Last week I posted an infographic from Active Rain saying that Real Estate is Back… Here is another one from 29doors that makes it look like in Georgia, it isn’t so much. But, looking at the market reports for Gwinnett, as well as Case-Schiller numbers for the Atlanta statistical area, prices look to be up year over year by more than 9%. That tells me that there are some places in Georgia that are still pretty slammed. What do you think?
I have been saying it for a few months now… and it has been pretty apparent in the Gwinnett County area. Real Estate is back. This nifty infographic from Active Rain, where I am an Ambassador (I help other agents more effectively blog and such…) shows that agents across the country are really starting to feel confident that real estate is again strong.
As mentioned here during the depths of the down-turn, we wouldn’t really know that the market had turned until it was done. And just because I, and a few thousand of my real estate peers feel like real estate has returned to normal doesn’t mean that it can’t be derailed. But, for now…
Data provided by ActiveRain, the #1 social community for real estate professionals.
Image via Wikipedia
Market stats for Sugar Hill, GA , January, 2013 indicates that there were 105 homes on the market. Flat from last month. Overall, there is about an 4.3 month supply (3.4 last month). There were 16 sales, compared to 29 last month and 20 last January. Of course, then there were 159 listings on the market.
For Sugar Hill homes priced under $200k, there were 60 listings, with about 3.4 months supply. There were 13 sales this January, below last year for the same time (18). There were 18 sales last month. Inventories have been fluid, rising and falling. This time of year we often see a slight decrease in listings… but we are already very low. In fact, sales may be stifled by lack of inventory. Christmas slowed things down, as usual.
Sugar Hill Listings between $200k and $400k, there are 41 listings for sale, and about 7.2 months of supply. Last January there was a 10.1 month supply. There were 2 sales then, this year there were also 2. Last month had 10 sales. That makes three of the last five months look reasonably strong. We are in a slight Seller’s Market here again when the Holiday slowdown is over.
For listings in the $400k to $600k range, there were 4 homes on the market. The absorption rate was around 4.0 months, but with 1 sale this month, it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. I’ve finally started to see some consistency here. Hopefully we’ll have a little more action during the Spring selling season.
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 were 0 homes listed for sale in these price ranges. No sales have been recorded in the last 2+ years.
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.
Image via Wikipedia
Market stats for Sugar Hill, GA , December, 2012 indicates that there were 105 homes on the market. An increase of 2 from last month. Overall, there is about an 3.4 month supply (3.9 last month). There were 29 sales, compared to 28 last month and 31 last December. Of course, then there were 158 listings on the market.
For Sugar Hill homes priced under $200k, there were 64 listings, with about 2.8 months supply. There were 18 sales this December, below last year for the same time (24). There were 22 sales last month. Inventories have been fluid, rising and falling. This time of year we often see a slight decrease in listings… but we are already very low. In fact, sales may be stifled by lack of inventory.
Sugar Hill Listings between $200k and $400k, there are 38 listings for sale, and about 5.2 months of supply. Last December there was a 11.3 month supply. There were 7 sales then, this year there were 10. Last month had 5 sales. That makes three of the last four months look reasonably strong. We are in a slight Seller’s Market here.
For listings in the $400k to $600k range, there were 3 homes on the market. The absorption rate was around 3.0 months, but with 1 sale this month (and May, August, October and November single sales being the only others since last November), it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. I still hope to see some consistent activity in this segment.
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 were 0 homes listed for sale in these price ranges. No sales have been recorded in the last 2+ years.
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.
I’m making a big change for the market reports from January, 2013, forward.
English: Chart showing the median and average sales prices of new homes sold in the United States by month/year. Based off of US Census Median and Average Sales Price of New Houses Sold Data. Please note that the sales price includes land. Also, the average from 1963-1974 inclusively, is annual, and not monthly. (Photo credit: Wikipedia)
Instead of tracking average Days on Market (DoM), I’m going to track median DoM. It might not seem like much of a change, but I’m seeing segments where the average is 100+ days, while the median 50 or 60 days. The reason for this is that the average is giving too much weight to a few outlier properties that might have 500 or more days on the market.
A while back, FMLS, the primary provider of the data I analyze, changed the way THEY calculated DoM. The started tracking the property for total days on market instead of just the most recent listing.
While FMLS’s policy change made the data more accurate for individual listings, it also made it much less relevant for the market trends. The median data is more accurate for market trends because it lowers the effects of the outliers.
I discontinued posting the DoM data in the market reports a while back because it ceased being useful, but I have continued to track it. Moving forward, while I still probably won’t include the DoM data directly in the reports, I will allude to it as I see trends develop.
Enjoy…
