look healthier (4 sales in Sept-Nov both this year and last).  But, in this segment, we should be seeing reduced inventories…  There were 45 homes listed in this segment at this time last year.

Suwanee, GA is a suburb of Atlanta in Gwinnett, Forsyth and (just a little bit) in Fulton Counties. The population is 2000 was 8,725, but that only included the area inside the city limits, and it had seen tremendous growth since that census.  Money Magazine rated Suwanee in the “Top 10 Best Places to Live” in 2007, and it is one of the wealthiest parts of Georgia. Recently, the City of Suwanee has revamped their old town, adding a large park with a bandshell, condos, town homes and small businesses. It is also home to North Gwinnett High School, Peachtree Ridge and Collins Hill.

I have a page dedicated to Suwanee Market Data.

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Duluth, GA, Market Report, November 2010

Saturday, 18 December 2010 08:50
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Preliminary stats for Duluth, October, 2010 indicated that there were 595 properties on the market. Overall, there is about an 11.7 month supply of properties.  Months of Inventory has been increasing for the last couple of months.  Sales in November were 54, compared to 65 a year earlier.  Don’t forget, though, there was a tax credit slated to expire at the end of November last year that was spurring sales.

In the Under $200k arena, there were 243 listings in Duluth, GA, with about a 10 month supply.  The Absorption Rate had gotten down into the high 4 month realm… and as recent as December, was in the low 5s.  In May, it was at 7.9 months and has been rising since, markedly in the last couple of months.  Sales for November were flat this year v last year (35).

Between $200k and $400k, there are 162 listings for sale, and about 12.8 months of supply.  Sales decreased from 24 in 2009 to 15 in 2010.  September sales took a big hit, but October and November were that strong, either.

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From $400k to $600k, there were 65 homes on the market. The absorption rate was around 8.1 months.  While sales haven’t been super strong, they haven’t been bad for this price segment, until October.  November tied last year, with 8 sales in the segment.  So, despite the slight increase in listings, the Absorption Rate actually dropped a little.  I keep looking back at the 5.65 month absorption rate in December… but this is still one of the better performing segments in Gwinnett County.

In the $600k to $800k arena, there were 44 listings, with about 14.7 months of supply.  Sales were 0 for September, 2010 v 4 last year and 6 in October 2010 v just 1 last year.  November had 3 sales in 2010 v 5 in 2009.  For the three months of Sept – Nov 2010 were 9 v 10 last year.

In Duluth, GA, from $800k to $1m, there were 28 homes listed and approximately 28 months of inventory on the market.  Continuously falling inventories and increased sales are fueling the increasingly favorable Absorption Rate (it was 67.5 months in February).  However, for the last couple of months the absorption rate has been on the rise again.  There were 3 sales in the last three months, this year.  Last year, there were 8 sales in the same period.

Above $1m, there were 53 properties listed. The current absorption rate indicated about 31.8 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  There were 5 sales in the Sept – Nov period this year, and only 2 sales for the same time last year… but inventories have been dropping.

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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