Market stats for Sugar Hill, GA , September, 2010 indicate that there are 226 properties on the market. Overall, there is about an 10.4 month supply of properties, with sales dropping precipitously since June (31 in June, 15 in August and 17 in September). Meanwhile, inventories are up.
In the sub-$200k arena, there are 151 listings, with under 13.7 months supply. Sales are also about ¾ of the level last year over the last three months. Sales appear to be decelerating.
Between $200k and $400k, there are 65 listings for sale, and about 11.5 months of supply. As recently as May, there was only a 6.75 month supply. September was better than August, but still pretty weak overall.
From $400k to $600k, there are 6 homes on the market. The absorption rate is around 18 months, but with 1 sale in the last 4 months, it is tough to calculate accurately. Obviously, a sale or two could make a BIG difference. There have only been 3 sales in this segment this year.
Above $600k, the sales are too inconsistent to have a solid read on, but there are only 4 homes listed for sale in that price range. No sales have been recorded in the last 17 months or so.
Sugar Hill, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 11,399, but that only included the area inside the city limits. The name comes from a bag of Sugar that spilled on a hill while in transit between Cumming and the railroad in Buford. And while it is actually a big market, it is in the shadows of Lawrenceville, Duluth and Suwanee… which all are nearby. That also makes it a great location, as it is close to everything that Gwinnett County, GA has to offer.
I have a page dedicated to Sugar Hill Market Data.
Related articles
- Sugar Hill, GA, Market Report, August 2010 (lanebailey.com)
from LaneBailey.com
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