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Suwanee Market Report, March, 2010

By
Real Estate Agent with Century 21 Results Realty GA RE Lic # 282060

Suwanee GASuwanee, 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, January, 2010 indicate that there are 529 properties on the market. Overall, there is about an 9 1/2 month supply of properties, with sales matching the pattern set in most of the rest of the county, sales dropped off after November.

 

In the sub-$200k arena, there are 113 listings, with under 7 months supply. This is stronger than most of the rest of the county, but not as strong as it was in November (less than 4 months supply).  Part of that is because of the increase in listings... and half the sales.

 

Between $200k and $400k, there are 254 listings for sale, and under 9 months of supply. Sales dropped off dramatically during the Holiday period.  Some slowing is normal, but we'll have to keep an eye on the upcoming data to see if things change.

 

From $400k to $600k, there are 81 homes on the market. The absorption rate is around 12 months. Sales aren't that bad compared to December/January 2009.

 

In the $600k to $800k arena, there are 34 listings, with about a 14 1/2 month supply.  Sales are actually picking up here...

 

The range from $800k to $1m, there are 7 homes listed and approximately 10 1/2 months of inventory on the market.  While it is pretty strong at this price level, the number can bounce around a lot because of the low overall volume of sales.

 

Above $1m, there are 40 properties listed. The current absorption rate indicated 5 years of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.

 

From LaneBailey.com.  I have a page dedicated to Suwanee Market Data.

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Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

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Comments (1)

Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

Is that a line of people I see making up the outline of a football with an "S" in the middle?

 

Must stand for S-weet.

Mar 07, 2010 08:36 PM