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Category Archives: news

Sugar Hill, GA, Market Report, April 2011

Tuesday, 31 May 2011 08:11
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DSCN0570

Image by lane.bailey via Flickr

Market stats for Sugar Hill, GA , April, 2011 indicate that there are 236 properties on the market. Overall, there is about an 12.2 month supply of properties.  There were 20 sales, compared to 23 last month and 24 last April.  The Absorption Rate (AR) dropped, but that is largely due to the reduction in active listings and the fact that a month with 15 sales dropped off.

For Sugar Hill homes priced under $200k, there are 164 listings, with under 10.7 months supply.  There were 17 sales this April the same number last year for the same time.  Last month there were 15 sales.  Inventories have been rising steadily, until dropping this month.  Normally, this time of year we see inventories ramping up.  Sales have been flat or slightly down.

Sugar Hill Listings between $200k and $400k, there are 62 listings for sale, and about 15.5 months of supply.  Last May there was only a 6.75 month supply.  This segment really took a beating.  It is also one of the few price/area segments that had an increase in listings and an increase in the Absorption Rate (AR).  Last April there were 7 sales, this year there were 3.  Last month had 8.

For listings in the $400k to $600k range, there are 7 homes on the market. The absorption rate is around 28 months, but with 1 sale 8 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 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 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.

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Photo Friday… If it Bleeds, It Leads…

Friday, 27 May 2011 08:58
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Mud4Blood

Mud4Blood time!

It’s that time of year again… Mud4Blood time.

Each year, for the last 8 years, the GBR4WD Club has hosted one of the biggest one day blood drives in the region for LifeSouth.  The goal this year is to break 200 pints of blood collected at the event.

If you are a local car nut with a cool ride… whether it is a high-riding 4×4, low-riding mini-truck, rat rod, resto-mod or rad bike, or even something completely different… we have a cool show for you.

It doesn’t cost a dime to enter, aside from your gas to drive to Hooters in Kennesaw.  We don’t want your money… we want your blood.

If you like to see the coolest cars and the coolest people in the Atlanta Metro area car scene, it doesn’t cost a dime to show up… aside from your gas.  We want you blood.

If you want to have a shot at the HUGE raffle, it doesn’t cost a dime to get a ticket.  We want your blood.

Do you sense a theme here?

It’s all about the blood drive, but the blood drive isn’t the whole thing…  There are cool vendors offering excellent deals, too.  And if you get hungry, it IS at Hooters… right by Cowboys. 

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Suwanee, GA, Market Report, April 2011

Thursday, 26 May 2011 08:16
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DSCN0560

Image by lane.bailey via Flickr

Market stats for Suwanee, GA, April, 2011 indicate that there are 624 properties on the market. Overall, there is about an 10.3 month supply of properties.  March sales were down (53), but April reversed the trend, although with 75 sales, it was close to flat compared to 2010 (74).  inventory was flat compared to 2010.  This is one of the few markets where the inventory increased.

In the Under $200k arena, there are 178 listings in Suwanee, GA, with about a 6.9 month supply.  In June, there was a 4.8 month supply.  April sales were quite strong, at 37.  Last month there were barely half (19) as many sales and last April there were 24.  This might be the strongest current segment in Gwinnett County.

Between $200k and $400k, there are 295 listings for sale, and 10.5 months of supply.  Sales in April 2011 were 30, compared with 37 for the same period in 2010.  Weak, but with the decrease in listings, the Absorption Rate AR)got a bit better.  So far this year, only February has posted better sales that 2010, and that was just barely.

From $400k to $600k, there are 90 homes on the market. The absorption rate is at 22.5 months.  There were 3 sales this year (April)… down from 6 last year.  Even looking at the three month average, there were 12 sales this year and 22 for the same period last year.  The only good part is that listings are down slightly, and would normally be rising at this time of the year.

In the $600k to $800k arena, there are 29 listings, with about a 29 month supply.  Sales at this level are not consistent, but there were 2 this month.  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 10.  The segment weakened , but we can’t call a trend yet… two months ago it was looking stronger.

The range from $800k to $1m, there are 10 homes listed and 2½ 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) and one for April this year.  This is a tough segment to try to sell in right now.

In Suwanee, GA, Above $1m, there are 22 properties listed. The current absorption rate indicated about 22 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 (3 sales in Feb-Apr this year and 5 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. There were 2 sales for April.

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, April 2011

Tuesday, 24 May 2011 08:12
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DSCN0571

Image by lane.bailey via Flickr

Preliminary stats for Duluth, April, 2011 indicated that there were 583 properties on the market. Overall, there is about an 9.4 month supply of properties.  Sales in April were 70, compared to 65 a year earlier.  Oddly, this is one of the few markets to report a momth to month sales increase for April.  Coupled with the decrease in inventory, that gives Duluth a strong showing for the Absorption Rate (AR).

In the Under $200k arena, there were 234 listings in Duluth, GA, with about a 7.5 month supply.  The Absorption Rate as recent as December, 2009, was in the low 5s.  Sales for April were up sharply this year v last year (37 v 27), and up from March (30).  This segment could do really well if the current trends hold… and we have seen them holding for a couple of months (although March was the weakest since Nov, 2010).

Between $200k and $400k, there are 163 listings for sale, and about 10 months of supply.  Absorption rates have similarly risen, dropped and then risen again.  Sales were flat compared to April, 2010 (17).  This was one of the very few segments to have inventory rise from March.

From $400k to $600k, there were 54 homes on the market. The absorption rate was around 16.2 months.  Last month I wrote “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.”  April did NOT show it.  Sales DIVED to just 1 unit.  There were 7 last year.

In the $600k to $800k arena, there were 52 listings, with about 10.4 months of supply.  Sales were 8 for April… 6 for April last year.  Month to month sales doubled (8 v 4).  If listings stay relatively low, this segment could continue to improve.  I am looking for somewhere around 10-12 sales for May to show me this segment is coming back.

In Duluth, GA, from $800k to $1m, there were 31 homes listed and approximately 8.5 months of inventory on the market.  The 3 sales recorded for April tied last year and last month.  The AR actually looks better than it has in the last 18 months.  I would really like to see sales increase, though.  Inventory will likely go up soon.

Above $1m, there were 49 properties listed. The current absorption rate indicated about 21 months of inventory.  A couple of sales at this level could have a large impact on the Absorption Rates…  There were 7 sales in the Feb-Apr period this year, and 9 sales for the same time last year… but inventories are much lower, leading to a better looking AR.

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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Lawrenceville, GA Market Report, April 2011

Thursday, 19 May 2011 08:32
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Downtown Lawrenceville (as of June 2006)

Image via Wikipedia

Market stats for Lawrenceville, April, 2011, indicate that there are 1576 properties on the market. Overall, there is about a 7.6 month supply of properties. In 2010, sales for April were at 216, so 229 sales isn’t much of an increase, year over year.  But, coupled with the recent decrease in inventory, things are looking up.  However, there were 239 sales in March, 2011, so that makes the 229 seem like a giant step backwards.  Normally at this time of year, we are seeing healthy increases in month to month sales.

For Lawrenceville, GA, Homes Under $200k, there are 1343 listings, with about an 7.1 month supply of homes.  Sales were way up from April 2010 (209 v 186).  This segment is easily the lion’s share of sales for the area.  Last month this was one of the strongest price/area segments in Gwinnett County, but this month it is just mid-pack.  The big drop in Absorption Rate (AR) is more due to lower inventory than strong sales.

Between $200k and $400k, there are 204 listings for sale, and about 13.3 months of supply.  Oddly, this was one of the weakest segments in the county.  The 20 sales for April, 2011 were WAY down from the 29 from March last year.  Ditto for February and March… so April is the second weak month in a row here.

From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months.  However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact.  Case in point is that we went from a 12 month AR to a 22 month AR because of a lack of sales for last month.  Just 4 months ago there was 87 months of inventory, though…

In the $600k to $800k arena, there are 4 listings, with about 12 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there was only 1 sale in the last three months.  I was looking for 2 sales in April… and there were none.  Even with the inventory drop from 6 to 4 listings, the AR doubled.

Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. There has only been one sale in this range in the last 2 years (Aug, 2010), according to FMLS.

Lawrenceville is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 22,937 people in Lawrenceville, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County (2008 estimates from the Census Bureau peg population around 29,000). It was incorporated in 1821. Lawrenceville is home to Central Gwinnett High School, and also has students that the Mountain View and Archer clusters. It is also home to Gwinnett Technical College and Georgia Gwinnett College. Another recent addition to Lawrenceville is that it is home to the Gwinnett Braves, playing at the Gwinnett Stadium on GA20 between I-85 and GA316. Possibly the most famous resident of Lawrenceville was Oliver Hardy. As a small boy he lived in Lawrenceville with his parents for a short time. Lawrenceville was also home to Junior Samples. Some of its other residents included Jeff Francouer, Brian McCann and Jennifer Ferrin.

I have a page dedicated to Lawrenceville Market Data.

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