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Buford, GA, Market Report, February 2011

Tuesday, 05 April 2011 08:56
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Market stats for Buford, GA, February, 2011 indicate that there were 600 properties on the market. Overall, there was about an 12.2 month supply of properties.  February was up substantially, 60 v 38 sales in 2009.  January was slightly below last year (25 v 28 for 2009).  There were 83 sales in June and an Absorption Rate under 8.5 months.

In the sub-$200k arena, there were 352 listings, with a 10.6 month supply.  Again, this is the largest price segment in this area, so strength here usually equals weakness across the market area.  Sales were up substantially from last month (41 v 18), but pretty flat compared to last year (16 sales in Feb. 2010).  Much of the county has been slowing slightly over the last month, but this is a strong outpost in that bleak land.

Between $200k and $400k, there were 196 listings for sale, and about  14.7 months of supply.  As with many other local price segments, February was well above January (18 v 6 homes sold).  February of last year (19 sales) had a similar bump… hopefully it holds out for a while this time.

From $400k to $600k, there were 31 homes on the market. The absorption rate is almost 18.6 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.  And despite the lower market segments getting better, this one weakened for February.

In the $600k to $800k arena, there were 2 listings.  Absorption Rate is 6 months (averaging a sale every few 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 2 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 6 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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Sugar Hill, GA, Market Report, February 2011

Thursday, 31 March 2011 08:39
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Market stats for Sugar Hill, GA , February, 2011 indicate that there are 231 properties on the market. Overall, there is about an 12.6 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.  Even more odd is a slight drop for February.

For Sugar Hill homes priced under $200k, there are 170 listings, with under 10 months supply.  There were 14 sales this February and 14 last year for the same time.  And December had a nice bump in sales, at 25 homes (just 8 in 2009).  That really cranks the 3 month numbers to look better than they really may be.

Sugar Hill Listings between $200k and $400k, there are 52 listings for sale, and about 22.3 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 the prior year.  January pulled out 3 more sales, which isn’t terrible compared to 5 last year.  February only had 1 sales 3 in Feb 2010, but the decrease in listings was why this segment looks stronger.  That decrease has started to slow and the weakness shows.

For listings in the $400k to $600k range, there are 5 homes on the market. The absorption rate is around 30 months, but with 1 sale 6 months ago, 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, February 2011

Tuesday, 29 March 2011 08:18
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Market stats for Suwanee, GA, February, 2011 indicate that there are 604 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, but things stayed about the same for February.

In the Under $200k arena, there are 176 listings in Suwanee, GA, with about a 10.6 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed…   There were 22 sales, compared to only 16 a year earlier.  February definitely was looking better than January.

Between $200k and $400k, there are 284 listings for sale, and 12.7 months of supply.  Sales for February 2011 were 26, compared with 25 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…

From $400k to $600k, there are 80 homes on the market. The absorption rate is at 24 months.  There were 4 sales this year (Feb)… down from 6 last year.  Even looking at the three month average, there were 10 sales this year and 17 for the same period last year.

In the $600k to $800k arena, there are 24 listings, with about a 18 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 4…  For the sale time last year, the sales were 3.  The segments strengthened, but we can’t call a trend yet… but close.

The range from $800k to $1m, there are 13 homes listed and 3+ years of inventory on the market.  There were 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 27 properties listed. The current absorption rate indicated about 40 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 Dec-Feb 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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Thank you to JA

Monday, 28 March 2011 08:26
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Today is my last JA Day of the year for my regular classes… the last regular Junior Achievement volunteer day for the school year.  I have two fifth grade classes and a high school class that I have been visiting for the last few weeks.  And I’m proud to say that I have done all six fifth grade classes at this elementary school.  It is amazingly rewarding.  The kids are VERY involved.  They flow with energy and ideas… I look forward to seeing all of them each week for an hour or so.

Also, last week, I was able to visit with a couple of JA Fellows Program operation.  The companies I visited with were wrapping up their operations for the year, closing out the books for the businesses, as well as finalizing their presentations for the JA Expo that was held this last weekend.

I haven’t made it a secret how much I have enjoyed my “in classroom” experiences with Junior Achievement.  The engagement of the kids in the program was surprising at first… then refreshing (you hear that all kids want to do is watch TV and play video games, and it isn’t true).  Finally, it is encouraging.

Talking with the kids that were involved in the Fellows Program was really cool.  These kids bump it to another level.  They all CHOOSE to come out during evenings… for up to 22 weeks out of the school year… and create a company, a product and a marketing plan.  Then they see how they can do with the implementation of their ideas.  Talk about being encouraged…  Each of the kids with which I spoke was informed, engaged, well-spoken and passionate.  They knew their company and their products.  The adult advisers were also very connected to the kids.

Maybe YOU should check them out…

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Photo Friday… Take a Lap…

Friday, 25 March 2011 08:03
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Mile 1 at Stone Mountain ParkStone Mountain Park is a great wonderful resource.  In addition to the entertainment options, like the Laser Show and 4D Theater in Crossroads Village, there are recreational options, like Sky Hike or just a nice walk or bike ride around the base of the mountain.

Most folks that live in the area seem to just know that the sidewalk around the base of the mountain is 5 miles long.  There is one easy way to tell… the Stone Mountain Park Memorial Association put granite markers every half mile around the walkway.

Some of them like to hide, but they are all there (took me a GPS with an odometer to find a couple of them… but I found all of them).  And it can help make the walk go by a little quicker to look for the markers, as well as track time between markers.

Obviously, biking around the mountain on the road is about the same distance… but seeing the markers is almost impossible.  But, biking, rather than worrying about individual miles is often less important than thinking about the laps.

By the way, if you want to use the markers, park at the back of the mountain, opposite the carving, in the “Walk-Up Trail Parking Area”.  As you exit the parking lot, headed around the mountain to the left, the markers begin right away (the 5 mi marker marks the start point).

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