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Tag Archives: buyers

Buford, GA, Market Report, August 2013

Market stats for Buford, GA, August, 2013 indicate that there were 340 properties on the market, an increase of 8 from last month. Overall, there was about an 4.2 month supply of properties (Absorption Rate or A/R). There were 86 sales for August, up from 80 last month and from the 80 sales last Aug12. It isn’t the strongest market in Gwinnett, but the A/R is nothing to sneeze at. It is still in Seller’s Market territory.

DSCN0574

DSCN0574 (Photo credit: lane.bailey)

In the sub-$200k arena, there were 108 listings, with a 2.4 month supply. This was the largest price segment in this market area, so strength here usually equaled strength across the whole local market area. Sales were up from last month 49 (v 42 last month), and flat compared to last year (49 sales in Aug12). But, the A/R is well under the 6 months that would be considered fairly balanced… pointing towards a solid seller’s market. This time of year we are usually seeing an increase is sales… and listings.

Between $200k and $400k, there were 160 listings for sale, and about 5.2 months of supply. The 29 sales recorded were down from the 31 last month and down from the 31 sales last year for August. This had been one of the weaker segments in the county, but had improved dramatically until a few months ago it was fairly balanced, though tilted towards buyers… now it is a little less into Seller’s Market territory.

From $400k to $600k, there were 46 homes on the market. The absorption rate is 9.2 Months. There have been 15 sales in the last 3 months (2 for June, 6 for July and 7 in August). When the market is rolling, there should be 5-7 sales a month during this part of the year. Just for comparison, there were 6 sales in the Jun-Aug period in 2012. This segment has been bouncing all over the place, though… (as a note, the A/R was 17.25 last month).

In the $600k to $800k arena, there were 10 listings. Absorption Rate is 30 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 9 had made things look less slow… but they are back on the rise. There was 0 sales in August last year and 0 in July this year. There were 0 sales in August this year.

The range from $800k to $1m, there were 4 homes listed. Trends are hardly definable. Listings are down. February was the last recorded sale. There was 0 sales in August. So it now has a 24.0 month Absorption Rate. (the decrease in listings is what dropped the A/R)

Above $1m, there were 12 properties listed. There was sale in the segment in April… of 2009…and then May, 2011… and 2 sales in June, 2011… also 1 in July and September, 2012. There was 1 sale in August. So, we have 18 months of inventory. I hope, but am not expecting, sales to be more consistent.

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 opened for the 2010-11 school year).

I have a page dedicated to Buford Market Data.

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Sugar Hill, GA, Market Report, August 2013

Market stats for Sugar Hill, GA , August, 2013 indicates that there were 110 homes on the market, up 8 from last month. Overall, there is about an 3.0 month supply (2.7 last month). There were 36 sales, compared to 38 last month and 22 last August. Of course, then there were 139 listings on the market.

English: An ornamental iron fence built for th...

English: An ornamental iron fence built for the City of Sugar Hill, GA. (Photo credit: Wikipedia)

For Sugar Hill homes priced under $200k, there were 52 listings, with about 2.5 months supply. There were 26 sales this August, below last year for the same time (16). There were 19 sales last month. Inventories have been fluid, rising and falling. This time of year we often see a slight increase in listings… but we are still very low. In fact, sales may be stifled by lack of inventory. Things have been a little choppy, though… up one month, down the next, then back up.

Sugar Hill Listings between $200k and $400k, there are 50 listings for sale, and about 3.3 months of supply. Last August there was a 2.7 month supply. There were 5 sales then, this year there were 9. Last month had 18 sales. We are still in Seller’s Market territory though. Of note, from May, 2012, to June, 2012, the Absorption Rate dropped from 10.5 months of inventory to 5.4. It had spent almost a year above 10… and now has spent over a year below 10.

For listings in the $400k to $600k range, there were 5 homes on the market. The absorption rate was around 5 months, but with 1 sale this month, it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. I’ve finally started to see some consistency here. Hopefully we’ll have a little more action during the rest of the active selling season.

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 were 3 homes listed for sale in these price ranges. 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.

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Suwanee, GA, Market Report, August, 2013

Market stats for Suwanee, GA, August, 2013 indicate that there were 314 properties on the market (down from 340 last month). Overall, there was about a 2.7 month supply of properties (down from 2.8 last month). August had 108 sales. Compared to August, 2012 (111), this year was a little down, but inventory was down compared to 2012 (406). There were 124 sales last month, so this month was also lower. The machine has really cranked up over the last three months, and Suwanee seems to be bucking the current Gwinnett county trend which is still good, but slowing.

English: This is a picture of the front entran...

English: This is a picture of the front entrance of Lambert High School in Suwanee, Forsyth County, Georgia. (Photo credit: Wikipedia)

In the Under $200k arena, there were 49 listings in Suwanee, GA, with about a 2.3 month supply (compared to 2.4 months supply last year). This August’s sales were 16 (37 last year, 26 last month). It used to be a county leader, though, for now it is moving back to one of the best price/locale segments again. The next level up is coming up fast, though. Last year at this time, there were 100 listings. Sales are being killed by last year’s, but the way the inventory has dropped, there is a pretty good chance that the low inventory is constricting sales.

Between $200k and $400k, there were 159 listings for sale (192 last year, 174 last month), and 2.2 months of supply. Sales in August, 2013 were 70 (78 in July), compared with 61 for the same period in 2012. Sales have rocked for the last few months.  This shouldn’t be a “peaky” market/price segment. Unlike most of the county, this is the largest price segment in the area, and its direction plays a major part in how the area looks. Make no mistake, this is still way in Seller’s Market territory. This is one of a very few areas where the $200k-$400k segment is ahead of the under $200k segment.

From $400k to $600k, there were 55 homes on the market. The absorption rate was at 3.2 months (3.5 in July). There were 17 sales in August (17 last month)… up from 9 last year at this time. Looking at the three month average, there were 51 sales this year and 28 for the same period last year. This segment had become dramatically stronger in the last couple of months.

In the $600k to $800k arena, there are 24 listings, with about a 5.1 month supply. Sales at this level are not consistent, but there were 4 sales this month (3 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 14… For the same time last year, the sales were 13. With the huge decrease in listings over the last couple of months, I was looking for this to become one of the strongest $600k-$800k area in the county. It is fairly strong right now… we’ll have to see if it holds.

The range from $800k to $1m, there are 9 homes listed and 54 months of inventory on the market. There were only 4 sales at this price level in 2011. There were 7 in 2012. This is a tough segment to try to sell in right now, but if inventory stays low, it won’t be quite as rough. But there still needs to be some more sales activity. There was 1 sale in March.  Such a difference between this segment and the one below.

In Suwanee, GA, Above $1m, there are 18 properties listed. The current absorption rate indicated about 27 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales. In this segment, we should be seeing reduced inventories… There were 24 homes listed in this segment at this time last year. There was 1 sale in August.

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.

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Lilburn, GA Market Report, July, 2013

Market stats for Lilburn, GA, July, 2013, indicate that there were 209 properties on the market, up 7 from last month. Overall, there was about an 3.6 month supply of properties and 71 properties that closed (sold) in July! It was a decrease from last year’s sales (84) but huge compared to June’s (43 sales). The Absorption Rate notched down slightly. Lilburn had been among the weakest of Gwinnett County, GA, cities I track. But, at 3.58months of inventory, it is fairly strong now. Six months is considered balanced, lower is a seller’s market and higher is a buyer’s market.

BAPS Swaminarayan Mandir Lilburn, Atlanta, Ame...

BAPS Swaminarayan Mandir Lilburn, Atlanta, America’s costliest Hindu Temple, made completely out of White marble. (Photo credit: Wikipedia)

In the sub-$200k arena, there were 119 listings, with about an 2.7 month supply with 48 sales. This represents most of the sales in the market area. Sales were way up from last month (32), and down from last year (61). While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m think we are in a comeback for Lilburn.

Between $200k and $400k, there are 77 listings for sale, and about 5.9 months of supply. This segment had been quite weak for months, and had stalled a little, but came back with a vengeance… only to stall a bit again. There were 19 sales compared to 11 last month and 20 last year. Lilburn has never been seen as a luxury market. The decrease in listings had really helped, but they have started to rise again. I’m still not as confident about this portion of the Lilburn market coming back quite yet… It is strengthening, just not as consistently as I’d like… We are barely back in Balanced Market territory.

From $400k to $600k, there are just 11 homes on the market. The absorption rate is 6.6 months. There was 4 sales in July. Poised for a comeback, but an increase in listings and weak sales don’t give the right ingredients for that to happen. To start with, we can’t have 7 month blank spots in sales (none from Aug11 through Mar12). If we can keep up a sale each month on average, this one will be back. We have a good start… and seeing the A/R drop from 3 YEARS to under 7 months on back to back months is pretty nice.

From $600k to $800k, $800k to $1M and Above $1M, there is 2 listing (combined), but too few sales to have any sort of reliable number of months of inventory. The listing between $800k and $1M, and there is no market activity in the last 12 months for any of those ranges…

Lilburn is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County. It was incorporated in 1910. Lilburn is home to Parkview High School, and also has students in the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School. Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Lilburn Market Data.

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Pardon Our Dust

Construction of the Statue's pedestal

Construction of the Statue’s pedestal (Photo credit: StatueLibrtyNPS)

If you haven’t noticed, there is a lot going on here at the moment…

We recently decided that a better property search tool was in order for the site.  While we were at it, redesigning and freshening the site also seemed to be in order.

So, that’s exactly what we are doing… integrating the new search tool with a new site design.

When complete, there will be a newer, better search option available, as well as the linked option that has been here for the last year.  There will also be some more integration with our other sites, GarageHomesUSA.com and our newest site, UltimateHomeMarketing.com.

Stay tuned…

 

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