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Tag Archives: suwanee

Suwanee, GA, Market Report, January 2012

Friday, 10 February 2012 08:00
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Market stats for Suwanee, GA, January, 2012 indicate that there are 440 properties on the market (down from 468 last month).  Overall, there is about an 7.9 month supply of properties (up from 6.7 last month).  January had 40 sales. Compared to January, 2011 (35), this year was a stronger.  Inventory was down compared to 2011 (582).  The last six months have been very strong, but that comes on a very weak June and just average sales for a couple of prior months.  January was much weaker than December, but still much stronger than the previous year.  It will be interesting to see if the strength carries through next month.

In the Under $200k arena, there are 131 listings in Suwanee, GA, with about a 4.4 month supply (152 and 4.0, respectively last year).  This January’s sales were ok, at 17 (15 last year).  This is definitely the strongest price segment in Suwanee.  December’s sales were at 46, and while January was up against the previous year, it wasn’t looking so hot month to month.  We’ll have to see what February brings.

Between $200k and $400k, there are 201 listings for sale (249 last year), and 8.4 months of supply.  Sales in January, 2012 were 16 (21 in December), compared with 16 for the same period in 2011.  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.  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.  Could be getting better… but not the last few months.

From $400k to $600k, there are 60 homes on the market.  The absorption rate is at 12.0 months (9.8 in December).  There were 5 sales in January (6 in December)… up by 3 compared to last January.  Looking at the three month average, there were 15 sales this year and 10 for the same period last year.  This segment had gotten dramatically stronger in the last couple of months, but like the next lower price segment, dropped off heavily this month.  We should be looking at close to 12 sales for February… I was hoping (but not expecting) 10 for January.

In the $600k to $800k arena, there are 17 listings, with about a 51 month supply (same as last month).  Sales at this level are not consistent, but there were 0 this month (0 last month).  Looking at one month makes the numbers jump around.  For the last three months, sales were 0…  For the same time last year, the sales were 3.  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.  But until I see 2-3 sales a month on average, I can’t call this one strong.

The range from $800k to $1m, there are 6 homes listed and 18 months of inventory on the market. There were only 4 sales at this price level last year (1 in April, 2 in July and 1 in August) . 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 sales activity.

In Suwanee, GA, Above $1m, there are 25 properties listed. The current absorption rate indicated about 25 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales (only 1 sale for October, 0 for November, 1 for December and 2 for January). In this segment, we should be seeing reduced inventories… There were 24 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, December 2011

Monday, 16 January 2012 08:00
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Market stats for Suwanee, GA, December, 2011 indicate that there are 468 properties on the market (down from 502 last month).  Overall, there is about an 6.7 month supply of properties (down from 7.0 last month).  December had 74 sales.  Compared to 2010 (46), this year was a stronger.  Inventory was down compared to 2010 (548).  The last five months have been very strong, but that comes on a very weak June and just average sales for a couple of prior months.  December was much stronger than last year, and from November (53 sales).  Obviously, I like seeing continued strength here.

In the Under $200k arena, there are 152 listings in Suwanee, GA, with about a 4.0 month supply (161 and 5.0, respectively last year).  This December’s sales were solid, at 46 (just 13 last year).  This is definitely the strongest price segment in Suwanee.  I was looking for a solid follow-up to October’s 42 sales, but we didn’t get it in November.  Hopefully we’ll see a similar number of sales for January…

Between $200k and $400k, there are 209 listings for sale (249 last year), and 8.4 months of supply.  Sales in December, 2011 were 21 (31 in November), compared with 25 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.  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.  Could be getting better… but not this month.

From $400k to $600k, there are 59 homes on the market.  The absorption rate is at 9.8 months (10.1 in November).  There were 6 sales in December (4 in November)… up by 2 compared to last December.  Looking at the three month average, there were 18 sales this year and 11 for the same period last year.  This segment had gotten dramatically stronger in the last couple of months, but like the next lower price segment, dropped off heavily this month.  We should be looking at close to 10 sales for January… I was hoping (but not expecting) 10 for December.

In the $600k to $800k arena, there are 17 listings, with about a 51 month supply (12.8 last month).  Sales at this level are not consistent, but there were 0 this month (0 last month).  Looking at one month makes the numbers jump around.  For the last three months, sales were 1…  For the same time last year, the sales were 3.  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.  But until I see 2-3 sales a month on average, I can’t call this one strong.

The range from $800k to $1m, there are 5 homes listed and 15 months of inventory on the market.  There were only 4 sales at this price level this year (1 in April, 2 in July and 1 in August) .  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 sales activity.

In Suwanee, GA, Above $1m, there are 26 properties listed.  The current absorption rate indicated about 39 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales (only 1 sale for October, 0 for November and 1 for December).  In this segment, we should be seeing reduced inventories…  There were 24 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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Wayback Wednesday… How Were My Prognostications?

Wednesday, 04 January 2012 08:00
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Last year I wrote one of those “wonderful” annual prognostication posts with my guesses on what we would be looking at during the same time next year… and that would be now.

Gwinnett County, Georgia

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Here is a link to the old post.  I’ll have the quick version below, but if you want to see the context, knock yourself out…

  • I predict that next year there will STILL be people talking about the coming giant wave of Shadow Inventory.  Well, I have to say that I hit that one.  Inventories are dropping, but the general buzz in the biz is that there is a huge wave of “Shadow Inventory” just around the bend.  Of course, it has been there (just around the corner) for a few years now…
  • Interest Rates ARE going to rise.  They did… a little… but they are down.  I was wrong.
  • … there will be another wave of government intervention…  I hoped I would be wrong on this one, and I was.
  • The entry level market (under $200k) is well on the way to recovery… and that will continue.  I hit that one right.  The entry level market is pretty much rocking in Gwinnett County.
  • And I don’t think we will see a meaningful recovery in prices for the Luxury Market (above $600k).  Talk about a hurting market segment…  Unfortunately, I hit that one on the head.
  • The “Near Luxury” segment (from $200k-$600k) will be mixed.  That one is pretty close.  There are some markets that we are seeing a meaningful recovery for this price level… and other, not so much.  A few are just waffling.
  • I don’t see Unemployment going under 9% during 2011.  How do I rate this one?  Officially, I am wrong.  However, most of the improvement hasn’t been from job creation, but rather from people giving up.  The December numbers are supposed to be released later today…

I went 4 for 7… maybe 5 for 7, depending on how you want to score the last one.

 

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Suwanee, GA, Market Report, November 2011

Friday, 23 December 2011 08:00
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Market stats for Suwanee, GA, November, 2011 indicate that there are 502 properties on the market (down from 579 last month).  Overall, there is about an 7.0 month supply of properties (up from 6.6 last month).  November had 53 sales.  Compared to 2010 (48), that was a little stronger.  Inventory was down, as well, compared to 2010 (582).  The last five months have been very strong, but that comes on a very weak June and just average sales for a couple of prior months.  November was a bit stronger than last year, but well down from October (83 sales).  Obviously, I like seeing continued strength here.

In the Under $200k arena, there are 161 listings in Suwanee, GA, with about a 5.3 month supply (156 and 8.5, respectively last year).  This November’s sales were OK, at 26 (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 was looking for a solid follow-up to last month’s 42 sales, but we didn’t get it.  While it was a good showing against last year, it was far from a good showing overall.  Hopefully we’ll see a similar number of sales for December…

Between $200k and $400k, there are 235 listings for sale (285 last year), and 7.0 months of supply.  Sales in November, 2011 were 23 (31 in October), compared with 27 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.  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.  Could be getting better…

From $400k to $600k, there are 57 homes on the market. The absorption rate is at 10.1 months (6.6 in September).  There were 4 sales in November (8 in October)… flat compared to last November.  Looking at the three month average, there were 17 sales this year and 12 for the same period last year.  This segment had gotten dramatically stronger in the last couple of months, but like the lower price segments, dropped off heavily this month.  We should be looking at more than 10 sales for December… I’m not expecting it, though.

In the $600k to $800k arena, there are 17 listings, with about a 12.8 month supply (8.1 last month). Sales at this level are not consistent, but there were 0 this month (1 last month). Looking at one month makes the numbers jump around. For the last three months, sales were 4… For the same time last year, the sales were 2. 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. But until I see 2-3 sales a month on average, I can’t call this one strong.

The range from $800k to $1m, there are 7 homes listed and 21 months of inventory on the market.  There were only 4 sales at this price level this year (1 in April, 2 in July and 1 in August) . 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 sales activity.

In Suwanee, GA, Above $1m, there are 25 properties listed.  The current absorption rate indicated about 75 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales (only 1 sale for October, 0 for November).  In this segment, we should be seeing reduced inventories…  There were 25 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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Wayback Wednesday… A Gift That KEEPS On Giving…

Wednesday, 21 December 2011 08:00
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Pile of gorgeous gifts

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This is the time of year when everyone is thinking about gifts.  Some are buying, others are thinking about what they might be getting.  Some may be doing some of both.  There are lots of types of gifts.  The first thing that many of us default to are the big screen TVs, hi-po car parts and video games… maybe even some socks and underwear.  Most of us don’t think about gifts to our community.

But those can be some of the best gifts…  and we can give them for almost free.

I have been volunteering for Junior Achievement for the last few years.  It is incredibly rewarding walking into a classroom and getting the AMAZING reaction from the kids.  They are so ready for a “new” adult to come and talk to them about business and economics.  Seriously.  Actually, they are ready for someone to talk to them about almost anything.  But I can tell you that they REALLY want to learn, engage, share and grow.

Getting more volunteers for JA would be a great thing, but honestly, there are a lot of opportunities to gift that kind of gift to the community.  Scouting is another great option (I’m involved with that, as well…).  There are local community centers, senior centers, parks… there are a LOT of ways that you can give something to the community.

Many of those opportunities magnify that gift… kind of like a corporate match, but in effect rather than cash.  As an example, for the two volunteer programs that I dedicate most of my time to, JA and Scouting, have the added value of making a real impact in the lives of kids.  JA plants the seeds of entrepreneurship in youngsters, while Scouting fosters leadership and responsibility.  Both of those things are long term gifts to the community that pay back MUCH more than the meager investment we adults make in the kids.

Last year I wrote a little about my experience with JA.  Check it out.  Find your local chapter.  Or get involved with Scouting (Boy, Girl, Venturing, etc.).  You don’t have to have a kid in the Troop, Pack or Crew… just a desire to make a positive impact and have a great time doing it.

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