Tag Archives: suwanee

Suwanee, GA, Market Report, August, 2013

Wednesday, 18 September 2013 09:28

Written by Lane Bailey

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Market stats for Suwanee, GA, August, 2013 indicate that there were 314 properties on the market (down from 340 last month). Overall, there was about a 2.7 month supply of properties (down from 2.8 last month). August had 108 sales. Compared to August, 2012 (111), this year was a little down, but inventory was down compared to 2012 (406). There were 124 sales last month, so this month was also lower. The machine has really cranked up over the last three months, and Suwanee seems to be bucking the current Gwinnett county trend which is still good, but slowing.

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 49 listings in Suwanee, GA, with about a 2.3 month supply (compared to 2.4 months supply last year). This August’s sales were 16 (37 last year, 26 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 100 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 159 listings for sale (192 last year, 174 last month), and 2.2 months of supply. Sales in August, 2013 were 70 (78 in July), compared with 61 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 55 homes on the market. The absorption rate was at 3.2 months (3.5 in July). There were 17 sales in August (17 last month)… up from 9 last year at this time. Looking at the three month average, there were 51 sales this year and 28 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 24 listings, with about a 5.1 month supply. Sales at this level are not consistent, but there were 4 sales this month (3 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 14… For the same time last year, the sales were 13. 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. It is fairly strong right now… we’ll have to see if it holds.

The range from $800k to $1m, there are 9 homes listed and 54 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. Such a difference between this segment and the one below.

In Suwanee, GA, Above $1m, there are 18 properties listed. The current absorption rate indicated about 27 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 24 homes listed in this segment at this time last year. There was 1 sale in August.

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.

Suwanee, GA, Market Report, July, 2013

Monday, 19 August 2013 09:31

Written by Lane Bailey

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Market stats for Suwanee, GA, July, 2013 indicate that there were 340 properties on the market (down from 357 last month). Overall, there was about a 2.8 month supply of properties (down from 3.3 last month). July had 124 sales. Compared to July, 2012 (99), this year was WAY up, but inventory was down compared to 2012 (439). There were 119 sales last month, so this month was up ever so slightly. The machine has really cranked up over the last three months.

In the Under $200k arena, there were 54 listings in Suwanee, GA, with about a 2.4 month supply (compared to 3.5 months supply last year). This July’s sales were 26 (34 last year, 21 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 129 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 174 listings for sale (191 last year, 190 last month), and 2.4 months of supply. Sales in July, 2013 were 78 (73 in June), compared with 48 for the same period in 2012. Sales have rocked for the last few months. I’d like to see it stay up past 50 sales or so for the next couple of 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 basically 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 60 homes on the market. The absorption rate was at 3.5 months (4.1 in June). There were 17 sales in July (17 last month)… up from 10 last year at this time. Looking at the three month average, there were 51 sales this year and 30 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 24 listings, with about a 4.0 month supply. Sales at this level are not consistent, but there were 3 sales this month (7 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 18… For the same time last year, the sales were 15. 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. It is fairly strong right now… we’ll have to see if it holds.

The range from $800k to $1m, there are 10 homes listed and 60 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.

In Suwanee, GA, Above $1m, there are 17 properties listed. The current absorption rate indicated about 17 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 26 homes listed in this segment at this time last year. There was 1 sale in June.

Atlanta Metro Zillow Home Value Index

Atlanta Metro Home Values – Interactive chart

State of the Market for the North Gwinnett HS Area

Wednesday, 07 August 2013 10:04

Written by Lane Bailey

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Real estate is local… and one of the biggest influences in real estate is the local schools. Great schools spur demand. Mediocre schools lag. People actively seek a way out of bad school districts. It isn’t the only thing that pushes value and demand, but it certainly is one of the big drivers.

Transportation, jobs and local amenities are also drivers. Depending on the type of buyers, things like hospitals may pull one demographic, while shopping and restaurants may pull in another.

In the case of the schools in the NGHS cluster (Roberts, Suwanee, Level Creek and Riverside Elementary; North Gwinnett Middle School and North Gwinnett High School), there is a draw from the quality of the schools. People WANT to be in this area to have access to these schools.

Because of that, we are seeing prices push up and inventories push down. In fact, when looking at the sales, the recent decreases look to be largely because there simply isn’t enough inventory to support more sales. So, while at first glance it may look like this area is slowing down, the problem is that there just isn’t any supply to allow a higher number of sales. The North Gwinnett Cluster consists of parts of Suwanee and a little bit of Sugar Hill.

Since schools are one of the big drivers of demand, MANY consumers search for real estate based on schools. Unfortunately, there are a lot of homes that are incorrectly entered, causing homes that are NOT in the cluster to land in the search results… and even throwing off the statistics, as homes outside of the correct area are included in statistical samples.

Working with an agent that lives and works in the area you are interested in helps to sort out some of the chaff… but even then I see a lot of agents that have been in the market area a long time kind of “forget” that several new schools opened 3 years ago… and that the alignment and attendance zones changed. One easy way to tell… any listing with North Gwinnett High School and Lanier Middle School together is wrong…

If you are interested in a home in the North Gwinnett Cluster, or if you want to sell your home in the North Gwinnett Cluster, give Lane a call…

Suwanee, GA, Market Report, June, 2013

Monday, 22 July 2013 08:22

Written by Lane Bailey

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Market stats for Suwanee, GA, June, 2013 indicate that there were 3507 properties on the market (up from 350 last month). Overall, there was about a 3.3 month supply of properties (down from 3.8 last month). June had 119 sales. Compared to June, 2012 (93), this year was WAY up, but inventory was down compared to 2012 (455). There were 118 sales last month, so this month was up ever so slightly. The machine has really cranked up over the last couple of months.

In the Under $200k arena, there were 51 listings in Suwanee, GA, with about a 2.3 month supply (compared to 2.3 months supply last year). This June’s sales were 21 (36 last year, 21 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 116 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 190 listings for sale (191 last year, 194 last month), and 2.9 months of supply. Sales in June, 2013 were 73 (71 in May), compared with 42 for the same period in 2012. Sales have rocked for the last few months. I’d like to see it stay up past 50 sales or so for the next couple of 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 basically in Seller’s Market territory.

From $400k to $600k, there were 62 homes on the market. The absorption rate was at 4.1 months (4.9 in May). There were 17 sales in June (17 last month)… up from 9 last year at this time. Looking at the three month average, there were 45 sales this year and 30 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 25 listings, with about a 4.4 month supply. Sales at this level are not consistent, but there were 7 sales this month (8 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 17… For the same time last year, the sales were 9. 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. It is fairly strong right now… we’ll have to see if it holds.

The range from $800k to $1m, there are 12 homes listed and 72 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.

In Suwanee, GA, Above $1m, there are 17 properties listed. The current absorption rate indicated about 17 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 25 homes listed in this segment at this time last year. There was 1 sale in June, but 3 in the Apr-Jun time frame, 2 the year before.

Atlanta Metro Zillow Home Value Index

Atlanta Metro Home Values – Interactive chart

Suwanee, GA, Market Report, May, 2013

Monday, 17 June 2013 08:53

Written by Lane Bailey

0 Comments

Market stats for Suwanee, GA, May, 2013 indicate that there were 350 properties on the market (down from 353 last month). Overall, there was about a 3.8 month supply of properties (down from 4.8 last month). May had 118 sales. Compared to May, 2012 (99), this year was WAY up, but inventory was down compared to 2012 (439). There were 92 sales last month, so this month rocked last. The machine has really cranked up over the last couple of months.

In the Under $200k arena, there were 47 listings in Suwanee, GA, with about a 2.3 month supply (compared to 2.6 months supply last year). This May’s sales were 21 (42 last year, 24 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 118 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 194 listings for sale (220 last year, 184 last month), and 3.6 months of supply. Sales in May, 2013 were 71 (54 in April), compared with 43 for the same period in 2012. Sales have rocked for the last few months. I’d like to see it stay up past 50 sales or so for the next couple of 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 basically in Seller’s Market territory.

From $400k to $600k, there were 56 homes on the market. The absorption rate was at 4.9 months (8.5 in April). There were 17 sales in May (11 last month)… up from 11 last year at this time. Looking at the three month average, there were 34 sales this year and 31 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 26 listings, with about a 6.0 month supply. Sales at this level are not consistent, but there were 8 sales this month (2 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 13… For the same time last year, the sales were 6. 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. It is fairly strong right now… we’ll have to see if it holds.

The range from $800k to $1m, there are 10 homes listed and 30 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.

In Suwanee, GA, Above $1m, there are 17 properties listed. The current absorption rate indicated about 17 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 25 homes listed in this segment at this time last year. There was 1 sale in May, but 3 in the Mar-May time frame, 4 the year before.