5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4914 Kettle River Point

Suwanee, GA 30024

$2599000
Welcome home to this Impeccable Family Retreat - you'll never have to go on vacation again! Stunning brick & stone estate situated on almost an acre of pure luxury overlooking the 4th hole. No detail has been spared inside and out with superb craftmanship on all 3 levels. Perfect home for entertaining or everyday family living. Outdoor amenities are unparalleled w/ pool, hot tub, firepit, putting green, poolside cabana w/ swim up bar. Elan system for whole house entertainment w/ control 4 for media. Master on main with Jr masters on the upper and terrace floors.

Summary

MLS #5664792
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage10597
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1499999
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1499999
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1444800
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1444800
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5192 Boulder Bluff Way

Suwanee, GA 30024

$1425000
Fabulous build opportunity with builder Pat O'Donnell. Lot is nestled in quiet cul de sac close to The River Club amenity area. 5 bed/5.1 bath home. Master suite on main with spa like bath and his/her closet. Formal dining room/study, gourmet cook's kitchen over looking the great room and outside covered veranda with fireplace. Four additional bdrms upstairs all with private baths. Live in a community that meets expectations.

Summary

MLS #5741679
Price1425000
Bedrooms5
Bathrooms (Full)5
Square Footage4571
Square Footage SourceBuilder
StatusActive

Features

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Category Archives: suwanee

How Does the Market Look?

The regular market reports will resume on Friday, but for today I just wanted to expound on the general market a little.

Things have really changed in the last few months.  Just 4 or 5 months ago, I was constantly looking for “follow through” on strong numbers for almost every market segment.  There would be a good month or two, but then there would be a lousy one to cast doubt into the recovery process.

There were programs designed to “bring back the housing segment”, and while some of them did manage to move the market for a short time, for the most part, they only seemed to steal from future sales.  Sales that would have happened regardless were moved up in order to qualify for government subsidies or more favorable tax treatment.  But over the long run, they didn’t create many sales that wouldn’t have happened over the follow couple of months.

After all of that worked through the system, and consumers were more certain that there wouldn’t be future inducements, sales started picking up again… but the real boost to the sales numbers has been inventory reductions.  And while there are still rumors of a “tidal wave of foreclosed properties”, those same rumors have been around for 3+ years, always with the tidal wave 4-6 months away.  There could indeed be a wave of foreclosed properties poised to hit the market, I wouldn’t bank on it.  And the market does seem ready to absorb some more inventory, especially on the entry level end of the spectrum.

The bottom line is that the real estate market is getting back to normal.  In fact, under $200k in most of Gwinnett, it is well into Seller’s Market territory.  From $200k-$400k, it is mixed.  Above that, it is still pretty much a Buyer’s Market, but not to the extent it has been for the last few years.

It will be interesting to see what happens with the market when the general economic recovery starts in earnest.  I am still of the opinion that the best stimulus for the housing market is a recovery in the jobs market.  While the unemployment rate has gotten better, the labor force participation percentage rate hasn’t budged much.  The unemployment rate discounts workers that give up or time out on unemployment, while the labor force participation rate includes everyone that could be in the labor force.

I’m firmly of the belief that many buyers are reluctant to make a 30 year plan (buy a house and get a mortgage) when they are worried about the security of their job over the next year.

Stay tuned to see how it all shakes out…

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Suwanee, GA, Market Report, May 2012

This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Suwanee, GA, May, 2012 indicate that there were 455 properties on the market (up from 426 last month).  Overall, there was about a 5.0 month supply of properties (down from 5.4 last month).  May had 99 sales.  Compared to May, 2011 (88), this year was pretty hot.  Inventory was down compared to 2011 (640).  There were 75 sales last month.  Gwinnett had a pretty good month, and it was evident here.

In the Under $200k arena, there were 118 listings in Suwanee, GA, with about a 3.2 month supply (184 and 6.5, respectively last year).  This May’s sales were WAY up, at 42 (29 last year, 28 last month).  This was definitely the strongest price segment in Suwanee.  And one of the strongest in the whole county.  The next level up is coming up fast.  There are a few other segments in the county getting close, though.

Between $200k and $400k, there were 220 listings for sale (310 last year, 200 last month), and 5.5 months of supply.  Sales in May, 2012 were 43 (35 in April), compared with 45 for the same period in 2011.  Sales have been bouncing between very strong and average for the last few months.  I’d like to see some consistency around 40-50 sales for the next couple of months.  This shouldn’t be a “peaky” market/price segment.  Unlike most of the county, this is the largest price segment in the area, and its direction plays a major part in how the area looks.

From $400k to $600k, there were 62 homes on the market.  The absorption rate was at 6.0 months (7.1 in April).  There were 11 sales in May (10 in April)… up from 10 last May.  Looking at the three month average, there were 31 sales this year and 18 for the same period last year.  This segment had gotten dramatically stronger in the last couple of months.

In the $600k to $800k arena, there are 27 listings, with about a 13.5 month supply.  Sales at this level are not consistent, but there were 3 this month (0 last month).  Looking at one month makes the numbers jump around. For the last three months, sales were 6… For the same time last year, the sales were 5.  With the huge decrease in listings over the last couple of months, I was looking for this to become one of the strongest $600k-$800k area in the county.  But until I see 3-5 sales a month on average, I can’t call this one strong.

The range from $800k to $1m, there are 8 homes listed and 24 months of inventory on the market.  There were only 4 sales at this price level last year (1 in April, 2 in July and 1 in August) .  This is a tough segment to try to sell in right now, but if inventory stays low, it won’t be quite as rough.  But there still needs to be some more sales activity.  There was 1 sale in March this year.

In Suwanee, GA, Above $1m, there are 20 properties listed.  The current absorption rate indicated about 15 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales (2 for March, 2 for April and 0 for May).  In this segment, we should be seeing reduced inventories…  There were 22 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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A Perfect Storm for “Move-Up Buyers”?

Interest rates are at historic lows… leading to incredible affordability.

Picture of the

Picture of the "Gingerbread House" in Essex, Connecticut, USA (Photo credit: Wikipedia)

Entry level inventories are at historic lows… leading to some price strength at base price levels.

Still some weakness at some “move-up” price levels… leading to great deals on homes at those price levels.

For a while now, many of us in the real estate world have been saying two things.  First, until jobs come back and people feel secure, real estate would struggle.  Second, the market wouldn’t come back until “move-up” buyers were in a position to make a move.

I don’t know that the majority of consumers are “comfortable” with their job situation, but when they are, the deals will start to dry up.  Those that get off the fence early will have the best choice of bargains… and inventories are actually dropping.

Move-up buyers had been somewhat locked into their homes with crappy resale values.  They couldn’t afford to move out and be in a position to put anything down on another house.  But now that there is a bit of stability in in the entry level, more of those buyers ARE able to sell and move up the market.

 

If you want to see if you are in a position to trade up, give me a call.  Lane Bailey 678-200-5895.

But the News Said…

English: Change of the Case-Shiller Home Price...

English: Change of the Case-Shiller Home Price Index relative to its peak values in 1989 and 2006. Series starting in 1989 is in blue. Series starting in 2006 is in red. (Photo credit: Wikipedia)

One of the comments I hear the most is “but the news said…”.  There are always stories on the news about the NAR (National Association of REALTORS®) market stats, Case-Shiller or others.  Most of the statistics are based on national numbers.  Case Shiller is a little more local, in that it is based on the local area… if you can call the Atlanta region “local”.

One thing I would note is that the Atlanta region DOES tend to track pretty close to national averages.  But being pretty close isn’t the same as being the same.  And even if it were, there is a huge difference between the Atlanta Metro area and Gwinnett County… much less Suwanee, or the Morningview subdivision.

And that is the problem…

We can’t listen to the news and have a clear picture of what it means for our house or our neighborhood.  It would be the same as looking at the Dow Jones Industrial Average (DJIA) and deciding whether a specific stock was going to go up or down.

But that is exactly what people do… They see a report on the network news and then decide that houses are over-priced, under-priced or whatever.  When the real fact is that some market segments are rocking bargains right now… there is too much inventory and not enough buyers.  Other segments have scarce inventory and homes are selling as fast as they are listed (if they are priced appropriately).  But the national news… or even the local news… can’t be that exact in their reporting.

Unlike a lot of real estate professionals, I don’t begrudge the news for reporting the “big picture” story on the real estate market.  We DO need to know what is happening on a national basis.  But we also need to remember that there are vast differences between neighborhoods, price ranges, ZIP codes, school areas, etc.

The best bet is to talk with a local agent… I have monthly market reports on 7 cities in Gwinnett County, GA.  If this is your area, you can get a much better idea of what is going on around you.  If you really want to know what is happening, let me know and we’ll talk about YOUR house.

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Suwanee, GA, Market Report, April 2012

This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Suwanee, GA, April, 2012 indicate that there were 426 properties on the market (up from 420 last month). Overall, there was about a 5.4 month supply of properties (down from 6.2 last month). April had 75 sales. Compared to April, 2011 (75), this year was flat. Inventory was down compared to 2011 (624). There were 100 sales last month.  Although sales were flat, the decreasing inventory has made this year look a lot better.

In the Under $200k arena, there were 117 listings in Suwanee, GA, with about a 3.5 month supply (178 and 6.9, respectively last year). This April’s sales were WAY down, at 28 (37 last year, 42 last month). This was definitely the strongest price segment in Suwanee. And one of the strongest in the whole county. The next level up is coming up fast.  There are a few other segments in the county getting close, though.

Between $200k and $400k, there were 200 listings for sale (295 last year, 195 last month), and 5.8 months of supply. Sales in April, 2012 were 35 (42 in March), compared with 28 for the same period in 2011. Sales have been bouncing between very strong and average for the last few months. I’d like to see some consistency around 40-50 sales for the next couple of months. This shouldn’t be a “peaky” market/price segment. Unlike most of the county, this is the largest price segment in the area, and its direction plays a major part in how the area looks.

From $400k to $600k, there were 57 homes on the market. The absorption rate was at 7.1 months (9.3 in March). There were 10 sales in April (10 in March)… up from 3 last April. Looking at the three month average, there were 24 sales this year and 12 for the same period last year. This segment had gotten dramatically stronger in the last couple of months, but stayed sort of weak this month.

In the $600k to $800k arena, there are 22 listings, with about a 11 month supply. Sales at this level are not consistent, but there were 0 this month (3 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 6… For the same time last year, the sales were 3. With the huge decrease in listings over the last couple of months, I was looking for this to become one of the strongest $600k-$800k area in the county. But until I see 3-5 sales a month on average, I can’t call this one strong.

The range from $800k to $1m, there are 4 homes listed and 12 months of inventory on the market. There were only 4 sales at this price level last year (1 in April, 2 in July and 1 in August) . This is a tough segment to try to sell in right now, but if inventory stays low, it won’t be quite as rough. But there still needs to be some more sales activity.

In Suwanee, GA, Above $1m, there are 26 properties listed. The current absorption rate indicated about 19.5 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales (2 for March and 2 for April). In this segment, we should be seeing reduced inventories… There were 22 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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