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Category Archives: sugar hill

Sugar Hill, GA, Market Report, November 2012

Tuesday, 19 February 2013 11:00
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Market stats for Sugar Hill, GA , November, 2012 indicates that there were 124 homes on the market. An increase of 2 from last month. Overall, there is about an 3.9 month supply (4.1 last month). There were 28 sales, compared to 36 last month and 34 last November. Of course, then there were 173 listings on the market.

For Sugar Hill homes priced under $200k, there were 77 listings, with about 3.1 months supply. There were 22 sales this November, below last year for the same time (29). There were 28 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 41 listings for sale, and about 6.5 months of supply. Last November there was a 31.5 month supply. There were 2 sales then, this year there were 5. Last month had 7 sales. That makes three of the last five months look reasonably strong.

For listings in the $400k to $600k range, there were 4 homes on the market. The absorption rate was around 6.0 months, but with 1 sale this month (and May, August and October 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 only 2 homes listed for sale in that price range. 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.

Atlanta Metro Zillow Home Value Index

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Sugar Hill, GA, Market Report, October 2012

Thursday, 07 February 2013 11:00
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Market stats for Sugar Hill, GA , October, 2012 indicates that there were 122 homes on the market.  A decline of 6 from last month.  Overall, there is about an 4.1 month supply (4.6 last month).  There were 36 sales, compared to 31 last month and 18 last October.  Of course, then there were 169 listings on the market.

For Sugar Hill homes priced under $200k, there were 81 listings, with about 3.6 months supply.  There were 28 sales this October, well above last year for the same time (18).  There were 24 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 36 listings for sale, and about 5.7 months of supply.  Last October there was an 33 month supply.  there were 0 sales, this year there were 7.  Last month had 7 sales.  That makes four of the last five months look reasonably strong.

For listings in the $400k to $600k range, there were 2 homes on the market. The absorption rate was around 4.5 months, but with 1 sale this month (and May and August 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 only 2 homes listed for sale in that price range. 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.

Atlanta Metro Zillow Home Value Index

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Yep… A Seller’s Market. But What Does That Mean NOW?

Tuesday, 05 February 2013 09:00
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Supply and Demand

Supply and Demand (Photo credit: ATENCION:)

Normally, a Seller’s Market means that conditions are generally better for sellers than for buyers.  There is, in effect, more demand than there is supply.  And, usually, that means that sellers are more in control of pricing and terms for their homes.  Prices generally rise and there are fewer demands made upon sellers in regards to inspections, and other concessions.

 

But things aren’t always “normal”.  Now is a great example of that.

Right now, the majority of Gwinnett is solidly in Seller’s Market territory.  Below about half a million dollars, Absorption Rates remain under the magical 6 months… in some cases, even below 3 months.  Above half a million, things aren’t quite as rosy, but they are WAY stronger than they have been for years.

But all is not beer and pizza in Seller Land.  In fact, it may be FAR from fun to be a seller in today’s market, no matter what the numbers look like.  The reality is that bank-owned properties are skewing the numbers… or skewering, depending on how you want to look at it.  What has happened is that bank-owned inventory has come to dominate the market.  It may or may not be the majority, but there is enough of a presence that it pushes the pricing down for all of the homes that are actually selling.

Whether this is a good thing or a bad thing depends on whether you are a buyer or a seller.  As a buyer, it means that the homes you look are are either priced quite competitively (and don’t stay on the market very long) or they aren’t… and they stay on the market forever.

One of the ways that I can see this is by looking at the “Days on Market” (DoM) stats while preparing Market Reports.  They are jumping ALL over the place.  This isn’t a direct sign, but rather one that is more deduction.  In some segments I am seeing DoMs bounce from over 100 days to under 50 days and back over 100 in back to back to back months.  This means that homes that every once in a while a home that sells has been on the market a VERY long time… pushing up the average, then there are none of those “old-timers” the next month… then another one pops through.

What does it all mean?

Simply… as a buyer, if you see a home you like, and it is priced well, there will likely be competition for it.  Don’t expect that you can toss a low offer across the table and get a reply.  In fact, I have seen a LOT of multiple offer situations on well-priced properties.  As a seller, don’t expect that you can price your home at the level you thought it was worth a few years ago.  You are competing with bank-owned properties and their primary motivation is to not own the property any longer than they need to in order to almost break even… and their definition of break even may include insurance payments and government inducements to hurry up and sell it.

One may say that the worst aspects of both a seller’s market and a buyer’s market are present right now… fierce competition (for buyers) for the “right” properties and weak pricing for sellers).

If you really want to sell your property, let’s talk…

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Sugar Hill, GA, Market Report, September 2012

Monday, 28 January 2013 11:00
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Market stats for Sugar Hill, GA , September, 2012 indicates that there were 128 homes on the market. A decline of 16 from last month. Overall, there is about an 4.6 month supply (4.7 last month). There were 31 sales, compared to 22 last month and 27 last September. Of course, then there were 199 listings on the market.

For Sugar Hill homes priced under $200k, there were 87 listings, with about 4.1 months supply. There were 24 sales this September, slightly under last year for the same time (25). There were 16 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 34 listings for sale, and about 5.1 months of supply. Last September there was an 33 month supply. Then there were 2 sales, this year there were 7. Last month had 5 sales. That makes four of the last six months look reasonably strong.

For listings in the $400k to $600k range, there were 4 homes on the market. The absorption rate was around 12 months, but with 0 sales this month (and May and August single sales being the only ones 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 only 3 homes listed for sale in that price range. 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.

Atlanta Metro Zillow Home Value Index

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Sugar Hill, GA, Market Report, August 2012

Wednesday, 16 January 2013 08:00
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Market stats for Sugar Hill, GA , August, 2012 indicates that there were 144 homes on the market. Overall, there is about an 4.7 month supply. There were 22 sales, compared to 31 last month and 33 last August. Of course, then there were 202 listings on the market.

For Sugar Hill homes priced under $200k, there were 103 listings, with about 4.5 months supply. There were 16 sales this August, well under last year for the same time (31). There were 23 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 35 listings for sale, and about 4.8 months of supply. Last August there was an 11 month supply. Then there were 2 sales, this year there were 5. Last month had 8 sales. That makes five of the last six months look reasonably strong.

For listings in the $400k to $600k range, there were 3 homes on the market. The absorption rate was around 9 months, but with 1 sales this month (and May’s 1 sale being the only ones 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 only 3 homes listed for sale in that price range. 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.

Atlanta Metro Zillow Home Value Index

Related articles
Enhanced by Zemanta
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