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Tag Archives: suwanee

How to Read a Market Report…

Monday, 10 October 2011 08:00
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A lot of real estate agents write them.  Some have a lot of information, others… not so much.  Some are well laid out and go past the numbers into interpretation.  Others have plenty of numbers, but they don’t even give any sort of scale to use for reference.

I try to give mine a sense of scale, as well as interpret what the numbers mean.  I also wait to post them… until the numbers are fairly solid (and even a few weeks later, the numbers might change a little bit…), but not so long as to make the report outdated as it is published.  Below is an excerpt from one of my market reports:

Market stats for Suwanee, GA, August, 2011 indicate that there are 593 properties on the market (down from 612 last month). Overall, there is about an 7.3 month supply of properties (down from 7.4 last month). August had 83 sales. Compared to 2010 (55), that was VERY strong. Inventory was down, as well, compared to 2010 (636).  The last two months have been very strong, but that comes on a very weak June and just average sales for a couple of prior months.  Obviously, I’d like to see continued strength here.

So, let’s break it down.

  • 593 Properties… also showing the number of properties on the market the previous month.  Is it going up or down?  Which way SHOULD it be moving?
  • 7.3 month supply…  This is the Absorption Rate.  Here is a whole post explaining absorption rates, what they are and what they mean.  Balanced, in most real estate segments, is about 6.  Higher is a buyer’s market, lower is a seller’s market.  I also generally show the level of the previous month.
  • 83 sales…  and to put it in perspective, we also want to know how many sales there were last month AND how many for the same month last year.  Sometimes, in slower segments, we might look at the last three months of sales (combined) and compare those with the previous year.  For low volume segments, that will be a number that doesn’t jump all over as much and will give a better idea of market direction and strength.
  • Interpretation & Prediction…  I try to do a little of this for most segments of the market.  I track 7 different postal cities (not the city limits, but the mailing addresses) and each in 6 different price ranges.  That makes for a LOT of predictions and interpretation…  But I try to give what I think of each one… assuming there is enough data to get an idea of what is going on.
  • Something graphical…  My newest tool is a graphical representation (from Zillow) showing a history of the region.  Even more than the pinpoint data of the report, the simple graph gives the aerial view of what is happening.  However, it needs to be kept in perspective…  The beginnings of trend are pretty hard to spot on a long-term graph.

Hopefully this will help you get the most from my market reports…

Atlanta Metro Zillow Home Value Index

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Suwanee, GA, Market Report, August 2011

Friday, 23 September 2011 08:00
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This map shows the incorporated and unincorpor...

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Market stats for Suwanee, GA, August, 2011 indicate that there are 593 properties on the market (down from 612 last month). Overall, there is about an 7.3 month supply of properties (down from 7.4 last month). August had 83 sales. Compared to 2010 (55), that was VERY strong. Inventory was down, as well, compared to 2010 (636).  The last two months have been very strong, but that comes on a very weak June and just average sales for a couple of prior months.  Obviously, I’d like to see continued strength here.

In the Under $200k arena, there are 183 listings in Suwanee, GA, with about a 5.7 month supply (151 and 7.3, respectively last year).  This August’s sales were OK, at 33 (just 15 last year).  This is definitely the strongest price segment in Duluth, but not that strong compared to some other areas of the county.  As recently as June 2010, the A/R was 4.8 months.  I’d like to see sales approaching 35 for the next couple of months to call this segment strong.

Between $200k and $400k, there are 292 listings for sale (362 last year), and 8.6 months of supply. Sales in August, 2011 were 32 (48 in July), compared with 28 for the same period in 2010.  Sales have been bouncing between very strong and average for the last few months.  I’d like to see some consistency around 35-40 sales for the next couple of months.  This shouldn’t be a “peaky” market/price  segment.

From $400k to $600k, there are 63 homes on the market. The absorption rate is at 6.5 months (14.5 in May). There were 15 sales in August (11 in July)… up from 12 last August.  Looking at the three month average, there were 29 sales this year and 31 for the same period last year.  This segment has gotten dramatically stronger in the last couple of months, but for the last few years has dropped off pretty heavily as school started.  I’d be quite happy with 10 sales over each of the next two months.

In the $600k to $800k arena, there are 19 listings, with about a 5.2 month supply.  Sales at this level are not consistent, but there were 3 this month (5 last month).  Looking at one month makes the numbers jump. For the last three months, sales were 11… For the same time last year, the sales were 12.  With the huge decrease in listings over the last couple of months, this has become the strongest $600k-$800k area in the county.  Over the next couple of months, look for 2-3 sales a month on average.

The range from $800k to $1m, there are 8 homes listed and 12 months of inventory on the market. There were only been 3 sales at this price level this year (1 in April, 2 in July).  This is a tough segment to try to sell in right now, but if inventory stays low, it won’t be quite as rough.

In Suwanee, GA, Above $1m, there are 28 properties listed (the only segment to increase listings). The current absorption rate indicated about 42 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 33 homes listed in this segment at this time last year. There were 2 sales for June, and none listed since.

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.

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Wayback Wednesday… Social Media Breakfast

Wednesday, 17 August 2011 08:00
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A little over 2 years ago, Mortgage Broker, Ken Cook and I started an event called Social Media Breakfast Atlanta (smbATL).  It was actually in July, 2009.  Ken was (and still is) the co-host of a show on Blog Talk Radio called Social Media Edge (it used to be called Twitter Tuesday).  And I had the idea that it would be fun to get together a with a bunch of local small business owners to talk about better ways to leverage social medias.

 

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When we started, Twitter was all the rage.  FaceBook Pages were brand new, and a lot of people hadn’t heard of them.  Google Buzz and Wave hadn’t been released yet.  And we hadn’t even had an inkling about Google+.  In the last two years, we’ve learned more about those platforms, as well as things like Posterous, Get Glue and a PILE of tools.

 

We have also split the events so that there is one in Cobb County and one in Gwinnett County each month.  Cobb’s event is generally the 3rd Thursday of the month and Gwinnett’s is the 4th Thursday.  In Cobb, the usually take off a couple of months in the summer… in Gwinnett, we take off for the Holidays.

 

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For August, we have a special guess at the Gwinnett County smbATL event.  Jennifer Jones of Anderson Jones PR will be talking about Social Media leveraging for small business.  She has case studies and all sorts of solid reasons that we (as small business owners or principals) should be involved with Social Media.  But, even better, she will be fun!

 

And, as usual, we will all get to socialize and meet some new folks.  That’s why Ken and I started this over two years ago… to meet some cool new folks and learn some cool new tips, technologies and techniques.  And we have.

 

You can check us out on FaceBook (1st link), and we’d love for you to join us on August 25th at the Atlanta Bread Company on Lawrenceville-Suwanee Rd and Satellite Blvd.  We’ll be meeting there from 9:00am until around 10:30am.

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Suwanee, GA, Market Report, June 2011

Friday, 29 July 2011 08:00
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DSCN0560

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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.

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Photo Friday… Garage Sale Time…

Friday, 01 July 2011 06:15
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Garage sale

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We all do it from time to time…  We get rid of stuff.  Some of it we might donate to a shelter or some worthy cause, other stuff might just find its way to the trash.  And then there is that stuff which finds its way into a garage sale (I like to call the “Neighborhood Junk Re-Allocation Events).

For us, it seems like it is about once every other year that we have a sale and then donate the remnants, alnog with a few choice things that we would rather donate than sell.

We did one just before we moved (about two months ago)… and after moving, and diving into boxes we had just plain forgotten about, we are doing it again.

Part of the reason is the large amount of stuff my mom asked me to get rid of… Coca-Cola collectibles as well as some sports memorabilia and some other odds and ends.

We’ll be having our sale on Friday and Saturday, July 1st and 2nd, 2011, at a friend’s house.  If you are in the Suwanee/Sugar Hill/Buford area, look for our signs near Buford Highway and Old Suwanee Rd.  We’ll be running the sale from around 8am until 2pm each day… or so.

[BTW, the picture is NOT our garage sale…)

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