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Category Archives: market report

Norcross, GA, Market Report, March 2011

Thursday, 05 May 2011 08:35
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Market stats for Norcross GA, March, 2011 indicate that there were 399 properties on the market. Overall, there is about a 8.4 month supply of properties. January was a powerhouse…  February continued the trend, although not quite as powerful.  March was a breakout month (59 v 44 last year).  This is one of the few market areas in Gwinnett to post three strong months in a row.

In the sub-$200k arena, there were 235 listings, with about 6.6 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (43 v 31).  November and December were weak, but January, February and March have shown a powerful reversal in that trend.  And with an Absorption Rate in the mid-6 month range, this price/location segment is bordering on balanced.  It has been quite a while since I have been able to say that…

Between $200k and $400k, there were 118 listings for sale, and about 16.1 months of supply.  Sales had been down and slowing for the last few months, but lower inventory levels made things look better.  Sales bumped up well above last month… and almost to last year’s level, so despite the increase in listings, the Absorption Rate dropped.

From $400k to $600k, there were 41 homes on the market. The absorption rate is around 10.3 months.  Inventory has been rising for the last three months, as have sales (4 months for sales, actually).  And the Absorption Rate has been dropping for 4 months.  Still has a little way to go, but I love that it is getting stronger every month.

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 is at 6 months of inventory… but with only 4 sales last year and then the sale in March, 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.  Only.

The range from $800k to $1m, there were no homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 properties listed.  But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales.  The single sale in January (first since October) has pushed the Absorption Rate down to just 9 months of inventory.

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, March 2011

Tuesday, 03 May 2011 08:19
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Market stats for Buford, GA, March, 2011 indicate that there were 610 properties on the market. Overall, there was about an 12.2 month supply of properties.  March was down substantially, 63 v 84 sales in 2009.  February was exactly the opposite, 60 v 38 sales in 2009.  January was slightly below last year (25 v 28 for 2009).

In the sub-$200k arena, there were 354 listings, with a 9.9 month supply.  This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area.  Sales were up slightly from last month (48 v 41), but pretty flat compared to last year (50 sales in Mar. 2010).

Between $200k and $400k, there were 194 listings for sale, and about  15.3 months of supply.  Last year, March took off compared to February (19 then 32 sales), but this year it was slightly down (18 then 14 sales).  Obviously, March sales were WAY down compared to last year.

From $400k to $600k, there were 31 homes on the market. The absorption rate is almost 18.6 Months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There have been 5 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.  And despite the lower market segments getting better, this one weakened for February.

In the $600k to $800k arena, there were 2 listings.  Absorption Rate is 6 months (averaging a sale every few months)… but it jumps around a lot.  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 2 homes has made things look less slow… but there have been 3 sales in this segment last year… the last was this past November.

The range from $800k to $1m, there were 6 homes listed. And with only 1 sale in the last year (Feb 10) until last December (2 more), obviously  trends are hardly definable.  At least listings are down by more than compared to a few months ago (9 listings in June).

Above $1m, there were 13 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, March 2011

Thursday, 28 April 2011 08:45
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Market stats for Sugar Hill, GA , March, 2011 indicate that there are 250 properties on the market. Overall, there is about an 12.9 month supply of properties.  Sales have been fairly steady since July (aside from a bump in December), but inventories were rising, and along with it, the number of months of inventory (that is the wrong way…).  January had an odd drop in inventory this year.  Even more odd is a slight drop for February.  March started moving back up again… and I was really looking forward to a better Absorption Rate.

For Sugar Hill homes priced under $200k, there are 182 listings, with under 13.3 months supply.  There were 15 sales this March and 16 last year for the same time.  Inventories have been rising steadily.  Sales have been flat or slightly down.  We really need to see a bump next month… at least we hope to see the bump.

Sugar Hill Listings between $200k and $400k, there are 59 listings for sale, and about 14.8 months of supply.  Last May there was only a 6.75 month supply.  This segment really took a beating.  Sales have been up and down over the last few months, but February was bad… 1 sale.  This March, there were 8 sales, v 11 last year.

For listings in the $400k to $600k range, there are 6 homes on the market. The absorption rate is around 30 months, but with 1 sale 7 months ago, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There were only 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.  I hope to see some activity in this segment in April and May.

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, March 2011

Tuesday, 26 April 2011 08:00
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Market stats for Suwanee, GA, March, 2011 indicate that there are 621 properties on the market. Overall, there is about an 13.2 month supply of properties.  There was less that 8 months of inventory as recently as June.  While February sales were up dramatically from last year, March sales were down.  inventory was flat compared to 2010.  The strong February sales are the main reason that the Absorption Rate is down.

In the Under $200k arena, there are 164 listings in Suwanee, GA, with about a 8.9 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed…   For March, there were 19 sales, compared to 20 a year earlier.  February looked better than January, but March wasn’t so hot.

Between $200k and $400k, there are 299 listings for sale, and 12.8 months of supply.  Sales in March 2011 were 28, compared with 34 for the same period in 2010.  Weak, and even with the decrease in listings, the Absorption Rate got a bit worse.  Listings were down for March from 311 last year.

From $400k to $600k, there are 94 homes on the market. The absorption rate is at 25.6 months.  There were 5 sales this year (Feb)… down from 10 last year.  Even looking at the three month average, there were 11 sales this year and 20 for the same period last year.  The only good part is that listings are down slightly.

In the $600k to $800k arena, there are 26 listings, with about a 26 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 3…  For the sale time last year, the sales were 6.  The segment weakened , but we can’t call a trend yet… last month it was looking stronger.

The range from $800k to $1m, there are 12 homes listed and 3+ years of inventory on the market.  There were only been 4 sales at this price level last year (1 each in January, April, May and December).  This is a tough segment to try to sell in right now.

In Suwanee, GA, Above $1m, there are 26 properties listed. The current absorption rate indicated about 78 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 (1 sales in Jan-Mar this year and 4 last year).  But, in this segment, we should be seeing reduced inventories…  There were 40 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, March 2011

Thursday, 21 April 2011 08:13
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Preliminary stats for Duluth, March, 2011 indicated that there were 607 properties on the market. Overall, there is about an 11.7 month supply of properties.  Sales in March were 65, compared to 59 a year earlier.  Usually in February we see an uptick in inventory, which continues through the spring.  Inventory actually dropped this time, but started picking up for March.

In the Under $200k arena, there were 255 listings in Duluth, GA, with about a 9.6 month supply.  The Absorption Rate as recent as December, 2009, was in the low 5s.  Sales for March were up this year v last year (30 v 28), and up from February (27).  If the sales can start picking up faster than the inventory (and sales ARE picking up), this segment could do really well.

Between $200k and $400k, there are 155 listings for sale, and about 11.9 months of supply.  Absorption rates have similarly risen, dropped and then risen again.  Sales were up dramatically compared to March, 2010 (21 v 11).  Again, if sales can keep the trend, things will look pretty good.  Inventory is moving around a lot.

From $400k to $600k, there were 58 homes on the market. The absorption rate was around 11.6 months.  Sales might not seem that strong, with only 5 units, especially compared to 8 last year, but I think the problem is with the inventory.  I’ll keep looking for an increase in sales.  Maybe April will show it.

In the $600k to $800k arena, there were 54 listings, with about 14.7 months of supply.  Sales were 4 for March… 9 for March last year.  Month to month sales were up slightly (4 v 3).  If listings stay relatively low, this segment could show a great improvement, but they are creeping up.

In Duluth, GA, from $800k to $1m, there were 29 homes listed and approximately 10.9 months of inventory on the market.  Falling inventories AND increased sales are fueling the increasingly favorable Absorption Rate (it was 67.5 months in February).  Last March there were 44 homes on the market and only 2 sales compared to the 29 homes and 3 sales this year.  The Absorption Rate actually looks better than it has in the last 18 months.

Above $1m, there were 56 properties listed. The current absorption rate indicated about 56 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  There were 3 sales in the Jan – Mar period this year, and 4 sales for the same time last year… but inventories are lower.

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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