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Category Archives: news

Wayback Wednesday… The Lilburn CID

Wednesday, 16 March 2011 08:56
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Last year I wrote about Lilburn’s newest Community Improvement District.  The Lilburn CID runs along US29 from Jimmy Carter Boulevard to the Ronald Reagan Parkway.  The purpose is to improve business along the corridor by making a more attractive environment, better traffic flow and working to create more of a commercial destination.

Now, a year later, the changes are evident.  Incomplete… but evident.  There are several portions of the route along US29 that are very much under construction.  Medians are being added, rights of way are being widened and traffic flow… even with the construction underway… is improving.

We saw many of the same types of changes in the Evermore CID… on the other side of Lilburn, GA, running along US78 from just past Stone Mountain Park to almost Snellville.  Those changes also improved traffic flow, got rid of the contentious reversible lanes and beautified several key areas along the route.

It is exciting to see the changes happening.  Lilburn is growing and maturing… and coming into its own.  It is home to Parkview and Brookwood High Schools, two of the best performing schools in Gwinnett County (which is one of the best performing district in the state).  Combined with new improvements like the expanded Walking Trail network based at Lilburn City Park, this is becoming even a better place to live and work.

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Buford, GA, Market Report, January 2011

Tuesday, 15 March 2011 08:41
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Market stats for Buford, GA, January, 2011 indicate that there were 601 properties on the market. Overall, there was about an 13.8 month supply of properties.  December was slightly above last year (62 v 52 for 2009).  But it was also a pretty substantial bump from November (44 sales).  January was down slightly from a year earlier (25 v 28 sales).  There were 83 sales in June and an Absorption Rate under 8.5 months.

In the sub-$200k arena, there were 346 listings, with a 11.8 month supply.  Again, this is the largest price segment in this area, so weakness here equals weakness across the market area.  Sales were down substantially from last month (18 v 41), but pretty flat compared to last year (19 sales in Jan. 2010).  Let’s see what February does.

Between $200k and $400k, there were 202 listings for sale, and about  17.3 months of supply.  As with many other segments, January was well below December.  With just 6 sales this year, it was below December’s 16 as well as last January’s 9.  Inventory dropped for February, let’s see if sales can get better.

From $400k to $600k, there were 29 homes on the market. The absorption rate is almost 17.4 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.

In the $600k to $800k arena, there were 6 listings.  Absorption Rate is 18 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 7 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 4 homes listed. And with only 1 sale in the last year (Feb 10) until last month (2 more), obviously  trends are hardly definable.  At least listings are down by more than 50% compared to a few months ago (9 listings in June).

Above $1m, there were 14 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.Related article

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Sugar Hill, GA, Market Report, January 2011

Thursday, 10 March 2011 08:25
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Market stats for Sugar Hill, GA , December, 2010 indicate that there are 232 properties on the market. Overall, there is about an 12.7 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.

for Sugar Hill homes priced under $200k, there are 169 listings, with under 10.8 months supply.  There were 12 sales this January, versus 11 last year for the same time.  And December had a nice bump in sales, at 25 homes.  That really cranks the 3 month numbers to look better than they really may be.

Sugar Hill Listings between $200k and $400k, there are 53 listings for sale, and about 14.5 months of supply.  As recently as May, there was only a 6.75 month supply.  This segment really took a beating.  It had a slight bump in November, but drove off a cliff in December.  There were only 3 sales v 11 last year.  January pulled out 3 more sales, which isn’t terrible compared to 5 last year, but the decrease in listings is why this segment looks stronger.

For listings in the $400k to $600k range, there are 6 homes on the market. The absorption rate is around 36 months, but with 1 sale in the last 6 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 3 sales in this segment last year.  In 2009, there were almost twice as many sales in this price range.

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 4 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, January 2011

Tuesday, 08 March 2011 08:09
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This map shows the incorporated and unincorpor...

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Market stats for Suwanee, GA, December, 2010 indicate that there are 582 properties on the market. Overall, there is about an 13.5 month supply of properties.  There was less that 8 months of inventory as recently as June.  Even though inventories are down since then, sales are also down.  January was a big move in the wrong direction for the overall Suwanee Market area.

In the Under $200k arena, there are 171 listings in Suwanee, GA, with about a 11.9 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed…  Since this is usually the main sales driver, its slowing is reflected in the overall sales numbers slowing.  Hopefully, February shows a turn.  There were 15 sales, compared to only 10 a year earlier.

Between $200k and $400k, there are 271 listings for sale, and 12 months of supply.  Sales for January 2011 were 16, compared with 24 for the same period in 2010.  Still weak, but with the decrease in listings, leading to an improvement in the Absorption Rate.  Listings are up slightly for February… we’ll have to see how sales shake out.

From $400k to $600k, there are 78 homes on the market. The absorption rate is at 23.4 months.  There were 2 sales this year… down from 4 last year.  Even looking at the three month average, there were 10 sales this year and 21 for the same period last year.

In the $600k to $800k arena, there are 25 listings, with about a 15 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 5…  For the sale time last year, the sales were 7.  The segments strengthened, but we can’t call a trend yet.

The range from $800k to $1m, there are 13 homes listed and 3+ years of inventory on the market.  There have 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 24 properties listed. The current absorption rate indicated about 36 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 (2 sales in Nov-Jan this year and 2 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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Gwinnett County Public Schools Making Changes…

Monday, 07 March 2011 08:30
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I ran across a story in the Gwinnett Daily Post mentioning that Gwinnett County Public Schools (GCPS) is getting ready to make a few changes for the 2011-2012 school year.  Basically, they need to balance out the Peachtree Ridge and Duluth clusters, open the new Moore Middle School in the Central Gwinnett cluster and shift a couple of Elementary Schools in the Shiloh cluster.

Peachtree Ridge High School and Hull Middle School are both over capacity.  The schools that will likely be affected are Peachtree Ridge High, Duluth High, Hull Middle, Duluth Middle, Mason Elementary, Chesney Elementary and BB Harris Elementary.  And while GCPS is still working on the boundaries, they expect that less than 1,000 studtents will be affected.  Maps should be available later today with  the new boundaries.

In 2009, GCPS announced the new Moore Middle School in the Central Gwinnett High School cluster.  This adds a second middle school for the cluster.  Lawrenceville and Winn Holt elementary schools will feed into the new Moore Middle School, while Cedar Hill, Jenkins, and Simonton elementary schools will continue to feed into Richards Middle.  Moore will feed to Central Gwinnett, as will Richards.

There will be a shifting of elementary attendance zones in the Shiloh Cluster as sections of Spain Road, Waterfront Place, Hadley Place and Forest Bend Road will move to Partee ES from Annistown ES. This change also was part of the approved redistricting in December 2009.

 

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