Suwanee, GA is a suburb of Atlanta in Gwinnett, Forsyth and (just a little bit) in Fulton Counties. The population is 2000 was 8,725, but that only included the area inside the city limits, and it had seen tremendous growth since that census. Money Magazine rated Suwanee in the “Top 10 Best Places to Live” in 2007, and it is one of the wealthiest parts of Georgia. Recently, the City of Suwanee has revamped their old town, adding a large park with a bandshell, condos, town homes and small businesses. It is also home to North Gwinnett High School, Peachtree Ridge and Collins Hill.
Market stats for Suwanee, GA, April, 2010 indicate that there are 657 properties on the market. Overall, there is about an 10.2 month supply of properties. This is one of the rare markets that is showing a better Absorption Rate for March than February, and that trend continued into April... but there were a lot of segments showing improvement for April. 
In the sub-$200k arena, there are 125 listings, with about a 6.25 month supply. This is stronger than most of the rest of the county, but still not as strong as it was in November (less than 4 months supply). However, with an increase in sales compared to last year, and listings not growing as rapidly as many areas, Suwanee is still looking solid.
Between $200k and $400k, there are 344 listings for sale, and 10.75 months of supply. The Absorption Rate for April was slightly better than for March. But, sales (37 units) were well above last year (33 homes).
From $400k to $600k, there are 93 homes on the market. The absorption rate is at 12.7 months. March sales were equal to January and February... combined, with 10 homes sold. For April, sales backed down to 6... the same as April, 2009.
In the $600k to $800k arena, there are 49 listings, with about a 14.7 month supply. Sales for April were pretty strong at 5 homes. That is well above the 3 for April, 2009, and for the combined 3 sales in December through February, but the same as March, 2010.
The range from $800k to $1m, there are 11 homes listed and approximately 33 months of inventory on the market. There has only been 2 sales at this price level in December through April (Jan. and April). This is one of the few segemtns that is less attractive this month compared to last.
Above $1m, there are 35 properties listed. The current absorption rate indicated about 21 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales. In fact, for March there were 3 sales, and that dropped the Absorption rate from 57 months to 27.75. One sale in April further brought that down to 21 months.
I have a page dedicated to Suwanee Market Data.
Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey.
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