Lilburn, GA Market Report, September 2010

Real Estate Agent with Century 21 Results Realty
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Market stats for Lilburn, September, 2010, indicates that there are 443 properties on the market (as of September 30th). Overall, there is about a 9.8 month supply of properties.  Lilburn is actually mid-pack among cities in Gwinnett County.  Absorption Rates had been improving since March, until September.  In fact, in March there was 15.3 months of inventory.

In the sub-$200k arena, there are 273 listings, with about an 7.7 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March.  And, one other thing to keep in mind is that sales were strong compared to September 2009 (32 v 25).

Between $200k and $400k, there are 146 listings for sale, and about 19 months of supply. This segment has also been getting stronger each month since March, until this month.  There were only 2 sales in September 2010, compared to 11 last year.

From $400k to $600k, there are 20 homes on the market. The absorption rate is around 15 months. There was one more sale in September 2010 (1) v September 2009 (0) as this year, but there were no sales in this segment in May, June or July this year.  Last summer was much stronger overall.  With just a few sales, just one or two can make a huge difference.

Above $600k, there are 4 listings, but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last three months, but prior, there had only been a few other sales in 2010 (January, March and August).  One of the listings is above $800k, and there is no market activity in the last 12 months for that range…

Lilburn is in Gwinnett County, GA, just outside of Atlanta.  As of the 2000 Census, there were 11,307 people in Lilburn, but that is only including people in the city limits, and there has been a lot of growth since 2000 in Gwinnett County.  It was incorporated in 1910.  Lilburn is home to Parkview High School, and also has students that the Brookwood, Berkmar and Meadowcreek clusters. It is also home to Killian Hill Christian School, Providence Chrisian Academy, St. John Neumann Catholic School and Parkview Christian School.  Possibly the most famous resident of Lilburn is General Beauregard Lee, a groundhog with a better winter prediction record that Puxatawnee Phil up in PA. Dominique Wilkins, formerly of the Atlanta Hawks also lives in Lilburn.

I have a page dedicated to Lilburn Market Data.

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Ross Therrien
Prudential Verani Realty, Londonderry,New Hampshire - Londonderry, NH
Realtor, Broker Associate

Over 400 homes on the market sounds like alot but like my area the activity is decent under 200.....where most of the sellers aren't, damn!

Oct 26, 2010 04:19 PM #1
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
Trusted For Experience - Respected For Results

Lane the inventory coming down must be good news for sellers in your area but there are some comments in your pot that make this a mixed message

Oct 26, 2010 04:22 PM #2
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Ross - This is a small subset... there are a LOT of homes on the market in Gwinnett County... and still not enough selling. 

Kathy - Inventories always come down this time of year... and if sales slow faster than inventory reduces, it isn't great.

Oct 26, 2010 04:27 PM #3
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