SUWANEE GA - 2009 In Review

By
Real Estate Agent with Berkshire Hathaway GA Prop

 

Located about 30 miles north of down town Atlanta, Suwanee GA has become nationally recognized as one of the best places to live in the United States.  The City of Suwanee has worked diligently over the past several years to create a very family-oriented community - and, they have succeeded. However, the City of Suwanee, like everywhere else, has not been untouched by the down turn in the housing market. The real eye opener came as I prepared this report and looked at the total homes sold in 2009 vs. 2007....a drop in units sold of 71%!!

And as "fun" as it is to look back at where we once came, it is important to spend more time looking forward. So as we open the door and welcome in 2010, we will no longer be a stranger to the foreclosure market. And, as real estate agents, most of us will be better prepared to take on the foreclosures now scheduled to hit our market in the next few months.

And the optimist in me tells me that the worst is behind us. No! I don't think property values will bounce back in the next year or so; but, we will eventually see the foreclosures absorbed and the housing market return to a "new" norm. But until then I believe Suwanee, like so many other places, will put their best foot forward and we will ride the peaks and valleys that lie ahead of us together.

SUWANEE SOLDS 2009

SOLD HOMES:  791
Highest Sold Price:  $2,010,000
Lowest Sold Price:   $     48,000
Avg Sold Price:       $    299,518
Avg List to Sale:                  94%
Avg DOM:                           97

2009 Breakdown

  • Foreclosure:   155
  • Corporate Owned:  103
  • Owner Transferred:  43
  • New Construction:  136
  • Lease/Purchase:  23
  • Resale:  331
SUWANEE SOLDS 2008

Sold Homes:  823
Higest Sold Price:   $5,500,000
Lowest Sold Price:  $     60,000
Avg Sold Price:      $    359,649
Avg List to Sale:                 95%
Avg DOM:                         102

2008 Breakdown

  • Foreclosure:  111
  • Corporate Owned:  74
  • Owner Transferred:  53
  • New Construction:  210
  • Lease/Purchase:  25
  • Resale:  350

 

2009 vs. 2008 BREAKDOWN by CATEGORY

              CATEGORY                                  %  CHANGE
  • Foreclosure:                                                      ↑  28%
  • Corporate Owned:                                              ↑  28%
  • Owner Transferred:                                            ↓  23%
  • New Construction:                                              ↓  54% 
  • Lease/Purchase                                                 ↓   9%
  • Resale:                                                            ↓   6%

SUWANEE SOLDS 2009 vs. 2008

COUNTY

Gwinnett
Forsyth
Fulton
2009

554
220
  17
2008

541
267
  15
% CHANGE

↑  2%
↓ 21%
↓ 12%
2007

741
355
  25

*Suwanee straddles three counties: Gwinnett, Forsyth and Fulton. The city limits of Suwanee is located in Gwinneet County.


Information has been collected from the First Multiple Listing Service (FMLS).  Data
is believed to be accurate at the time of collecting data, but is not guaranteed.

 

 


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MySuwaneeHome.com

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Janice Slaven

Suwanee Georgia Real Estate
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