Not Found market report | Garage with a Detached Home | Gwinnett County GA

LaneBailey.com

Garage with a Detached Home

Contact Lane

  • Custom Listings

    Sign up to get notified when new listingscome on the market that meet your specs.

    Read More

  • Browse Listings

    Take a look at what is currently on the market in the areas that interest you.

    Read More

  • What's YOUR Home Worth?

    Get a free Maximum Price Analysis to find out the current market value of your home.

    Read More
  • 1

Follow Me on Pinterest

Tag Archives: market report

Suwanee, GA, Market Report, September 2010

Tuesday, 02 November 2010 08:29
Written by
0 Comments
This map shows the incorporated and unincorpor...
Image via Wikipedia

Market stats for Suwanee, GA, August, 2010 indicate that there are 598 properties on the market. Overall, there is about an 10 month supply of properties.  There was less that 8 months of inventory as recently as June, but sales are slowing even faster than inventory is shrinking.

In the sub-$200k arena, there are 144 listings, with about a 8.3 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… although sales for July and August (19 and 15) were exactly the same last year and at 18, there was only one less sale in September v last year.

Between $200k and $400k, there are 311 listings for sale, and 10.7 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.

From $400k to $600k, there are 79 homes on the market. The absorption rate is at 9.1 months.  While 5 sales this year don’t compare favorably with the 9 sales last year, the three month average is almost exactly the same (26 v 27).  There are fewer listings, though.

In the $600k to $800k arena, there are 26 listings, with about a 7.8 month supply.  We can look directly to a reduction in inventory for the drop in absorption rate from 45 months in February… sales are still slower than last year, and seem to be decelerating (1 this year v 4 last September).

The range from $800k to $1m, there are 13 homes listed and approximately 39 months of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 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.  But, in this segment, we should be seeing reduced inventories…

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.

Related articles
Enhanced by Zemanta

Lilburn, GA Market Report, September 2010

Monday, 25 October 2010 08:46
Written by
0 Comments
This map shows the incorporated and unincorpor...
Image via Wikipedia

Market stats for Lilburn, September, 2010, indicates that there are 443 properties on the market (as of September 30th). Overall, there is about a 9.8 month supply of properties.  Lilburn is actually mid-pack among cities in Gwinnett County.  Absorption Rates had been improving since March, until September.  In fact, in March there was 15.3 months of inventory.

In the sub-$200k arena, there are 273 listings, with about an 7.7 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March.  And, one other thing to keep in mind is that sales were strong compared to September 2009 (32 v 25).

Between $200k and $400k, there are 146 listings for sale, and about 19 months of supply. This segment has also been getting stronger each month since March, until this month.  There were only 2 sales in September 2010, compared to 11 last year.

From $400k to $600k, there are 20 homes on the market. The absorption rate is around 15 months. There was one more sale in September 2010 (1) v September 2009 (0) as this year, but there were no sales in this segment in May, June or July this year.  Last summer was much stronger overall.  With just a few sales, just one or two can make a huge difference.

Above $600k, there are 4 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January, March and August).  One of the listings is above $800k, and there is no market activity in the last 12 months for that range…

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.

I have a page dedicated to Lilburn Market Data.

Related articles
Enhanced by Zemanta

Gwinnett County, GA, Market Report, August 2010

Tuesday, 12 October 2010 08:30
Written by
0 Comments

You might have noticed that these reports lag by a month to a month and a half.  The reason for the lag is that it takes until the end of the following month for the data to stabilize.  So, the data for August wasn’t very solid until the beginning of October.  I have tried to use preliminary data, but it always seemed to veer at the last minute…

So, let’s get to the numbers and try to get a handle on what they mean.

At the end of August, 2010, there were 6,473 homes on the market in Gwinnett County, GA.  As expected, there has been a general upward trend in the number of listings all year, but that is slowing… again, as expected.  While this is a lot of listings, it is low compared to the 10,000+ listings that were on the market a couple of years ago.  There were 617 sales in August.  This was down from 697 sales for August, 2009.  Averaging the result for the last three months yielded an Absorption Rate of 9.7 months of inventory.  Which shows an increase since June.  This has been pretty consistent across the board on price and location segments, although not exactly the same in all areas.

The Under $200,000 market segment was the meat in this sandwich.  For August, it represented 4,022 homes listed.  There were 436 sales during that period.  Averaging the last three month gave the segment an Absorption Rate of 8.8 months.  The rate has been rising since May (rather than the more normal June), having bottomed at just under 7.2 months of inventory.  Year over year sales for August were down from 487 in August, 2009.

In the $200,000 to $400,000 range, things are different.  There were 1,838 listings county-wide.  Oddly, the Absorption Rate, currently at about 11.1 months of inventory, has been dropping since March.  In most other segments it has been rising… getting worse.  And while sales are down, listings are down more, which is driving the absorption rate down.  Year over year sales were down significantly, 141 for 2010 v 172 for 2009.

Between $400,000 and $600,000, there are 354 listings in Gwinnett County and 25 sales for August, 2010.  Again, the Absorption Rate has been basically dropping since March, 2010.  Currently it indicates about 23 months of inventory.  This time it is a result of strong sales.  Inventories are down slightly, but sales are steady v last year.  For August, 2009, there were 27 sales.  While 23 months of inventory isn’t anything to bank on, at least it is dropping.

Here is a real anomaly.  In the $600,000 to $800,000 strata, the Absorption Rate indicates only 10 months of inventory.  That rate has been dropping since February.  In fact, in February there was a 38 month inventory of properties.  For August, there were 97 listings in this price range.  There were 7 sales… up from 6 in August, 2009.  Honestly, I was really surprised to see these numbers at this level…

As we move up to the $800,000 to $1,000,000 price level of Gwinnett County, GA, homes for sale, we see that there were 54 active listings and 3 sales for August, 2010.  This has an indicated Absorption Rate of 45 months of inventory.  Because the sales at this price level are less consistent than at lower levels, the rate bounces around a lot.  Sales may be rebounding here, though.

On the top level, Over $1,000,000, there were 108 listings and 5 sales for August, 2010.  Here we have seen the Absorption Rate on the increase, despite the inventory dropping.  For August there was about 25 months of inventory.  Sales are down significantly from last year.  Since this is a very wide range (prices from $1,000,000 to over $10,000,000), there are more listings and sales than the next level down.  Also, the homes are generally harder to compare because this realm is populated with custom homes and “one-offs”.

I’m looking forward to seeing the sales data for September soon.

Related articles
Enhanced by Zemanta

Buford, GA, Market Report, August 2010

Saturday, 09 October 2010 08:51
Written by
0 Comments
DSCN0583
Image by lane.bailey via Flickr

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).

Market stats for Buford, GA, August, 2010 indicate that there were 653 properties on the market. Overall, there was about an 12.3 month supply of properties.  Sales were down radically in July (19 v 71 for 2009), but August was back in the realm (57 v 61 for 2009).  But the magic has been a little underwhelming since June.

In the sub-$200k arena, there were 323 listings, with a 10.2 month supply.  Sales for July were down by 70%.  There was actually one extra sale for August.  May was the best absorption rate of the year, and it has been going downhill ever since.

Between $200k and $400k, there were 250 listings for sale, and about  13.4 months of supply.  Again, July was the dog, with sales down by 75%.  August was also slightly down.  This is one of the weakest segments in the county (excluding the very high end of the market…).

From $400k to $600k, there were 49 homes on the market. The absorption rate is around 21 months.  This shouldn’t be acting like a high-end luxury segment, but it is.  There have been 7 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.

In the $600k to $800k arena, there were 11 listings.  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 to11 homes have made things look less slow… but there has been 1 sale in this segment since November.

The range from $800k to $1m, there were 6 homes listed. And with only 2 sales in the last year (Nov. 09 and Feb 10), obviously  trends are hardly definable.

Above $1m, there were 14 properties listed.  The last sale in the segment was in April… of 2009.

I have a page dedicated to Buford Market Data.

Related articles
Enhanced by Zemanta

Sugar Hill, GA, Market Report, August 2010

Friday, 08 October 2010 08:39
Written by
0 Comments
This map shows the incorporated and unincorpor...
Image via Wikipedia

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.

Market stats for Sugar Hill, GA , March, 2010 indicate that there are 228 properties on the market. Overall, there is about an 9.7 month supply of properties, with sales dropping precipitously since June (31 in June, 15 in August).  Meanwhile, inventories are on the way up.

In the sub-$200k arena, there are 150 listings, with under 9.6 months supply.  Sales are also about half of what they were in June, and only ¾ of the level last August.

Between $200k and $400k, there are 69 listings for sale, and about 11.5 months of supply.  As recently as May, there was only a 6.75 month supply.  Sales are only 30% of the May level, and inventories are up slightly.

From $400k to $600k, there are 3 homes on the market. The absorption rate is around 8 months, but with no sales in the last 3 months, it is tough to calculate accurately.  Obviously, a sale or two could make a BIG difference.  There have only been 2 sales in this segment this year.

Above $600k, the sales are too inconsistent to have a solid read on, but there are only 6 homes listed for sale in that price range.  No sales have been recorded in the last 17 months or so.


I have a page dedicated to Sugar Hill Market Data.

Related articles by Zemanta
Enhanced by Zemanta
Copyright © 2009 - 2019 Garage with a Detached Home | Gwinnett County GA. All Rights Reserved. Created by Blog Copyright.