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Tag Archives: suwanee

Suwanee, GA, Market Report, November 2010

Monday, 20 December 2010 08:18
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Market stats for Suwanee, GA, November, 2010 indicate that there are 582 properties on the market. Overall, there is about an 10.9 month supply of properties.  There was less that 8 months of inventory as recently as June.  Even though inventories are down since then, sales are also down.

In the Under $200k arena, there are 156 listings in Suwanee, GA, with about a 8.5 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… October sales were down from 27 last year to 22 this year.  For November, there were 15 sales this year and 21 last year.

Between $200k and $400k, there are 285 listings for sale, and 9.8 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.  For October, sales were down from 53 last year v 31 this year.  November continued the (poor) trend with 26 sales v 41 last year.

From $400k to $600k, there are 75 homes on the market. The absorption rate is at 18.7 months.  There were 4 sales this year… dwarfed by the 10 last year.  Even looking at the three month average, there were 12 sales this year and 26 for the same period last year.

Georgia state route marker. Signs use FHWA typ...
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In the $600k to $800k arena, there are 28 listings, with about a 42 month supply.  Sales at this level are not consistent.  Looking at one month makes the numbers jump.  For the last three months, sales were 2…  For the sale time last year, the sales were 9.

The range from $800k to $1m, there are 13 homes listed and approximately 4+ years of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

In Suwanee, GA, Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 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 Sept-Nov both this year and last).  But, in this segment, we should be seeing reduced inventories…  There were 45 homes listed in this segment at this time last year.

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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Suwanee, GA, Market Report, October 2010

Saturday, 27 November 2010 08:14
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Finder USA building in Suwanee, GA
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Market stats for Suwanee, GA, October, 2010 indicate that there are 5601 properties on the market. Overall, there is about an 10.7 month supply of properties.  There was less that 8 months of inventory as recently as June.  Even though inventories are down since then, sales are also down.

In the sub-$200k arena, there are 159 listings, with about a 8.7 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… although sales for July and August (19 and 15) were exactly the same last year and at 18, there was only one less sale in September v last year.  October sales were down from 27 last year to 22 this year.

Between $200k and $400k, there are 298 listings for sale, and 10 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.  For October, sales were down from 53 last year v 31 this year.

From $400k to $600k, there are 79 homes on the market. The absorption rate is at 13.9 months.  While 3 sales this year don’t compare favorably with the 7 sales last year, the three month average is reasonably close (17 v 20 in 2009).  There are fewer listings, though.

In the $600k to $800k arena, there are 26 listings, with about a 26 month supply.  We can look directly to a reduction in inventory for the drop in absorption rate from 45 months in February… sales are still slower than last year, and seem to be decelerating (3 this year from Aug-Oct v 10 last year).

The range from $800k to $1m, there are 13 homes listed and approximately 78 months of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

Above $1m, there are 26 properties listed. The current absorption rate indicated about 19.5 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 Aug-Oct both this year and last).  But, in this segment, we should be seeing reduced inventories…

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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Suwanee, GA, Market Report, September 2010

Tuesday, 02 November 2010 08:29
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Market stats for Suwanee, GA, August, 2010 indicate that there are 598 properties on the market. Overall, there is about an 10 month supply of properties.  There was less that 8 months of inventory as recently as June, but sales are slowing even faster than inventory is shrinking.

In the sub-$200k arena, there are 144 listings, with about a 8.3 month supply.  In June, there was a 4.8 month supply.  Inventories have increased, until September, as sales have slowed… although sales for July and August (19 and 15) were exactly the same last year and at 18, there was only one less sale in September v last year.

Between $200k and $400k, there are 311 listings for sale, and 10.7 months of supply.  Sales for September 2010 were 30 compared with 39 for the same period in 2009.  Still weak, but much better than last month.

From $400k to $600k, there are 79 homes on the market. The absorption rate is at 9.1 months.  While 5 sales this year don’t compare favorably with the 9 sales last year, the three month average is almost exactly the same (26 v 27).  There are fewer listings, though.

In the $600k to $800k arena, there are 26 listings, with about a 7.8 month supply.  We can look directly to a reduction in inventory for the drop in absorption rate from 45 months in February… sales are still slower than last year, and seem to be decelerating (1 this year v 4 last September).

The range from $800k to $1m, there are 13 homes listed and approximately 39 months of inventory on the market.  There has only been 3 sales at this price level this year (1 each in January, April and May).  Honestly, last year looked a little better, but not much.

Above $1m, there are 25 properties listed. The current absorption rate indicated about 18.8 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.  But, in this segment, we should be seeing reduced inventories…

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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Suwanee, GA, Market Report, August 2010

Thursday, 07 October 2010 08:09
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DSCN0579
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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.

Market stats for Suwanee, GA, August, 2010 indicate that there are 636 properties on the market. Overall, there is about an 9 month supply of properties.  There was less that 8 months of inventory as recently as June, but sales are slowing even faster than inventory is shrinking.

In the sub-$200k arena, there are 151 listings, with about a 7.3 month supply.  In June, there was a 4.8 month supply.  Inventories have increased as sales have slowed… although sales for July and August (19 and 15) were exactly the same last year.

Between $200k and $400k, there are 346 listings for sale, and 10.08 months of supply.  Sales for August 2010 were 28 compared with 48 for the same period in 2009.  Enough said.

From $400k to $600k, there are 79 homes on the market. The absorption rate is at 7.4 months.  While 9 sales this year compares favorable with the 4 sales last year, the three month average is exactly the same.  There are fewer listings, though.

In the $600k to $800k arena, there are 24 listings, with about a 6 month supply.  We can look directly to a reduction in inventory for the drop in absorption rate from 45 months in February… sales are still slower than last year, and seem to be decelerating.

The range from $800k to $1m, there are 23 homes listed and approximately 23 months of inventory on the market.  There has only been 3 sales at this price level this year.  Honestly, last year looked a little better, but not much.

Above $1m, there are 35 properties listed. The current absorption rate indicated about 21 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.  But, in this segment, we should be seeing reduced inventories…


I have a page dedicated to Suwanee Market Data.

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This is what I feared… Gwinnett Market Report – July, 2010

Tuesday, 17 August 2010 08:20
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I have been kind of expecting this, but of course it will take a couple of months to confirm…

The Tax Credit did not kick the Gwinnett Market into gear…

Instead, its expiration killed sales.  Looking over the last few months of sales we see that for 2010, sales were (compared to 2009):

  • January – down 10.9%
  • February – up 1.7%
  • March – up 10.1%
  • April – up 14.1%
  • May – up 17.3%
  • June – down 0.8%
  • July – down 26.2%

As we look over these numbers, there are a few things to keep in mind…  To start with, the July numbers will likely get a little better.  Although sales are supposed to be reported within 48 hours of closing, there are always stragglers that take a few weeks to make it into the reports.  Contracts had to be written by April 30th, and sales here usually only take 30-45 days to close.  That would be why sales were up in May, but not in June… those sales were likely closed.  I didn’t see a lot of buyers playing chicken with the contract dates.

All isn’t doom and gloom…  Inventories are down a bit from last year.  This is helping to keep the absorption rates at a reasonable level.  But they are still decelerating.

Look for specific reports over the next couple of weeks for Lilburn, Lawrenceville, Duluth, Suwanee, Sugar Hill, Buford and Norcross.

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