5 Bed / 6 Bath Home in The River Club

4834 Elkhorn Hill Drive

Suwanee, GA 30024

$3950000
Welcome Home to your Elegant Rustic Style Lodge with unique custom finishes and high quality Craftsmanship throughout the home. A splendid setting where elegance meets nature. This 5BD/6.3 BA home (2 of the BD's are master Suites)has private view of the Greg Norman Golf Course, a pond and mature woods. Backyard features pool w/hot tub,waterfall and Firepit for your everyday enjoyment. 2 Cooks kitchens, 6 FP's,Spa area on terrace level w/Sauna,Steam shower,massage room, work out room & Aerobic room.3 Laundry rooms, Elevator, Wide plank hand scraped walnut floors.

Summary

MLS #5650314
Price3950000
Bedrooms5
Bathrooms (Full)6
Square Footage10185
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 7 Bath Home in THE RIVER CLUB

4745 Cuyahoga Cove

Suwanee, GA 30024

$3790000
ONE OF THE MOST IMPRESSIVE FRENCH PROVINCIAL ESTATES TO REACH MARKET IN N. ATLANTA, BOASTING UNPRECEDENTED DETAIL & ARCHITECTURAL CUSTOM CRAFTSMANSHIP.... SITTING ON A LEVEL CUL-DE-SAC LOT YET PERCHED TALL ABOVE THE GREG NORMAL GOLF COURSE, WITH PANORAMIC VIEWS AND 380 FT OF LAKE FRONTAGE, THIS HOME TOOK ALMOST $1 MILLION IN HAND-CUT TENNESSEE STONEWORK ALONE. ENJOY WIDE-PLANK HEART OF PINE FLOORING, LARGE AND ENTERTAINING OPEN FLOOR PLAN. ABSOLUTELY STUNNING GOURMET CHEF'S KITCHEN WITH DOUBLE SUB ZEROS- AND VIRTUALLY EVERY CONCEIVABLE OPTION. 4 FIREPLACES. 5-CAR

Summary

MLS #5718436
Price3790000
Bedrooms7
Bathrooms (Full)7
Square Footage11738
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4695 Whitestone Way

Suwanee, GA 30024

$2599000
Custom Home in The River Club. 6 Bedroom 6.5 Ba on double lot backing golf course. 1st floor features large 2 story foyer overlooking LR with handsome study and large entertaining DR. Gourmet kitchen overlooks oversized Family Room and covered porch. Master on main and 2nd bedroom on main. Upstairs features 3 bedrooms all with private baths and large dressing area. Terrace level features bedroom and bath, Bar area, game room and theatre.

Summary

MLS #5751567
Price2599000
Bedrooms6
Bathrooms (Full)6
Square Footage8412
Square Footage SourceAppraisal
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4605 Whitestone Way

Suwanee, GA 30024

$2500000
Exquisite estate home with the finest attention to detail throughout. Overlooking 4th green, home features marble inlayed foyer, Liv Rm, Office w/FP, opulent Great Rm w/FP, state of the art Kitchen, Stunning Keeping Rm w/beamed ceiling & FP, Romantic Master on main, elevator, World class terrace Lvl w/Rec Rm w/FP, Bar, Billiards Rm w/FP, Humidor, Home Theater(all equipment stays!), 2nd master suite & most beautiful finish work in the River Club. Pool & spa w/stone surround, stunning outdoor living areas. WOW!

Summary

MLS #5722910
Price2500000
Bedrooms6
Bathrooms (Full)6
Square Footage9476
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

869 Big Horn Hollow

Suwanee, GA 30024

$2450000
Welcome home...you've earned this! Enter an innovative floor plan built for entertaining & family enjoyment. Delight in vaulted wood beamed ceilings throughout, wood, brick & travertine floors, wide baseboards, stained doors throughout. The chef of the family will revel in the showcase kitchen of granite and brick. Master on main, separate his & hers baths/closets with car wash shower for both to enjoy. Terrace level is filled with customized features including media room with built in show cases for memorabilia, bar, wine cellar, game room, cozy rec room with fireplace

Summary

MLS #5713023
Price2450000
Bedrooms6
Bathrooms (Full)6
Square Footage9663
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

912 Little Darby Lane

Suwanee, GA 30024

$2099000
Old world European inspired master piece, indescribable detail thruout,in private setting, 2 story grand foyer w/spiral staircase, pecky cypress paneled study, gourmet kitchen views to fireside keep rm ,Private master suite on main level w/spa like master bath, his/hers closets w/custom built-ins, whole house audio system ,cover porch w/outdoor fireplace/Terrace level features: Pub style bar,w/1800 bottle wine cellar, theater seats 8 features concession stand, billiard rm,card rm,spa rm w/sauna, salt water pool & spa w/cascading waterfalls & outdoor fire pit.

Summary

MLS #5693604
Price2099000
Bedrooms6
Bathrooms (Full)6
Square Footage9755
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

811 Flathead Pass

Suwanee, GA 30024

$1975000
Exquisite stone home. Quiet cul-de-sac. 1+/- acres. Impeccable detail + finishes, motor court w 6-car garage. Dormer windows w diagonal panes, peaked arches accent old world architecture. Entry offers views of dining rm + 2-story fireside great rm w 16' windows + flanking bookcases. Arched 8' French doors + 14' ceiling in fireside library. Chefs kitchen w generous counterspace, walk-in pantry, opens to fireside keeping rm w walls of windows + coffered ceiling. Owners suite w 14' ceiling, fireplace, luxury closet 'for her', spiral stairs to 'his closet' + exercise space,

Summary

MLS #5756560
Price1975000
Bedrooms6
Bathrooms (Full)6
Square Footage8200
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

962 Little Darby Lane

Suwanee, GA 30024

$1849999
Exquisite details with superb finishing mark this amazing River Club home! Formal DR w pecky cypress walls, rustic aged exposed beams, handkerchief ceiling in foyer w built in bookcases. Kitchen built for 2 chefs w island feat all Viking appl & custom inlay cabinetry. Owners suite on main. Barn door leads to pool bath, mud rm w laundry & hammered copper sink. Junior master w spa bath. Finished terrace level& outdoor living at its finest. Complete w private 1 Bdrm Guest House w kitchenette & screened porch overlooking saltwater pool w spa.

Summary

MLS #5645985
Price1849999
Bedrooms6
Bathrooms (Full)5
Square Footage7603
Square Footage SourceBuilder
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

878 Crescent River Pass

Suwanee, GA 30024

$1799999
Stunning Brick & Stone Manor home w good golf course views. Outdoor living rooms on multi levels w fireplace overlooking pool & waterfall spa. Chefs kitchen w mixed woods. Working island w veggie sink, warming drawer, Wolf gas coooktop, dual dishwashers, subzero and wine chiller. Main floor boasts study w fireplace, living room w fireplace & stone walls, formal dining room, & owners suite on main. 3 generous ensuite bedrooms upstairs. Terrace level finished w media, billiards area, custom bar, wine, office, & guest bedroom w full bath.

Summary

MLS #5758623
Price1799999
Bedrooms5
Bathrooms (Full)5
Square Footage7316
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 5 Bath Home in The River Club

5212 Boulder Bluff Way

Suwanee, GA 30024

$1789900
A cul-de-sac lot, this 6 bed home offers an abundance of outdoor living spaces,spa pool & fire pit backing up to natural woods. Foyer flanked w/a large DR & study.The kitchen has it all: island w/serving bar,walk-in pantry & counter space for the home chef.The vaulted kitchen-family room is accented w/ truss beams. Main floor master has spacious his/her walk in closets. A finished terrace w/ theater, family/billiards & game rooms,full kitchen, weight room, guest suite & BA completes this home.

Summary

MLS #5687744
Price1789900
Bedrooms6
Bathrooms (Full)5
Square Footage7553
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in None

2915 Southers Circle

Suwanee, GA 30024

$1680000
Peaceful estate with all the amenities-an entertainer's delight! Enter through the iron gate & follow the drive through the trees to your new dream home. A must see with no detail forgotten! Gorgeous Chef's kitchen open to keeping room & breakfast area. Master on main. Finished basement w/full kitchen, custom walnut bar, theater room & more. Saltwater pool/spa with auto cover & outdoor fireplace. HUGE shop w/14' RV door & second 12' door, foam insulation, wired 220 w/gas lines run. Enjoy the convenience of the Chattahoochee Recreation Area out your back door.

Summary

MLS #5740199
Price1680000
Bedrooms6
Bathrooms (Full)6
Square Footage5385
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 4 Bath Home in The River Club

4870 Hanalei Hollow

Suwanee, GA 30024

$1599990
Home must be sold with a 18-24 month lease back. Fabulous Arthur Rutenberg Custom Home siutated in the River Valley at The River Club. This stunning home features an open floor plan for entertaining, gourmet chef's kitchen and owners suite on the main floor. Upstairs are 3 additional on suite bedrooms and a bonus room. Home has amazing view of 16th fairway and is walking distance to the club. This home is sold furnished.

Summary

MLS #5765916
Price1599990
Bedrooms4
Bathrooms (Full)4
Square Footage4333
Square Footage SourceBuilder
StatusActive

Features

6 Bed / 6 Bath Home in THE RIVER CLUB

4732 Blackwater Way

Suwanee, GA 30024

$1599900
Sitting beautifully on the 6th hole, this home has all the extensive trim/finishes any discriminating buyer will appreciate! Filled w natural light w features to include solid teak flooring, true hand crafted masonry frpl, planked walls in FR, waterworks faucets throughout, custom interior trim & built ins, calcutta gold marble counter tops, & custom hardware. Home is accented w hand baked brick, stone foundation & slate roof for welcoming appeal. Owner suite up w frpl & bath w waterworks tub, steam shower & bidet. Terr lvl w kitchen/bar & bath. 4 car garage too!

Summary

MLS #5566477
Price1599900
Bedrooms6
Bathrooms (Full)6
Square Footage7800
Square Footage SourceTax Record
StatusActive

Features

7 Bed / 8 Bath Home in Belmore Estates

4994 Price Drive

Suwanee, GA 30024

$1599000
Stunning brick & stone estate on over 1 acre in private gated community. Resort style pool featuring waterfall,slide,hot tub, & fire pit plus covered porch w fireplace.4car garage, 8 fireplaces, 3 laundry rooms. Huge owner's suite w private balcony, spacious secondary bedrooms & lofts. Gourmet kitchen well-equipped w high-end appliances opens to spacious keeping room & breakfast room overlooking pool.Terrace level has 2nd kitchen/bar, theater, fitness, steam sauna, game room, den, & guest suite. MANY details and UPGRADES! Luxurious Lifestyle!

Summary

MLS #5765505
Price1599000
Bedrooms7
Bathrooms (Full)8
Square Footage11592
Square Footage SourceTax Record
StatusActive

Features

6 Bed / 6 Bath Home in The River Club

4505 Whitestone Way

Suwanee, GA 30024

$1550000
Tuscan columns and a wrought iron railing greet you at the covered porch of this brick & stone estate, inviting you to step inside. The gracious interior includes 12' ceilings, panelled study, sunny solarium with brick walls & soaring arched windows, a chef's dream kitchen w/ honed granite counter tops, soapstone apron sink, top of the line appliances. Tremendous entertaining space with covered outdoor living space including an outdoor dining porch. Guest suite on main lined by leaded glass windows w/ access to the covered porch.

Summary

MLS #5634131
Price1550000
Bedrooms6
Bathrooms (Full)6
Square Footage8187
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

932 Chattooga Trace

Suwanee, GA 30024

$1490000
Modern Day CHIC nestled in the ultra exclusive River Club. Every detail was carefully selected and quality crafted; Reclaimed wood beams & finishes, shiplap & birch walls, Luster Stone walls & ceilings, rich moldings. Master suite on main offers serenity & privacy. Open 2 story family room w/ stone fireplace & T&G ceiling adjacent to the modern renovated chef's kitchen. Enjoy alfresco dining on the covered porch or enjoy smores by the fire on the amazing renovated Trex deck that overlooks the pristine gardens. Full daylight terrace level awaits your finishes.

Summary

MLS #5760185
Price1490000
Bedrooms5
Bathrooms (Full)5
Square Footage5780
Square Footage SourceAppraisal
StatusActive

Features

7 Bed / 6 Bath Home in The River Club

4508 Lochsa Lane

Suwanee, GA 30024

$1490000
Lovely custom brick & stone home in THE RIVER CLUB. Fantastic floor plan W/2 story foyer & LR, executive office, volume ceilings, curved staircase + rear stairs. Beautiful kitchen w/Wolf/Subzero/Bosch/Double ovens & Walk in pantry integrated into cabinetry - overlooks keeping rm w/FP & wood plank ceiling. Guest Suite on Main Level, 4 ensuite BR's up, and 2 BR/1 BA on terrace level along with bar, theater rm (includes equipment) & rec rm. Rear grounds are stunning w/large brick & stone patio, FP, stone pizza oven, grill, sink, stunning hot tub spills over into pool.

Summary

MLS #5743797
Price1490000
Bedrooms7
Bathrooms (Full)6
Square Footage8116
Square Footage SourceAppraisal
StatusActive

Features

4 Bed / 5 Bath Home in The River Club

878 Big Horn Hollow

Suwanee, GA 30024

$1488888
Superb craftsmanship reflect in the River Club brick/stone home. Welcoming foyer feat inlaid floors & flanked by gentleman's Study w custom builtins & formal DR. Natural light fills the GR w fireplace & wet bar. Gourmet Kit feat dual Dishwashers, Subzero, Thermador 6 burner cooktop & dual convection ovens, large island & 2 pantries! Main level owner ste w sitting area & spa bath. Stained Canadian Maple hardwood flooring, 2 ensuite bdrms up & junior owner ste w jetted tub & dual vanities. Fin terr includes billiards/game room & gym w rubber flooring w full bath.

Summary

MLS #5758524
Price1488888
Bedrooms4
Bathrooms (Full)5
Square Footage7133
Square Footage SourceAppraisal
StatusActive

Features

5 Bed / 5 Bath Home in The River Club

5108 Coosa Court

Suwanee, GA 30024

$1475000
Located in a Private setting,home has been meticulously maintained paneled study, gourmet kitchen views to fireside vaulted keep rm,hardwood flooring throughout,master suite on main level w/spa like master bath, his/hers closets w/custom built-ins,second master suite upstairs,large secondary bedrooms w/private baths & great closet space,laundry on main & upstairs cover screen porch w/outdoor fireplace amazing backyard w/stone paver patio that views cascading waterfall & outdoor fire pit.Home backs up to nature preserve,prefect lot for pool walk out from your main floor

Summary

MLS #5765721
Price1475000
Bedrooms5
Bathrooms (Full)5
Square Footage6603
Square Footage SourceTax Record
StatusActive

Features

5 Bed / 4 Bath Home in The River Club

4971 Roaring Fork Pass

Suwanee, GA 30024

$1426000
Stunning J. Patrick O'Donnell brick & stone masterpiece brimming with character in The River Club. Situated on wide lot with preserved forest area, this 5BR, 4 and 2 half BA home is loaded with high-end features, including custom closet system in elegant master retreat on main. Chef's kitchen with pot filler, beverage refrigerator, warming drawer, farm sink, sliding barn door and Wolf range opens up to vaulted, beamed ceilings in family room and screened porch with fireplace. Perfect for entertaining! Full daylight lower level is framed, roughed in for lg in-law suite.

Summary

MLS #5706779
Price1426000
Bedrooms5
Bathrooms (Full)4
Square Footage5000
Square Footage SourceBuilder
StatusActive

Features

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Tag Archives: buyers

What a Seller Sees in YOUR Offer…

Last week I outlined 5 things you might be able to do to make YOUR offer the winner in today’s real estate market.  Now we are going to look at offers from the perspective of a seller…

What is important to a Seller?

English:

English: “The Flower Seller,” a portrait by photographer Joseph Knaffl, taken circa 1916 at his Knoxville, Tennessee studio. (Photo credit: Wikipedia)

To begin with, keep in mind that each seller is a unique individual (or pair of unique individuals… or company with unique individuals overseeing sales of assets/homes).  What tops the charts for one seller might hardly merit a mention with another.

  • Timing.  This is huge for some sellers.  As mentioned before, the longer the time between contract and closing, the more than can go wrong.  And what sellers often worry about “going wrong” is that the buyer will simply back out.  But there are also considerations that revolve around the cost of holding the house, like mortgage payments, utilities and maintenance.  The seller has likely “disengaged” from this home and invested themselves in another.  On the flip side, some sellers might need some time here because they still have to find a house.  Offering a fast close, but stating that you are flexible and able to meet the seller’s needs may be a deal-maker. 
  • Financing.  First, there is NO excuse to not have a good pre-approval letter.  OK, the one acceptable excuse is if you have a “proof of funds” letter and you’re paying cash.  If you have the money for a larger down-payment, that might be the deal-maker for you.  And at least explore alternative options to FHA and VA financing.  FHA or VA may be your best bet… but KNOW they are instead of just assuming.  And if you have the liquid cash to make the purchase, talk with your mortgage professional about the option of purchasing with cash and then doing a cash out refi.
  • Photo taken in Bodie, California. See file name.

    Photo taken in Bodie, California. See file name. (Photo credit: Wikipedia)

    Inspections.  I expect that any of my buyers will want an inspection.  However, if you REALLY know what you are doing, buying a house “as-is” instead of subject to an inspection or “due diligence” period can really set the mood for a better deal with the seller.  There are dangers, but they might be offset by the savings.

  • Earnest Money.  I almost always recommend that a buyer offer up 1% for earnest money ($1000 minimum).  Offering up less just doesn’t seem as serious to me.  While seldom do buyers lose it unless they do something egregious, it does look better to sellers.
  • Price.  If you are deficient in one area, you may be able to make up for it in another.  I know that isn’t the goal, but it is a reality.  You aren’t going to get the best price, while at the same time getting the seller to accept a long closing, riskier lower down payment and loan type, long due diligence period and other non-monetary concessions.

So, let’s put on the Seller shoes…

Your house is on the market, listed at $250k.   Sales have been moving along well in the neighborhood, and like almost all sellers, you think your house is “better than average”.  Here are three offers to look at.  Which one do you think is going to be the winner?

  1. $230k price.  No closing costs.  21 day close.  $2,300 in earnest money.  No inspection.
  2. $250k price.  $7,500 in closing costs (3%).  45 day close.  $2,500 in earnest money.  10 day due diligence period.
  3. $260k price.  $10,400 in closing costs (4%).  60 day close.   $1,000 in earnest money.  7 day due diligence period.

I’d love to get some comments as to which offer YOU like most and why.

 

 

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5 steps to get YOUR offer to be the one that WINS

exterior

Be the winner…

A couple of years ago all of the strategies revolved around finding ways to get the lowest price out of a seller.  Then, it morphed to finding the line where the bank would sell.  Over the last few months, the next evolution has come

Winning the bid.

Often we see good houses come on the market and go under contract in less than a day.  These homes are often pulling in multiple offers, some considerably above the asking price.  Yet, many buyers are still convinced that we are in a market that favors them.  We aren’t… except for a few less desirable neighborhoods or some very high price points.

master_bedroom_2

master_bedroom_2 (Photo credit: lane.bailey)

In order to actually buy a house, instead of just making offers, there are a few steps you can follow to “win the bid”.

  • Get a serious pre-approval.  If your mortgage person isn’t pulling your credit and spending some time getting it, it probably isn’t worth getting.  Sellers see an offer with a pre-approval as being MUCH more serious than one without.
  • Have a down payment.  The larger the down payment, the more stable to buyer.  Of course, this is going to vary depending on the buyer segment (1st time buyers usually don’t have 20% to put down… I understand that).
  • Cash is King and FHA is the Stable Boy.  FHA loans are the toughest on sellers.  Not only does the property need to appraise on value, but it has to meet specific criteria for condition.  Most houses meet everything, but an old roof or a missing handrail can turn into anything from a headache to a nightmare for the seller (and the buyer).  A cash sale, on the other hand, is pretty assured.  Conventional loans fall somewhere in the middle… and VA are more rare, but slightly tougher than FHA on the seller.
  • Be ready to close ASAP.  The longer the seller has to wait between an agreement and a closing date, the more that can go wrong and the more expenses that can get racked up.  Aside from the seller’s house payments and utilities, there is lawn upkeep and maintenance on the house.  Not only that, but if you are waiting 2 or 3 or 4 months to close, the seller may think you could develop a case of “cold feet” and change your mind.
  • Price heals all.  We used to tell this to sellers… poor condition can be corrected with price.  Much to their dismay, that “correction” was usually an over-correction.  Now, the shoe is on the other foot.  Buyers that have issues with some of the above conditions can “heal” their offers with price.  But that “healing” is likely to involve a larger bump in the offer than one might think…  Of course, in the end, it comes down to the seller and what is most important to them.

In next week’s post, we’ll look at 3 sample offers and compare them…

 

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Lilburn, GA Market Report, May, 2013

This map shows the incorporated and unincorpor...Market stats for Lilburn, GA, May, 2013, indicate that there were 194 properties on the market, up 15 from last month. Overall, there was about an 3.4 month supply of properties and 61 properties that closed (sold) in May. It was a slight decrease from last year’s sales (68) and from April’s (50 sales). The Absorption Rate notched down slightly. Lilburn had been among the weakest of Gwinnett County, GA, cities I track. But, at 3.44 months of inventory, it is strong now. Six months is considered balanced, lower is a seller’s market and higher is a buyer’s market.

In the sub-$200k arena, there were 126 listings, with about an 2.8 month supply with 51 sales. This represents most of the sales in the market area. Sales were up from last month (38), and down from last year (59). 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. At 2.84 months of inventory, with a few months of stats getting better, we’re there.

Between $200k and $400k, there are 57 listings for sale, and about 4.9 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 9 sales compared to 12 last month and 8 last year. Lilburn has never been seen as a luxury market. The decrease in listings has really helped. 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. April was strong… We are in Seller’s Market territory.

From $400k to $600k, there are just 9 homes on the market. The absorption rate is 27 months. There was 1 sale in May. 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.

From $600k to $800k, $800k to $1M and Above $1M, there are 2 listings (combined), but too few sales to have any sort of reliable number of months of inventory. March posted the first sale since August, 2010. It was in the $600-$800k range. One of the listings is above $1M and one between $800k and $1M, and there is no market activity in the last 12 months for 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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Norcross, GA, Market Report, May 2013

This map shows the incorporated and unincorpor...Market stats for Norcross GA, May, 2013 indicate that there were 123 properties on the market, down 4 from last month. Overall, there is about a 2.7 month supply of properties. The last year has been fairy strong… it hasn’t slowed much, if at all. May saw 48 sales, up a little from the 44 last month, but down compared to the 57 for May last year.

In the sub-$200k arena, there were 59 listings, with about 2.3 month supply. Sales are up a little from last month (25) and way down from a year ago in this segment, which is the main driver of sales in this area (27 v 37 – May13 v May12). For the last two years, the AR has been tilted in favor of sellers. This still looks like one of the strongest price/area segment in Gwinnett County, GA. At a 2.30 month A/R, this is pretty strong for sellers.

Between $200k and $400k, there were 43 listings for sale, and about 3.2 months of supply. This segment had been weakening for the last few months. But, the 16 sales were flat from last year’s 16 sales, but up from last month’s 10 sales. Even though it isn’t as gangbusters as some of the other areas, it is certainly better than the 28 months of inventory we had in December, 2010. I think this is starting to look like a pretty settled market here…

From $400k to $600k, there were 18 homes on the market. The Absorption Rate is around 3.2 months. The AR had been fairly steady all summer, then shot WAY up in September/October. May’s 5 sales were down from the 8 last month and up from last year’s 3 sales. This had actually been a pretty good area for homes in this price range to sell… for the last few months.

In the $600k to $800k arena, there were 2 listings on the market. The Absorption Rate is at 6.0 months of inventory… but with only 4 sales in 2010 and 4 sales in 2011, obviously it is easy to bump one way or the other. One reason for the strong looking Absorption Rate last month was that there were so few listings. The was 0 sales for May13, 1 for Apr13 and 0 for May12.

The range from $800k to $1m, there were 0 homes listed on the market and 0 sales in May. There were no sales last year. Unfortunately there isn’t enough data for a good A/R number.

Above $1m, there was 1 property listed. But because of the smaller numbers of sales, the absorption rate could be significantly impacted by just a couple of sales. There is simply not enough activity for an A/R figure. The last sale was January 2011.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,410 but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.

I have a page dedicated to Norcross Market Data.

Atlanta Metro Zillow Home Value Index

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Duluth, GA, Market Report, May 2013

This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Duluth, May, 2013 indicated that there were 276 properties on the market, down 12 from last month. Overall, there was about a 3.8 month supply of properties. Sales in May were 80, down from 91 a year earlier. Sales were up compared to the last month (62). Duluth had been slightly leading Gwinnett County as a whole, but not so much over the last few months. It is still in the Seller’s Market zone.

In the Under $200k arena, there were 81 listings in Duluth, GA, with about a 2.6 month supply. The Absorption Rate for last May was 3.2. Sales were WAY down this year v last year (31 v 50), and up compared to last month (26). The Absorption Rate (A/R) is a bit better than much of the county…

Between $200k and $400k, there are 83 listings for sale, and about 3.6 months of supply. Absorption rates have similarly risen, dropped and then risen again. Sales were up compared to May, 2012 (25 v 20) and compared to last month (18). Duluth is a market that favors luxury, but this segment is not doing as well as I would have expected… but it might be constrained somewhat due to low inventories. It is still a Seller’s Market.

From $400k to $600k, there were 25 homes on the market. The Absorption Rate was around 3.3 months. May brought in 11 sales. There were 8 last year and 9 last month. Unlike many of the market areas, Duluth is a luxury centric market, and it is doing better than the rest of Gwinnett County, GA, especially at this price level. This month saw a HUGE drop in the A/R. We’ve spent the last few months wandering around in Buyer’s Market territory.  However, because of the drop in listings and increase in sales, this is ostensibly the best Seller’s Market in the county.

In the $600k to $800k arena, there were 22 listings, with about 3.5 months of supply. Sales were 5 for May… 2 for last year. And month to month sales were flat (5 v 5). I would like to see three consecutive months with strong sales, and haven’t seen that for a while. Since Duluth does favor luxury sales, it has been looking better than the much of the rest of the County at this price level. That A/R is great, and getting better.

In Duluth, GA, from $800k to $1m, there were 22 homes listed and approximately 16.5 months of inventory on the market. The 0 sales for May were worse than the 6 last year and the 3 last month. Sales haven’t been moving much for the last couple of months, but 4 sales for the last 3 months were well under the same 3 months from last year (9 sales).

Above $1m, there were 43 properties listed. The current absorption rate indicated about 11.7 months of inventory. A couple of sales at this level could have a large impact on the Absorption Rates. There were 11 sales in the Mar-May period this year, and 8 for the same time last year. We should be posting four sales a month here regularly… and we fell short the last few months but barely had a start with it this month with 8 sales. There were 5 sales last year and there was 1 last month.

 

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 former 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.

Atlanta Metro Zillow Home Value Index

I have a page dedicated to Duluth Market Information.

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