Tag Archives: news

Norcross, GA, Market Report, June 2011

Monday, 08 August 2011 08:00

Written by Lane Bailey

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Image by lane.bailey via Flickr

Market stats for Norcross GA, June, 2011 indicate that there were 360 properties on the market (385 for May). Overall, there is about a 5.8 month supply of properties (7.2 months last month). This year has been very strong so far… although it has slowed the last two months… it hasn’t slowed much. June saw 85 sales, WAY above the 52 for May and the 62 for last June, and with the decrease in listing inventory the Absorption Rate (AR) built more strength. This is one of the few market areas in Gwinnett to post five strong months in a row.

In the sub-$200k arena, there were 208 listings (225 last month), with about 4.1 month supply (5.4 for May). Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (68 v 38). For the last three months, the AR has been tilted in favor of sellers… it got a little more so, this month. This looks like the strongest price/area segment in Gwinnett County, GA.

Between $200k and $400k, there were 152 listings for sale (120 in May), and about 18.2 months of supply (last month it was 18.0). As strong as the under $200k segment is… this one is weak. The 15 sales were a drop from last year’s 18 sales, but a good bump from last month’s 7 sales. Of course, this segment has always seemed to lag.

From $400k to $600k, there were 44 homes on the market (34 last month). The absorption rate is around 16.5 months (8.5 in May). The Absorption Rate has been dropped for 5 months, then shot WAY up this month. June’s 1 sale is down from 5 the month before and last year’s 4 sales… and the inventory increase didn’t really help.

In the $600k to $800k arena, there were 8 listing on the market (1 last month). Inventories had decreased as sales have increased compared to last year. The absorption rate is at 12 months of inventory (1.5 last month, but only 1 listing)… but with only 4 sales last year and then the sale in March and another each in May and June, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate last month was that there was only 1 listing.

The range from $800k to $1m, there was 1 homes 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. The single sale in January (first since October) has pushed the Absorption Rate down to 24 months of inventory.

Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, 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.

Norcross, GA, Market Report, May 2011 (lanebailey.com)
Norcross, GA, Market Report, April 2011 (lanebailey.com)
Norcross, GA, Market Report, March 2011 (lanebailey.com)
Norcross, GA, Market Report, February 2011 (lanebailey.com)
Norcross, GA, Market Report, January 2011 (lanebailey.com)
Norcross, GA, Market Report, December 2010 (lanebailey.com)
Norcross, GA, Market Report, November 2010 (lanebailey.com)
Norcross, GA, Market Report, October 2010 (lanebailey.com)
Norcross, GA, Market Report, September 2010 (lanebailey.com)

Buford, GA, Market Report, June 2011

Friday, 05 August 2011 08:00

Written by Lane Bailey

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Image by lane.bailey via Flickr

Market stats for Buford, GA, June, 2011 indicate that there were 603 properties on the market (584 last month). Overall, there was about an 7.4 month supply of properties (8.3 last month). There were 97 sales for April, up slightly from 75 last month and 83 from last June (2010).

In the sub-$200k arena, there were 312 listings (313 last month), with a 5.4 month supply (6.1 for May). This is the largest price segment in this market area, so strength here usually equals strength across the whole local market area. Sales were up from last month (67 v 54), and quite strong compared to last year (48 sales in June, 2010). Framed in the results for the whole market area, the segment is quite strong.

Between $200k and $400k, there were 224 listings for sale (213 for May), and about 10.5 months of supply (12.1 last month). The 25 sales recorded were significantly above the 17 from last month, but well down from the 32 sales last year for June. It is a mid-pack price/area segment in Gwinnett County, GA. Of course, if there were another big bump next month…

From $400k to $600k, there were 41 homes on the market (36 last month). The absorption rate is almost 24.6 Months (54 last month). This shouldn’t be acting like a high-end luxury segment, but it is. There has been 5 sales in the last 3 months (3 sales for June, 2 for May). 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 has been weak.

In the $600k to $800k arena, there were 5 listings (4 listings in May). Absorption Rate is 15 months (6 months measured last month)… 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 4 homes has made things look less slow… but there have been 5 sales in this segment in the last year… the last was last month.

The range from $800k to $1m, there were 11 homes listed (up 4 from May). 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 10 properties listed (down 1 from May). The last sale in the segment was in April… of 2009…and then there was May… and 2 sales in June. FINALLY, new sales!

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.

Buford, GA, Market Report, May 2011 (lanebailey.com)
Buford, GA, Market Report, April 2011 (lanebailey.com)
Buford, GA, Market Report, March 2011 (lanebailey.com)
Buford, GA, Market Report, February 2011 (lanebailey.com)
Buford, GA, Market Report, January 2011 (lanebailey.com)
Buford, GA, Market Report, December 2010 (lanebailey.com)
Buford, GA, Market Report, November 2010 (lanebailey.com)
Buford, GA, Market Report, October 2010 (lanebailey.com)
Buford, GA, Market Report, September 2010 (lanebailey.com)

Sugar Hill, GA, Market Report, June 2011

Monday, 01 August 2011 08:00

Written by Lane Bailey

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Image by lane.bailey via Flickr

Market stats for Sugar Hill, GA , June, 2011, indicate that there are 217 properties on the market (238 in May). Overall, there is about an 8.5 month supply of properties (9.9 last month). There were 38 sales, compared to 45 last month and 31 last June. The Absorption Rate (AR) dropped, but that is largely due to a weak month dropping off… and a reasonably strong month of sales for June. Unless we drive off a cliff, next months AR should look fairly good, too.

For Sugar Hill homes priced under $200k, there are 148 listings (164 for May), with under 5.1 month supply (6.9 last month). There were 32 sales this June, 23 last year for the same time. Inventories have been rising fluid, rising and falling (down 3 months in a row, though). Normally, this time of year we see inventories ramping up.

Sugar Hill Listings between $200k and $400k, there are 60 listings for sale (64 last month), and about 18 months of supply (12.8 in May). This segment really took a beating. Last June there were 8 sales, this year there were 3. Last month had 4. This is one of the weakest segments in the county.

For listings in the $400k to $600k range, there are 6 homes on the market (same as last month). The absorption rate is 6 months (72 months in May). Obviously, a sale or two could make a BIG difference. There were only 3 sales in this segment last year. In 2009, there were almost twice as many sales in this price range. There were 3 sales in June… as many as all of last year. Any more sales and this will be the best in years at this level. Still not great, though.

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 3 homes listed for sale in that price range (there were 4 last month). 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.

Sugar Hill, GA, Market Report, May 2011 (lanebailey.com)
Sugar Hill, GA, Market Report, April 2011 (lanebailey.com)
Sugar Hill, GA, Market Report, March 2011 (lanebailey.com)
Sugar Hill, GA, Market Report, February 2011 (lanebailey.com)
Sugar Hill, GA, Market Report, January 2011 (lanebailey.com)
Sugar Hill, GA, Market Report, December 2010 (lanebailey.com)
Sugar Hill, GA, Market Report, November 2010 (lanebailey.com)
Sugar Hill, GA, Market Report, October 2010 (lanebailey.com)

Cha cha cha Changes…

Sunday, 31 July 2011 08:00

Written by Lane Bailey

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Turn the beat around… Changes.

No, I’m not stopping this blog, but it will re-gain its real estate and garage focus. For the last 4 years, I have been churning this blog out almost every day. But around a third of my posts have been about cars. (I really like cars…).

But this is supposed to be a real estate blog. I have a lot of ideas to make it a better real estate blog. But the cars I going to get parked in a new garage.

CoolCaroftheDay.com

That will be the place where I write about cars. This will be the place where I write about real estate, the real estate market and garages.

I have some great garage posts and posts about things that sellers can do to give their homes better curb appeal. I also will be bringing in occasional guest writers to talk about specific things like mortgages, home inspection or other disciplines related to buying or selling real estate.

At the same time, while I get the new site launched and rolling, this one will drop down to 3-4 updates each week, rather than the 5-6 updates a week of the last few months.

I hope you remain a reader, and I also hope you join me over at Cool Car of the Day.

Suwanee, GA, Market Report, June 2011

Friday, 29 July 2011 08:00

Written by Lane Bailey

0 Comments

Image by lane.bailey via Flickr

Market stats for Suwanee, GA, June, 2011 indicate that there are 629 properties on the market (down from 640 last month). Overall, there is about an 8.4 month supply of properties (down from 8.9 last month). May sales were up (88), but June reversed the trend with just 63 sales. Compared to 2010 (88), that was very weak. Inventory was down slightly compared to 2010 (652).

In the Under $200k arena, there are 183 listings in Suwanee, GA, with about a 5.6 month supply (184 and 6.5, respectively last month). Last June, there was a 4.8 month supply. This June’s sales were OK, at 33 (29 last month). April was VERY strong (37) and last June there were 28. This is definitely the strongest price segment in Duluth, but not that strong compared to some other areas of the county.

Between $200k and $400k, there are 300 listings for sale (310 last month), and 9.3 months of supply (May was 9.0). Sales in June, 2011 were 22 (45 in May), compared with 46 for the same period in 2010. Pretty weak, but even with the decrease in listings, the Absorption Rate (AR) got worse, reversing its trend of the last few months. So far this year, only February and May posted better sales than 2010. This segment was MUCH stronger last month.

From $400k to $600k, there are 78 homes on the market (87 last month). The absorption rate is at 14.6 months (14.5 in May). There were 3 sales in June (10 in May)… down from 11 last June. Even looking at the three month average, there were 16 sales this year and 28 for the same period last year. The only good part is that listings are down slightly, and would normally be flat of slightly rising at this time of the year.

In the $600k to $800k arena, there are 30 listings (25 last month), with about a 12.9 month supply (15.0 in May). Sales at this level are not consistent, but there were 3 this month (2 last month). Looking at one month makes the numbers jump. For the last three months, sales were 7… For the same time last year, the sales were 12. The segment is weak, but we can’t call a trend… three months ago it was looking stronger and it looks a little stronger again… at least stronger than it was.

The range from $800k to $1m, there are 11 homes listed and 33 months 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) and one for April this year. 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 13.5 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 (4 sales in Mar-May this year and 6 last year). But, in this segment, we should be seeing reduced inventories… There were 33 homes listed in this segment at this time last year. There were 2 sales for June.

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.

Suwanee, GA, Market Report, May 2011 (lanebailey.com)
Suwanee, GA, Market Report, April 2011 (lanebailey.com)
Suwanee, GA, Market Report, March 2011 (lanebailey.com)
Suwanee, GA, Market Report, February 2011 (lanebailey.com)
Suwanee, GA, Market Report, January 2011 (lanebailey.com)
Suwanee, GA, Market Report, December 2010 (lanebailey.com)
Suwanee, GA, Market Report, November 2010 (lanebailey.com)
Suwanee, GA, Market Report, October 2010 (gwinnettgarageguy.com)
Suwanee, GA, Market Report, September 2010 (lanebailey.com)

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