Not Found norcross | Garage with a Detached Home | Gwinnett County GA

LaneBailey.com

Garage with a Detached Home

Contact Lane

  • 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

  • Custom Listings

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

    Read More
  • 1

Follow Me on Pinterest

Tag Archives: norcross

The Gwinnett County Market is a Little Weird Right Now…

Thursday, 09 June 2011 08:46
Written by
0 Comments
DSCN0561
Image by lane.bailey via Flickr

I have been pulling Gwinnett County Real Estate Market Data, and I’m not done with it yet.  But, I have been seeing a few things.

  • Listings are down markedly from where they would normally be.  This can be either a positive or negative, depending on your outlook.
    • On the Plus Side, fewer listings means that Absorption Rates are better.  There is less inventory to get sold… it tilts the table back toward sellers.  It has been largely tilted toward buyers for quite a while.
    • On the Minus Side, it shows that there is pessimism in the market on the side of sellers.  They aren’t confident about the market.  That lack of confidence has carried over to buyers… sales are also slowing.
  • Sales are down… like I just mentioned.  Even though Absorption Rates make the market look better… the sales just aren’t there.
  • Results are mixed.  There are a few cities that are doing well… and there are a few price segments that are doing quite well.  Others are VERY weak.
Related articles
Enhanced by Zemanta

Norcross, GA, Market Report, April 2011

Tuesday, 07 June 2011 08:52
Written by
0 Comments
DSCN0584

Image by lane.bailey via Flickr

Market stats for Norcross GA, April, 2011 indicate that there were 384 properties on the market. Overall, there is about a 7.6 month supply of properties. January was a powerhouse…  February continued the trend, although not quite as powerful.  March was a breakout month.  April saw 49 sales, short of the 59 for March and short of the 52 for last April, but with the decrease in listing inventory the Absorption Rate (AR) still built strength.  This is one of the few market areas in Gwinnett to post four strong months in a row.

In the sub-$200k arena, there were 217 listings, with about 5.5 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (44 v 32).  Last month, the AR was in the range of balanced… it got a little better this month.  This looks like the strongest price/area segment in Gwinnett County, GA.

Between $200k and $400k, there were 130 listings for sale, and about 19.5 months of supply.  As strong as the under $200k segment is… this one is that weak.  The 3 sales were a considerable drop from last month’s 10 sales and last year’s 15 sales.  Of course, this segment has always seemed to lag.

From $400k to $600k, there were 32 homes on the market. The absorption rate is around 8.7 months.  The Absorption Rate has been dropping for 5 months.  This is odd considering the performance of the next segment down, but totally in line with the <$200k segment.  April’s 2 sales are down from 5 the month before, and doesn’t compare favorable to last year’s 4 sales… but the inventory decrease really helped.

In the $600k to $800k arena, there was 1 listing on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate is at 3 months of inventory… but with only 4 sales last year and then the sale in March, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there is only 1 listing.  Only.

The range from $800k to $1m, there was 1 homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 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 18 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.

Related articles
Enhanced by Zemanta

Wayback Wednesday… Still Bickering…

Wednesday, 18 May 2011 08:49
Written by
0 Comments
Gwinnett County Historic Courthouse, Lawrencev...

Image via Wikipedia

Last year I wrote about how Gwinnett County and 15 cities in the county were involved in a lawsuit.  At that time, they only had days to get things straightened out before there were serious issues with the “Qualified Status” of the local governments.

A year later and they are still bickering over it.

There are a few changes…  Some police departments were de-certified to use radar.  The Gwinnett County Sheriff’s Department stepped in and ran radar.  The lawsuits are continuing.  The County could go bankrupt if the cities win.  Residents in the cities could continue to face double charges for services provided by the cities.

This would be more fun if we could just break out the popcorn and watch without financial implications or worry about city and county service delivery.

For more…

Related articles
Enhanced by Zemanta

Norcross, GA, Market Report, March 2011

Thursday, 05 May 2011 08:35
Written by
0 Comments
This map shows the incorporated and unincorpor...

Image via Wikipedia

Market stats for Norcross GA, March, 2011 indicate that there were 399 properties on the market. Overall, there is about a 8.4 month supply of properties. January was a powerhouse…  February continued the trend, although not quite as powerful.  March was a breakout month (59 v 44 last year).  This is one of the few market areas in Gwinnett to post three strong months in a row.

In the sub-$200k arena, there were 235 listings, with about 6.6 month supply.  Sales are up sharply from a year ago in this segment, which is the main driver of sales in this area (43 v 31).  November and December were weak, but January, February and March have shown a powerful reversal in that trend.  And with an Absorption Rate in the mid-6 month range, this price/location segment is bordering on balanced.  It has been quite a while since I have been able to say that…

Between $200k and $400k, there were 118 listings for sale, and about 16.1 months of supply.  Sales had been down and slowing for the last few months, but lower inventory levels made things look better.  Sales bumped up well above last month… and almost to last year’s level, so despite the increase in listings, the Absorption Rate dropped.

From $400k to $600k, there were 41 homes on the market. The absorption rate is around 10.3 months.  Inventory has been rising for the last three months, as have sales (4 months for sales, actually).  And the Absorption Rate has been dropping for 4 months.  Still has a little way to go, but I love that it is getting stronger every month.

In the $600k to $800k arena, there were 2 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate is at 6 months of inventory… but with only 4 sales last year and then the sale in March, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there are only 2 listings.  Only.

The range from $800k to $1m, there were no homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 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 just 9 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.

Related articles
Enhanced by Zemanta

Norcross, GA, Market Report, February 2011

Thursday, 07 April 2011 22:17
Written by
0 Comments
Georgia state route marker. Signs use FHWA typ...

Image via Wikipedia

Market stats for Norcross GA, January, 2011 indicate that there were 382 properties on the market. Overall, there is about a 9.6 month supply of properties. January was a powerhouse… unlike most of the areas in Gwinnett, with 41 sales v just 29 last January.  February continued the trend, although not quite as powerful.  There were 43 sales in Norcross this year v 36 last February.

In the sub-$200k arena, there were 231 listings, with about 7.8 month supply.  Sales are up from a year ago in this segment, which is the main driver of sales in this area (32 v 23).  So, the segment is still looking pretty strong for January and February, despite the weakness of sales in November and December.

Between $200k and $400k, there were 108 listings for sale, and about 17.1 months of supply.  Sales have been down and slowing for the last few months, but lower inventory levels have really made things look better.  If it is all because of a hold on foreclosures from late last year, then we will see bloodshed again, otherwise, we could be seeing a recovery.

From $400k to $600k, there were 37 homes on the market. The absorption rate is around 11.1 months. Much of the perception of strong Absorption Rates is from shrinking inventories.  But, for the record, sales for January were at 3 for both 2011 and 0 for 2010 and February had an increase from 2 to 4 sales for this year.

In the $600k to $800k arena, there were 3 listings on the market.  Inventories have decreased as sales have increased compared to last year.  The absorption rate (12 month average) is at 9 months of inventory… but with only 4 sales last year, obviously it is easy to bump one way or the other. The ONLY reason for the strong looking Absorption Rate is that there are only 3 listings.  Only.

The range from $800k to $1m, there were no homes listed on the market and no sales… seemingly forever.

Above $1m, there were 3 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 just 9 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.

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