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Tag Archives: market report

Sugar Hill, GA, Market Report, February 2012

Wednesday, 21 March 2012 08:00
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Market stats for Sugar Hill, GA , February, 2012 indicates that there are 159 homes on the market. Overall, there is about an 5.9 month supply. There were 20 sales, compared to 31 last month and 15 last February. The Absorption Rate (AR) increase, largely due to the decrease in sales.

For Sugar Hill homes priced under $200k, there are 120 listings, with about 5.1 months supply. There were 18 sales this February, significantly than last year for the same time (12). But, last month there were 24 sales. Inventories have been fluid, rising and falling. Normally, this time of year we see inventories leveling out, but this month there was a slight increase.

Sugar Hill Listings between $200k and $400k, there are 37 listings for sale, and about 10.1 months of supply. Last February there was an 11.3 month supply. There were 3 sales, this year there were 2. Last month had 7 sales.

For listings in the $400k to $600k range, there is 1 home on the market. The absorption rate is around 1 months, but with 3 sales in November (and those being the only sales since July), it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. I still hope to see some consistent activity in this segment.

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 is only 1 home listed for sale in that price range. 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.

I have a page dedicated to Sugar Hill Market Data.

Atlanta Metro Zillow Home Value Index

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Lilburn, GA Market Report, February 2012

Friday, 16 March 2012 08:00
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Market stats for Lilburn, GA, February, 2012, indicates that there were 358 properties on the market (as of February 29th).  Overall, there was about an 7.5 month supply of properties and 43 properties that closed (sold) in February.  It was an increase from last year’s sales (26) but a slight decrease from January (46 sales).  The Absorption Rate notched down a bit.  Lilburn had been among the weakest of Gwinnett County, GA, cities I track.  But, at 7.51 months of inventory, it isn’t nearly as bad as it had been just a few months ago (14.35 months of inventory in Feb, 2011, for example).

In the sub-$200k arena, there were 258 listings, with about an 6.2 month supply with 36 sales.  This represents most of the sales in the market area.  Sales decreased slightly from last month (46), and were also up dramatically from last year (22).  While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m still pulling for a comeback for Lilburn.  The track is getting a little better.

Between $200k and $400k, there are 90 listings for sale, and about 15.0 months of supply.  This segment had been quite weak for months, and had stalled a little, but came back with a vengeance.  There were 7 sales compared to 4 last year.  This segment really needs to get back into single digit A/Rs … but, Lilburn has never been seen as a luxury market.  But 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 quickly as I’d like.

From $400k to $600k, there are just 5 homes on the market. The absorption rate is 7.5 months (one year average). There were 2 sales in March, which really turned the segment around, followed by 1 sale for April. May posted 2 sales, 1 sale in June, 2 in July and none since.  The apparent strength in the A/R isn’t from recent sales as much as from low listing vol

From $600k to $800k, $800k to $1M and Above $1M, there are 5 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 that 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.

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I have a page dedicated to Lilburn Market Data.

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Suwanee, GA, Market Report, February 2012

Monday, 12 March 2012 08:00
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Market stats for Suwanee, GA, February, 2012 indicate that there were 433 properties on the market (down from 440 last month).  Overall, there was about a 7.3 month supply of properties (down from 7.9 last month).  February had 64 sales.  Compared to February, 2011 (53), this year was a stronger.  Inventory was down compared to 2011 (604).  The last six months had been very strong, but that came on a very weak June and just average sales for a couple of prior months.  February was stronger than January, but still not as strong as it was a few months ago.  It will be interesting to see if the strength carries through another month.

In the Under $200k arena, there were 133 listings in Suwanee, GA, with about a 4.3 month supply (131 and 4.4, respectively last year).  This February’s sales were WAY up, at 30 (22 last year, 17 last month).  This was definitely the strongest price segment in Suwanee.  I’m hoping that January was an anomaly.

Between $200k and $400k, there were 195 listings for sale (284 last year, 207 last month), and 8.4 months of supply.  Sales in February, 2012 were 27 (16 in January), compared with 26 for the same period in 2011.  Sales have been bouncing between very strong and average for the last few months.  I’d like to see some consistency around 35-40 sales for the next couple of 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.  And for the last few months, despite there being more listings in this segment, the under $200k segment has had more sales.

From $400k to $600k, there were 62 homes on the market.  The absorption rate was at 12.4 months (12.0 in January).  There were 4 sales in February (5 in January)… up by 3 compared to last January.  Looking at the three month average, there were 15 sales this year and 10 for the same period last year.  This segment had gotten dramatically stronger in the last couple of months, but stayed sort of weak this month.  We should be looking at close to 12 sales for March… I was hoping (but not expecting) 12 for February.

In the $600k to $800k arena, there are 15 listings, with about a 15 month supply (HUGE reduction from last month’s A/R of 51).  Sales at this level are not consistent, but there were 3 this month (0 last month).  Looking at one month makes the numbers jump around.  For the last three months, sales were 3…  For the same time last year, the sales were 4.  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.  But until I see 2-3 sales a month on average, I can’t call this one strong.

The range from $800k to $1m, there are 4 homes listed and 12 months of inventory on the market.  There were only 4 sales at this price level last year (1 in April, 2 in July and 1 in August) .  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 sales activity.

In Suwanee, GA, Above $1m, there are 24 properties listed.  The current absorption rate indicated about 24 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales (only 1 sale for October, 0 for November, 1 for December and 2 for January).  In this segment, we should be seeing reduced inventories…  There were 27 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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Norcross, GA, Market Report, January 2012

Friday, 02 March 2012 08:00
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Market stats for Norcross GA, January, 2012 indicate that there were 241 properties on the market.  Overall, there is about a 5.7 month supply of properties.  The last year has been fairy strong… although April and May weren’t that strong (April was below last year)… it hasn’t slowed much, if at all.  January saw 40 sales, ever so slightly below the 41 for January, 2011, and well under the 52 for December.

In the sub-$200k arena, there were 140 listings, with about 3.4 month supply.  Sales are well off from last month but only slightly up from a year ago in this segment, which is the main driver of sales in this area (33 v 32 in Jan11 & 46 Dec11).  For the last seven months, 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 barely over 3 month A/R, this is VERY strong for sellers.

Between $200k and $400k, there were 67 listings for sale, and about 14.4 months of supply.  This segment has been weakening for the last four months.  The 6 sales were slightly up compared to last year’s 5 sales, but solidly up from last month’s 4 sales.  Even though it isn’t gangbusters, it is certainly better than the 28 months of inventory we had in December, 2010.  Coming off of a reasonably strong summer selling season is why this segment looks like it is weakening.

From $400k to $600k, there were 26 homes on the market.  The Absorption Rate is around 15.6 months.  The AR had been fairly steady for months, then shot WAY up in January.  January’s 1 sale was down from 2 the month before and from last year’s 3 sales.  This had actually been a pretty good area for homes in this price range to sell…  The good news is that it would only take a few sales to put it back in a balanced range.

In the $600k to $800k arena, there were 4 listings on the market.  Inventories doubled compared to last year.  The Absorption Rate is at 12 months of inventory… but with only 4 sales in 2010 and 4 sales in 2011, the last in November (0 in December or January), 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 range from $800k to $1m, there was 1 home listed on the market and no sales… seemingly forever.

Above $1m, there were 4 properties 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.

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Duluth, GA, Market Report, January 2012

Monday, 27 February 2012 08:00
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Preliminary stats for Duluth, January, 2012 indicated that there were 449 properties on the market.  Overall, there is about an 9.8 month supply of properties.  Sales in January were 30, slightly down from 40 a year earlier.  But, sales were way down compared to the prior month (57).  Duluth had been slightly leading Gwinnett County as a whole, but not so much over the last four months.

In the Under $200k arena, there were 180 listings in Duluth, GA, with about a 7.1 month supply.  The Absorption Rate for October, was 3.55.  Sales in January were down this year v last year (13 v 23), and way down compared to last month (35).  The Absorption Rate (A/R) is a bit better than most of the county… but it has decelerated again this month.

Between $200k and $400k, there are 131 listings for sale, and about 12.3 months of supply.  Absorption rates have similarly risen, dropped and then risen again, but have been moving mostly the wrong way (up) since August.  Sales were up compared to January, 2011 (10 v 7) but down compared to last month (14).  Duluth is a market that favors luxury, but this segment is not doing that well… although it is one of the few to beat last year.

From $400k to $600k, there were 46 homes on the market.  The Absorption Rate was around 8.1 months.  January brought in 4 sales. There were 6 last year and 5 last month.  As with much of the county, the recovery that seems to be solidifying at the lower end of the price strata is much weaker here.  Duluth is a luxury centric market, and it is doing better than the rest of Gwinnett County, GA, but the segment is still kind of weak, but it’s better than last month… and one of a very few to have posted a better A/R than in the previous month.

In the $600k to $800k arena, there were 33 listings, with about 9.9 months of supply.  Sales were 3 for January… 4 for January last year.  Month to month sales were actually up (3 v 2).  Last month was ok, but 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 looks better than the rest of the County at this price level.

In Duluth, GA, from $800k to $1m, there were 23 homes listed and approximately 69 months of inventory on the market.  The 0 sales recorded for January was flat with last year’s 0 and from the 0 from last month.  Sales haven’t been moving much for the last couple of months, but 1 sale for the last3 months has killed the 3 month average A/R.  It isn’t as weak as that suggests… at least I hope it isn’t.

Above $1m, there were 36 properties listed. The current absorption rate indicated about 54 months of inventory. A couple of sales at this level could have a large impact on the Absorption Rates. There were 2 sales in the Nov-Jan period this year, and 3 for the same time last year. Fall was weak last year, but we should be posting four sales a month here instead of the 0 we got.

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.

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I have a page dedicated to Duluth Market Information.

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