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Tag Archives: buford

Buford, GA, Market Report, May 2011

This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Buford, GA, May, 2011 indicate that there were 584 properties on the market. Overall, there was about an 8.3 month supply of properties.  There were 75 sales for April, up slightly from 73 last month and 73 from last May (2010).  It is an impressive comeback from March’s poor showing.

In the sub-$200k arena, there were 313 listings, with a 6.1 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 (54 v 51), but strong compared to last year (47 sales in May 2010).  Framed in the results for the whole market area, the segment is quite strong.

Between $200k and $400k, there were 213 listings for sale, and about  12.1 months of supply.  The 17 sales recorded were significantly below the 22 from last month., as well as down from the 23 sales last year for May.  It is among the weaker price/area segments in Gwinnett County, GA.  Of course, if there were a big bump next month…

From $400k to $600k, there were 36 homes on the market. The absorption rate is almost 54 Months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There has been 2 sale in the last 3 months (both in May).  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 has been weakening.

In the $600k to $800k arena, there were 4 listings.  Absorption Rate is 6 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 4 homes has made things look less slow… but there have been 5 sales in this segment in the last year… the last was this month.

The range from $800k to $1m, there were 7 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 11 properties listed.  The last sale in the segment was in April… of 2009…and then there was May… FINALLY, a new sale.

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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Photo Friday… Garage Sale Time…

Garage sale

Image via Wikipedia

We all do it from time to time…  We get rid of stuff.  Some of it we might donate to a shelter or some worthy cause, other stuff might just find its way to the trash.  And then there is that stuff which finds its way into a garage sale (I like to call the “Neighborhood Junk Re-Allocation Events).

For us, it seems like it is about once every other year that we have a sale and then donate the remnants, alnog with a few choice things that we would rather donate than sell.

We did one just before we moved (about two months ago)… and after moving, and diving into boxes we had just plain forgotten about, we are doing it again.

Part of the reason is the large amount of stuff my mom asked me to get rid of… Coca-Cola collectibles as well as some sports memorabilia and some other odds and ends.

We’ll be having our sale on Friday and Saturday, July 1st and 2nd, 2011, at a friend’s house.  If you are in the Suwanee/Sugar Hill/Buford area, look for our signs near Buford Highway and Old Suwanee Rd.  We’ll be running the sale from around 8am until 2pm each day… or so.

[BTW, the picture is NOT our garage sale…)

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The Gwinnett County Market is a Little Weird Right Now…

DSCN0561
Image by lane.bailey via Flickr

I have been pulling Gwinnett County Real Estate Market Data, and I’m not done with it yet.  But, I have been seeing a few things.

  • Listings are down markedly from where they would normally be.  This can be either a positive or negative, depending on your outlook.
    • On the Plus Side, fewer listings means that Absorption Rates are better.  There is less inventory to get sold… it tilts the table back toward sellers.  It has been largely tilted toward buyers for quite a while.
    • On the Minus Side, it shows that there is pessimism in the market on the side of sellers.  They aren’t confident about the market.  That lack of confidence has carried over to buyers… sales are also slowing.
  • Sales are down… like I just mentioned.  Even though Absorption Rates make the market look better… the sales just aren’t there.
  • Results are mixed.  There are a few cities that are doing well… and there are a few price segments that are doing quite well.  Others are VERY weak.
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Buford, GA, Market Report, April 2011

DSCN0561

Image by lane.bailey via Flickr

Market stats for Buford, GA, April, 2011 indicate that there were 605 properties on the market. Overall, there was about an 9.3 month supply of properties.  There were 73 sales for April, up from 63 last month and 65 from last April.  It is an impressive comeback from last month’s poor showing.

In the sub-$200k arena, there were 334 listings, with a 7.2 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 (51 v 48), but strong compared to last year (38 sales in Apr. 2010).  Framed in the results for the whole market area, the segment is quite strong.

Between $200k and $400k, there were 209 listings for sale, and about  11.6 months of supply.  The 22 sales recorded were well above the 14 from last month.  But, it was well down from the 28 sales last year for April.  It is among the weaker price/area segments in Gwinnett County, GA.  Of course, if there were a big bump next month…

From $400k to $600k, there were 39 homes on the market. The absorption rate is almost 117 Months (ouch).  This shouldn’t be acting like a high-end luxury segment, but it is.  There has been 1 sale 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 has been weakening for December.

In the $600k to $800k arena, there were 3 listings.  Absorption Rate is 9 months (averaging a sale every three 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 3 homes has made things look less slow… but there have been 4 sales in this segment in the last year… the last was March.

The range from $800k to $1m, there were 7 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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Wayback Wednesday… Still Bickering…

Gwinnett County Historic Courthouse, Lawrencev...

Image via Wikipedia

Last year I wrote about how Gwinnett County and 15 cities in the county were involved in a lawsuit.  At that time, they only had days to get things straightened out before there were serious issues with the “Qualified Status” of the local governments.

A year later and they are still bickering over it.

There are a few changes…  Some police departments were de-certified to use radar.  The Gwinnett County Sheriff’s Department stepped in and ran radar.  The lawsuits are continuing.  The County could go bankrupt if the cities win.  Residents in the cities could continue to face double charges for services provided by the cities.

This would be more fun if we could just break out the popcorn and watch without financial implications or worry about city and county service delivery.

For more…

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