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 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.