Norcross, GA is a suburb of Atlanta in Gwinnett County. The population is 2000 was 8,41, but that only included the area inside the city limits, and it has seen tremendous growth since that census. The City of Norcross revamped their old town a long time ago, and it has served as a model for other towns in the area. It is also home to Meadow Creek and Norcross High Schools. One of the things that Norcross is known for locally is the beautiful older homes in the downtown area. They have maintained their historic flair quite successfully.
Market stats for Norcross, January, 2010 indicate that there were 283 properties on the market. Overall, there is about a 7 month supply of properties, with sales remaining fairly steady... Last January there were 31 sales, and there were 29 this time around.
In the sub-$200k arena, there were 139 listings, with just over 5 months supply. It may be the strongest market segment in Gwinnett County. February will be very telling, though as November's strong sales drop off.
Between $200k and $400k, there were 101 listings for sale, and under 10 months of supply. January was a powerhouse, with 10 sales compared to only 3 in 2009.
From $400k to $600k, there were 36 homes on the market. The absorption rate is around 27 months. The 4 sales in the Nov-Jan period doesn't compare well to the previous year's 9 sales...
In the $600k to $800k arena, there were 4 listings on the market. There has been one sale in the last year. That calculates to a 4 year absorption rate...
The range from $800k to $1m, there were no homes listed on the market.
Above $1m, there were 3 properties listed. The current absorption rate indicated 9 months of inventory, but because of the smaller numbers of sales, this could be significantly impacted by just a couple of sales.
from LaneBailey.com. I have a page dedicated to Norcross Market Information.
Unless otherwise noted, all content of this blog is the property of Lane Bailey, ©2012 Lane Bailey.
I'd love to hear from you...
I wanna go to THAT water park....but with no kids? Ok, you can bring yours...
I am taking a trip to Georgia in April, Roswell GA.
Looks like a great neighborhood with that water park!
Seems like a typical trend that the lower market segment heats up first, and hopefully that will stimulate the higher price ranges.