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Sugar Hill, GA, Market Report, September 2013

Monday, 21 October 2013 10:30
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Market stats for Sugar Hill, GA , September, 2013 indicates that there were 101 homes on the market, down 9 from last month. Overall, there is about an 2.9 month supply (3.0 last month). There were 29 sales, compared to 36 last month and 31 last September. Of course, then there were 139 listings on the market.

English: An ornamental iron fence built for th...

English: An ornamental iron fence built for the City of Sugar Hill, GA. (Photo credit: Wikipedia)

For Sugar Hill homes priced under $200k, there were 45 listings, with about 2.2 months supply. There were 17 sales this September, below last year for the same time (24). There were 26 sales last month. Inventories have been fluid, rising and falling. This time of year we often see a decrease in listings… and we are already very low. In fact, sales may be stifled by lack of inventory. Things have been a little choppy, though… up one month, down the next, then back up.

Sugar Hill Listings between $200k and $400k, there are 45 listings for sale, and about 3.5 months of supply. Last September there was a 5.1 month supply. There were 7 sales then, this year there were 12. Last month had 9 sales. We are still in Seller’s Market territory. Of note, from May, 2012, to June, 2012, the Absorption Rate dropped from 10.5 months of inventory to 5.4. It had spent almost a year above 10… and now has spent over a year below 10.

For listings in the $400k to $600k range, there were 8 homes on the market. The absorption rate was around 12 months, but with 0 sales this month, it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. I’ve finally started to see some consistency here. Hopefully we’ll have a little more action during the rest of the active selling season.

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 were 3 homes listed for sale in these price ranges. 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.

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Suwanee, GA, Market Report, September, 2013

Friday, 18 October 2013 09:10
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Market stats for Suwanee, GA, September, 2013 indicate that there were 310 properties on the market (down from 314 last month). Overall, there was about a 2.9 month supply of properties (up from 2.7 last month). September had 88 sales. Compared to Sept, 2012 (78), this year was a little up, but inventory was down compared to 2012 (384). There were 108 sales last month, so this month was also lower.  This is traditionally when things start slowing down… kids are going back to school and parents avoid buying and moving their kids… but then the relocations pick up a bit in the last quarter.

English: This is a picture of the front entran...

English: This is a picture of the front entrance of Lambert High School in Suwanee, Forsyth County, Georgia. (Photo credit: Wikipedia)

In the Under $200k arena, there were 47 listings in Suwanee, GA, with about a 2.4 month supply (compared to 3.1 months supply last year). This September’s sales were 16 (32 last year, 16 last month). It used to be a county leader, though, for now it is moving back to one of the best price/locale segments again. The next level up is coming up fast, though. Last year at this time, there were 107 listings. Sales are being killed by last year’s, but the way the inventory has dropped, there is a pretty good chance that the low inventory is constricting sales.

Between $200k and $400k, there were 147 listings for sale (168 last year, 159 last month), and 2.2 months of supply. Sales in September, 2013 were 56 (70 in August), compared with 38 for the same period in 2012. Sales have rocked for the last few 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. Make no mistake, this is still way in Seller’s Market territory. This is one of a very few areas where the $200k-$400k segment is ahead of the under $200k segment.

From $400k to $600k, there were 59 homes on the market. The absorption rate was at 3.9 months (3.2 in August). There were 12 sales in September (17 last month)… up from 6 last year at this time. Looking at the three month average, there were 46 sales this year and 25 for the same period last year. This segment had become dramatically stronger in the last couple of months.

In the $600k to $800k arena, there are 30 listings, with about a 10 month supply. Sales at this level are not consistent, but there were 2 sales this month (4 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 9… For the same time last year, the sales were 8. 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. The drop in sales this month from last month put a crimp on the A/R, though.

The range from $800k to $1m, there are 8 homes listed and 24 months of inventory on the market. There were only 4 sales at this price level in 2011. There were 7 in 2012. 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 more sales activity. There was 1 sale in March and 1 sale in September. Such a difference between this segment and the one below.

In Suwanee, GA, Above $1m, there are 19 properties listed. The current absorption rate indicated about 28.5 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales. In this segment, we should be seeing reduced inventories… There were 22 homes listed in this segment at this time last year. There was 1 sale in September.

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.

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Best Time to Move With Kids

Wednesday, 09 October 2013 10:10
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It is never easy for kids to move… at least it isn’t after about the time they start walking… but we don’t have to make it tougher.
Of course, as with many things in life, there are two distinct schools of thought…

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Lilburn, GA Market Report, August, 2013

Friday, 04 October 2013 09:29
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Market stats for Lilburn, GA, August, 2013, indicate that there were 199 properties on the market, down 10 from last month. Overall, there was about an 3.5 month supply of properties and 59 properties that closed (sold) in August. It was a decrease from last year’s sales (64) and a huge drop compared to July’s (71 sales). The Absorption Rate notched down slightly. Lilburn had been among the weakest of Gwinnett County, GA, cities I track. But, at 3.45 months of inventory, it is fairly strong now. Six months is considered balanced, lower is a seller’s market and higher is a buyer’s market.

BAPS Swaminarayan Mandir Lilburn, Atlanta, Ame...

BAPS Swaminarayan Mandir Lilburn, Atlanta, America’s costliest Hindu Temple, made completely out of White marble. (Photo credit: Wikipedia)

In the sub-$200k arena, there were 118 listings, with about an 3.0 month supply with 38 sales. This represents most of the sales in the market area. Sales were way down from last month (48), and down from last year (55). While the Absorption Rate isn’t as low as many other areas, sales are strong, and I’m think we are in a comeback for Lilburn.

Between $200k and $400k, there are 69 listings for sale, and about 4.4 months of supply. This segment had been quite weak for months, and had stalled a little, but came back with a vengeance… only to stall a bit again. There were 17 sales compared to 19 last month and 7 last year. Lilburn has never been seen as a luxury market. The decrease in listings had really helped, but they have started to rise again. I’m still not as confident about this portion of the Lilburn market coming back quite yet… It is strengthening, just not as consistently as I’d like… We are barely back in Seller’s Market territory.

From $400k to $600k, there are just 10 homes on the market. The absorption rate is 3.8 months. There was 4 sales in August. Poised for a comeback, but an increase in listings and weak sales don’t give the right ingredients for that to happen. To start with, we can’t have 7 month blank spots in sales (none from Aug11 through Mar12). If we can keep up a sale each month on average, this one will be back. We have a good start… and seeing the A/R drop from 3 YEARS to under 4 months in just two months is pretty nice.

From $600k to $800k, $800k to $1M and Above $1M, there is 2 listings (combined), but too few sales to have any sort of reliable number of months of inventory. The listing between $800k and $1M, and there is no market activity in the last 12 months for any of 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 in 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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Norcross, GA, Market Report, August 2013

Monday, 30 September 2013 08:49
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Market stats for Norcross GA, August, 2013 indicate that there were 131 properties on the market, down 28 from last month. Overall, there is about a 3.0 month supply of properties. The last year has been fairly strong… it hasn’t slowed much, if at all. August saw 44 sales, up from the 38 last month and compared to the 55 for July last year.

6774613538_9023a107b2_mIn the sub-$200k arena, there were 65 listings, with about 3.1 month supply. Sales are up from last month (14) and way down from a year ago in this segment, which is the main driver of sales in this area (25 v 41 – Aug13 v Aug12). For the last two years, the AR has been tilted in favor of sellers.

Between $200k and $400k, there were 52 listings for sale, and about 2.9 months of supply. This segment had been weakening for the last few months, but got radically stronger this month. The 15 sales were up from last year’s 14 sales, and down from last month’s 19 sales. Even though it isn’t as gangbusters as some of the other areas, it is certainly better than the 28 months of inventory we had in December, 2010. I think this is starting to look like a pretty settled market here…

From $400k to $600k, there were 12 homes on the market. The Absorption Rate is around 3.3 months. The AR last year had been fairly steady all summer, then shot WAY up in September/October. August’s 3 sales were down from the 5 last month and from last year’s 0 sales. This has actually been a pretty good area for homes in this price range to sell… for the last few months.

In the $600k to $800k arena, there was 1 listing on the market. The Absorption Rate is at 3 months of inventory… but with only 4 sales in 2010 and 4 sales in 2011, 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 was 0 sales for Aug13, 0 for Jul13 and 0 for Aug12.

The range from $800k to $1m, there were 0 homes listed on the market and 1 sale in Aug. There were no sales last year. Unfortunately there isn’t enough data for a good A/R number.

Above $1m, there was 1 property 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.

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