Looking Out From the Garage

Lilburn, GA Market Report, December 2010

Sunrise in Lilburn
Image by mjp* via Flickr

Market stats for Lilburn, December, 2010, indicates that there are 379 properties on the market (as of December 31st). Overall, there is about a 10.9 month supply of properties.  Lilburn is actually mid-pack among cities in Gwinnett County.  The Absorption Rates had been getting worse since August, but December clocked an improvement from 11.8 months of inventory in November.  In March there were 15.3 months of inventory.

In the sub-$200k arena, there are 244 listings, with about an 8.0 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels, continuously since March, until October.  Sales were drastically higher than December 2009 (31 v 22).  Oddly, the Absorption Rate is exactly the same as a year ago.

Between $200k and $400k, there are 114 listings for sale, and about 28.5 months of supply. This segment has been quite weak for months.  Having 0 sales in December, and only 6 each on November and October didn't help.  For comparison, in 2009 there were 18 sales in October, 9 in November and 7 in December.  The expected end of the tax credit last year started pushing sales down in Nov. 2009.  While the Absorption Rate got slightly better compared to last month, the change was marginal.

From $400k to $600k, there are 16 homes on the market. The absorption rate is around 48 months. There  were no sales in this segment in May, June, July, October or December this year.  There were only 4 sales in August and September(combined). November had 1 sale (2 last year). Last summer was much stronger overall.  With just a few sales, just one or two can make a huge difference.

From $600k to $800k, $800k to $1M and Above $1M, there are 5 listings (combined), but too few sales to have any sort of reliable number of months of inventory.  There has been one sale in the last five months, but prior, there had only been a few other sales in 2010 (January, March and August).  One of the listings is above $1M (none between $800k and $1M), 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.

Lilburn Market Data on LaneBailey.com

Enhanced by Zemanta

Find YOUR Dream HomeWhat's YOUR Home Worth?How's the Market?

Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey. 

I'd love to hear from you...

DeliciousDiggRSSOn TwitterFaceBook

Email Me

Comment balloon 0 commentsLane Bailey • January 16 2011 09:55PM
Lilburn, GA Market Report, December 2010
Image by mjp* via Flickr Market stats for Lilburn, December, 2010 indicates that there are 379 properties on the market (as of December 31st). Overall, there is about a 10. 9 month supply of properties. Lilburn is actually mid… more
Photo Friday… Driving on the Ice
Even if you don't live around Atlanta, you'd have to be hiding under a rock not to have heard about our weather this week. It has been pretty wild. Snow and Ice… We got ice, followed by snow… followed by ice. Then melt and refreeze. … more
I'm Always Up For a Good Surprise..
Image via Wikipedia I was working over the market data for Gwinnett County, GA… outside of Atlanta. And the numbers were a bit surprising. They were good… Almost across the board… Why am I not excited? I want to be… more
Wayback Wednesday… Keeping the Mystery Alive…
Image via Wikipedia Mystery attracts, right? That mysterious woman or man has an allure because of the unknown qualities they may possess. You don't know their background or their motivation. And so, the coolest possibilities… more
Winter Driving Tips… Georgia Style…
Image via Wikipedia I will admit that I am a transplanted Northerner. I grew up in Michigan (and Virginia)… and moved here from Minnesota, 21 years ago. After 6 winters in MN, I learned a few things about driving in the snow… more
Gwinnett County GA Overall Market Report… November, 2010
Image via Wikipedia Here are the final numbers for Gwinnett County Home sales for November, 2010. At the end of November, 2010, there were 6, 017 homes on the market in Gwinnett County, GA As usual, we have a drop off in… more
53 Cool Concept Cars… Part XXXVII…
Image by Chad Horwedel via Flickr Son, you're going to drive me to drinkin' if you don't stop drivin' that Hot Rod Lincoln. Back before World War II, the hottest, most powerful cars were luxury cars. Cadillac and… more
Lane's Prognostications for 2011…
Image by thinkpanama via Flickr We'll see how well I peg this. Lane's Predictions for 2011… Looking back over the last year or two in real estate market reports, there are a few things that have been jumping out at… more
Photo Friday… Hiking in the Sky
Testing his fear of heights… This is the new thing. Each Friday, I will feature a photo. Many will be local. Some may be real estate related. Others will be definately not local, and might not be related to real estate. Cars, people,… more
Wayback Wednesday… Looking at the Mechanics of Listings
This post was to appear yesterday, but was pre-empted. I am presenting it today. Sorry for the delay. Image via Wikipedia Two years ago I got a bug in my bonnet because it didn't seem like I was seeing enough pictures for… more