Gwinnett Georgia Homes Sales Decline 38.35% in Nov. 2007 the average price saw a modest negative loss in value. I know that no one wants to hear that, but hte reality is it is here, and will be getting worse at least for the first half of 2008. Please keep in mind that there are many variables in pricing that do not show up in all the Gwinnett home sales reports! Incentives, commissions paid, sellers contributions, repairs made to the property and and upgrades do not show up in the MLS systems we use.
There are now Active - 8743 Single family Gwinnett homes for sale. Days on market increased modestly, but look at the prices of the maximum priced homes! They have changed significantly lower when comparing 2006 to 2007. Jumbo loans are much harder to get ad qualify for since August 2007. There are now quite a few homes on the upper end of the market that are sitting, and being reduced. Please note the Days on market on the upper end. When 2006 higher prices give way to lower prices...the days on market also drop!
****Please note that some foreclosures, and builder new homes will not show up in the active inventory!
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