Looking Out From the Garage: September 2010

Lilburn, GA Market Report, August 2010

Lilburn National Night OutLilburn 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.

Market stats for Lilburn, August, 2010, indicates that there are 481 properties on the market (as of August 31st). Overall, there is about a 9.6 month supply of properties.  Lilburn is actually one of the better performing cities in Gwinnett County.  Absorption Rates have been improving since March.  In fact, in March the re was 15.3 months of inventory.

In the sub-$200k arena, there are 292 listings, with about an 7.8 month supply.  This represents most of the sales in the market area, and reflects the same improvement in inventory levels since March.  And, one other thing to keep in mind is that sales were VERY strong compared to August 2009 (38 v 25).

Between $200k and $400k, there are 162 listings for sale, and about 14.3 months of supply. This segment has also been getting stronger each month since March.  However, there were only 9 sales in August 2010, compared to 13 last year.

From $400k to $600k, there are 22 homes on the market. The absorption rate is around 22 months.  There were exactly the same number of sales in August 2009 (3) as this year, but there were no sales in this segment in May, June or July.  Last summer was much stronger.  With just a few sales, just a sale or two can make a huge difference.

Above $600k, there are 5 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 and March).  Two of the listings are above $800k, and there is no market activity in the last 12 months for that range…

I have a page dedicated to Lilburn Market Data.

 

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Comment balloon 2 commentsLane Bailey • September 28 2010 11:55PM
Lilburn, GA Market Report, August 2010
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