Market stats for Lilburn, November, 2010, indicates that there are 425 properties on the market (as of November 30th). Overall, there is about a 11.8 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 were 15.3 months of inventory.
In the sub-$200k arena, there are 264 listings, with about an 8.6 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 on par with November 2009 (28 v 24).
Between $200k and $400k, there are 134 listings for sale, and about 28.7 months of supply. This segment has also been getting stronger each month since March, until September. There were only 2 sales in September 2010, compared to 11 last year and 6 in October v 18 in 2009. November held 6 sales in 2010 v 9 in 2009. The expected end of the tax credit last year started pushing sales down in Nov. 2009.
From $400k to $600k, there are 22 homes on the market. The absorption rate is around 33 months. There were no sales in this segment in May, June, July or October 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 four 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, GA Market Report, October 2010 (lanebailey.com)
- Lilburn, GA Market Report, September 2010 (lanebailey.com)
- Lilburn, GA Market Report, August 2010 (lanebailey.com)
Lilburn GA market Report from LaneBailey.com