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Market stats for Lawrenceville, GA, April, 2012, indicate that there were 1082 properties on the market. Overall, there was about a 4.5 month supply of properties.
In 2011, sales for last April were at 239, so 256 sales was a solid increase, year over year (229). Coupled with the decrease in inventory, things are looking pretty good. Normally the market picks up from January through about June-August. This month we are rocking, better not than last month (275 sales).
For Lawrenceville, GA, Homes Under $200k, there are 910 listings, with about a 4.0 month supply of homes. Sales were well up from April, 2011 (237 v 209). This segment is easily the lion’s share of sales for the area. With the 4.03 month A/R, it is solidly in Seller’s Market territory. The low Absorption Rate (AR) is due to very strong sales, coupled with dramatically lower listing inventories. Month over month sales were down, though, from 260 in March.
Between $200k and $400k, there are 150 listings for sale, and about 10.0 months of supply. Oddly, this had one of the weaker segments in the county, now it’s mid-pack. The 18 sales for April, 2012 were down from the 20 from last year. They were up from the 14 sales last month. Sales should have been closer to 20 units for April. We are still solidly in Buyer’s Market territory here.
From $400k to $600k, there are 16 homes on the market. The absorption rate is around 12.0 months. However, with the level of sales in this segment, a couple of sales added or subtracted can have a HUGE impact. There were 1 sale for April, the Absorption Rate has dropped from 78 months last June, through good, but sporadic sales. There were 0 sales in April, 2011. This is acting like a luxury market and the A/R is jumping all over the place… with just a few sales (A/R was 7.1 5 months ago). While the long term trend was looking a little better, now it is still pretty choppy.
- In the $600k to $800k arena, there are 3 listings, with about 9.0 months of supply. As with the next lower priced segment, a couple of sales makes a big difference and there were 0 sales in April. There were only 6 sales at this level in all of 2011, 2 of them were last January. There was 1 sale in January 2012.
Between $800k and $1M, and Above $1M there are 3 homes listed (combined) and not enough sales data to give an accurate absorption rate. There has only been one sale in this range in the last 3 years (Aug, 2010), according to FMLS.
Lawrenceville is in Gwinnett County, GA, just outside of Atlanta. As of the 2000 Census, there were 22,937 people in Lawrenceville, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County (2008 estimates from the Census Bureau peg population around 29,000). It was incorporated in 1821. Lawrenceville is home to Central Gwinnett High School, and also has students that the Mountain View and Archer clusters. It is also home to Gwinnett Technical College and Georgia Gwinnett College. Another recent addition to Lawrenceville is that it is home to the Gwinnett Braves, playing at the Gwinnett Stadium on GA20 between I-85 and GA316. Possibly the most famous resident of Lawrenceville was Oliver Hardy. As a small boy he lived in Lawrenceville with his parents for a short time. Lawrenceville was also home to Junior Samples. Some of its other residents included Jeff Francouer, Brian McCann and Jennifer Ferrin.
I have a page dedicated to Lawrenceville Market Data.
Related articles
- Lawrenceville, GA Market Report, March 2012 (lanebailey.com)
- Lawrenceville, GA Market Report, February 2012 (lanebailey.com)
- Lawrenceville, GA Market Report, January 2012 (lanebailey.com)
- Lawrenceville, GA Market Report, December 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, November 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, October 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, September 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, August 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, June 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, May 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, April 2011 (lanebailey.com)
- Lawrenceville, GA Market Report, March 2011 (lanebailey.com)
- I’m Always Up For a Good Surprise.. (lanebailey.com)
- Gwinnett County Public Schools Making Changes… (lanebailey.com)
In 2011, sales for last March were at 239, so 275 sales was a solid increase, year over year. Coupled with the decrease in inventory, things are looking pretty good. Normally the market picks up from January through about June-August. This month we are rocking, better than last month (196 sales).
In 2011, sales for February were at 152, so 196 sales was a solid increase, year over year. Coupled with the decrease in inventory, things are looking pretty good. Normally the market picks up from January through about June-August. This year we are not bad, but not quite better than last month (213 sales).