Suwanee GA Real Estate Market Report For December 2010

By
Real Estate Agent with Virtual Properties Realty

Suwanee GA Real Estate Market Report For December 2010

 

Active listings: 539 homes are available for sale in Suwanee GA priced from $55,000 to $6,500,000.

Pending sales: 85 homes are in escrow priced from $68,000 to $1,299,000.

December sales: 46 homes sold in December 2010. 

  • 22 homes were non-distressed
  • 24 homes were a foreclosure or short sale, or 52% of total December sales

 

In December, 46 homes closed in Suwanee Georgia. This is a decrease of 5 units, as there were 51 homes that closed in December of 2009.

The Average list price for the homes that closed in Suwanee for December 2009 was $308,104.

The Average list price for the homes that closed in Suwanee for December 2010 was $331,715.

The Average sale price for the homes that closed in Suwanee for December 2009 was $287,745.

The Average sales price for the homes that closed in Suwanee for December 2010 was $313,666.

The Average Market time for the homes that closed in Suwanee for December 2009 was 87 days.

The Average Market time for the homes that closed in Suwanee for December 2010 was 117 days. 

 

4 Year History of Sold Properties In Suwanee

Category

2010

2009

2008

2007

Units Sold

747

793

834

1,103

Average Sales Price

$294,138

$299,396

$359,649

$365,740

Distressed Properties Sold

243 or 33% of the units sold

232 or 29% of the units sold

159 or 19% of the units sold

69 or 6% of the units sold

Average Days on Market

89

97

102

82

As you can see in the chart above sales have dropped significantly and the average sales price has dropped by 20% from 2007. Some of the contributing factors include the amount of competition; increase in the amount of distressed properties (foreclosures and short sale properties) and less buyers in the market.  

We will start to see an improvement when the economy stabilizes and more jobs are created keeping the foreclosures and short sales from continuing at the current pace. On a positive note the average sales price is only 2% less than the 2009 average sales price so prices are starting to stabilize. The average days on market has improved as well from the 2009 average.

*All information is from the FMLS and is for detached single family homes only.

 

 Search for all homes in the GAMLS or FMLS 

 

If you have any questions about selling or buying a home in Suwanee or in the Northeast Atlanta area give Mark a call at 404-353-0185.

Almost 90% of buyers are searching online for homes so make sure your getting the proper online market exposure to ensure these buyers will not miss your listing.

See Mark's video testimonials.

Mark services the following Northeast Atlanta cities: Johns Creek, Alpharetta, Roswell, Woodstock, Duluth, Buford, Suwanee  and Lawrenceville Georgia.

About the Author: The above Real Estate information on Suwanee GA Real Estate Market Report For December 2010 was provided by Mark Mitchell. Mark can be reached by phone at 404-353-0185 or via e-correspondence at mark@markmitchellhomes.com. Also visit www.markmitchellhomes.com

Copyright © By Mark Mitchell 2010 *Suwanee GA Real Estate Market Report For December 2010*

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Mark Mitchell

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