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Category Archives: sellers

Buford, GA, Market Report, September 2010

Tuesday, 09 November 2010 08:34
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This map shows the incorporated and unincorpor...
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Market stats for Buford, GA, September, 2010 indicate that there were 612 properties on the market. Overall, there was about an 14.3 month supply of properties.  Sales were down radically in July (19 v 71 for 2009), but August was back in the realm (57 v 61 for 2009).  September was slightly below last year (52 v 60 for 2009).  But the magic has been a little underwhelming since June.

In the sub-$200k arena, there were 316 listings, with a 11.9 month supply.  Sales for July were down by 70%.  There was actually one extra sale for August, but two less in September.  May was the best absorption rate of the year, and it has been going downhill ever since.

Between $200k and $400k, there were 233 listings for sale, and about  17.1 months of supply.  Again, July was the dog, with sales down by 75%.  August and September were also slightly down.  This is one of the weakest segments in the county (excluding the very high end of the market…).

From $400k to $600k, there were 39 homes on the market. The absorption rate is around 19.5 months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There have been 6 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 8 listings.  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 to11 homes have made things look less slow… but there have been 2 sales in this segment since November… but one was in September.

The range from $800k to $1m, there were 3 homes listed. And with only 2 sales in the last year (Nov. 09 and Feb 10), obviously  trends are hardly definable.  At least listings are down by 50% compared to last month.

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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Flashback Friday… Staging with Storage…

Friday, 05 November 2010 08:17
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Old garage.
Image by Elsie esq. via Flickr

This is tough this time of year.  There are usually a LOT of things going on, and the decorations are almost ready to come out of hiding.  But, if your home is on the market, you have to keep it looking “Presentation Ready” all of the time.

In this episode from last year, Tara Jones (my wonderful friend at Reel Productions) talks about Staging with Storage.

If is a fantastic way to de-clutter, but at the same time, make the house more livable.  And it isn’t just the kids’ bedrooms or the playroom that can benefit.  Think of how cool it would be to have everything packed up neatly and orderly in the garage… still accessible to work, but out of the way of prying eyes… buyers… teenagers looking for a tool…

So, here is a link to the original post.  Enjoy.

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Sugar Hill, GA, Market Report, September 2010

Thursday, 04 November 2010 08:25
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Market stats for Sugar Hill, GA , September, 2010 indicate that there are 226 properties on the market. Overall, there is about an 10.4 month supply of properties, with sales dropping precipitously since June (31 in June, 15 in August and 17 in September).  Meanwhile, inventories are up.

In the sub-$200k arena, there are 151 listings, with under 13.7 months supply.  Sales are also about ¾ of the level last year over the last three months.  Sales appear to be decelerating.

Between $200k and $400k, there are 65 listings for sale, and about 11.5 months of supply.  As recently as May, there was only a 6.75 month supply.  September was better than August, but still pretty weak overall.

From $400k to $600k, there are 6 homes on the market. The absorption rate is around 18 months, but with 1 sale in the last 4 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 this year.

Above $600k, 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 17 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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Wayback Wednesday… Median Price Comparison… Ouch!

Wednesday, 03 November 2010 08:12
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Midtown and Downtown Atlanta as seen from Vini...
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A couple of years ago I was looking at median house prices in the Atlanta area, via a map that the NAR (National Association of REALTORS®).  My friend Jay Thompson unearthed it… I think before the NAR was quite ready to release it.

The map is a fun little interactive tool, but the information is the real story here.  A couple of years ago, I noted that the Median Home Price in the Atlanta area was $158,300 for the 2nd Quarter of 2008, down 9.8% from the 1st Quarter of that year.

For the 2nd Quarter of 2010, we are sitting at $122,700… up 1.1% from last year.

If you were wondering how values have fared over the last couple of years, this was a pretty telling indicator… and it wasn’t good.  I honestly didn’t expect that the Atlanta market would go down by this much.  I expected a 10-15% decrease in values, but not something closer to 20% as we have seen.

Here is the link back to the original post… with the map.

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Suwanee, GA, Market Report, September 2010

Tuesday, 02 November 2010 08:29
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Market stats for Suwanee, GA, August, 2010 indicate that there are 598 properties on the market. Overall, there is about an 10 month supply of properties.  There was less that 8 months of inventory as recently as June, but sales are slowing even faster than inventory is shrinking.

In the sub-$200k arena, there are 144 listings, with about a 8.3 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… although sales for July and August (19 and 15) were exactly the same last year and at 18, there was only one less sale in September v last year.

Between $200k and $400k, there are 311 listings for sale, and 10.7 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.

From $400k to $600k, there are 79 homes on the market. The absorption rate is at 9.1 months.  While 5 sales this year don’t compare favorably with the 9 sales last year, the three month average is almost exactly the same (26 v 27).  There are fewer listings, though.

In the $600k to $800k arena, there are 26 listings, with about a 7.8 month supply.  We can look directly to a reduction in inventory for the drop in absorption rate from 45 months in February… sales are still slower than last year, and seem to be decelerating (1 this year v 4 last September).

The range from $800k to $1m, there are 13 homes listed and approximately 39 months of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 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.  But, in this segment, we should be seeing reduced inventories…

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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