Statistics for single family detached homes in the Gwinnett County real estate market for the month of December 2008 are in. Gwinnett County is divided into six different areas and we will examine each area and then look at the county as a whole.
Area 61
Area 61 is that section of the county that is North of I-85 and West of Pleasant Hill Road. Area 61 includes Norcross, Berkeley Lake and part of Duluth. In the resale segment of the market there were 15 properties ranging in price from $64,900 to $490,000 that went under contract and 8 properties that closed ranging in price from $82,000 to $341,700. In the new construction segment of the market 1 home priced at $304,900 went under contract and there were no closings in the new construction category.
Area 62
Area 62 is the section of the county that is North of Pleasant Hill Road and North of I-85. Area 62 includes Buford, Sugar Hill, part of Duluth and part of Suwanee. In the resale segment of the market there were 59 properties ranging in price from $39,900 to $1,399,900 that went under contract and 26 properties that closed ranging in price from $60,000 to $1,250,000. In the new construction segment of the market 16 properties went under contract ranging in price from $179,900 to $1,190,000 and 15 properties closed ranging in price from $197,000 to $5,500,000.
Area 63
Area 63 is the section of the county that is South of I-85, Northeast of Hwy. 120 and North of Hwy. 29. Area 63 includes parts of Lawrenceville, Duluth, Suwanee and Dacula. In the resale segment of the market there were 48 properties ranging in price from $74,900 to $469,900 that went under contract and 27 properties that closed ranging in price from $70,000 to $357,505. In the new construction segment of the market 11 properties went under contract ranging in price from $159,900 to $659,900 and 4 properties closed ranging in price from $180,000 to $350,000.
Area 64
Area 64 is the section of the county that is South of I-85, Southwest of Hwy. 120, West of Hwy. 124 and North of Hwy. 78. Area 64 includes Lilburn along with parts of Lawrenceville and Snellville. In the resale segment of the market there were 78 properties ranging in price from $54,500 to $419,900 that went under contract and 18 properties that closed ranging in price from $58,900 to $319,600. In the new construction segment of the market 3 properties went under contract ranging in price from $224,900 to $289,995 and 2 properties closed ranging in price from $225,000 to $671,500.
Area 65
Area 65 is the section of the county that is South and East of Hwy. 78 and Hwy. 124, and South and West of Hwy. 20. Area 65 includes Grayson along with parts of Snellville and Lawrenceville. In the resale segment of the market there were 53 properties ranging in price from $49,900 to $429,900 that went under contract and 12 properties that closed ranging in price from $61,500 to $623,333. In the new construction segment of the market 9 properties went under contract ranging in price from $164,900 to $299,900 and 8 properties closed ranging in price from $132,000 to $249,900.
Area 66
Area 66 is that section of the county that is East of Hwy. 20 and South of Hwy. 29. Area 66 includes parts of Dacula and Lawrenceville. In the resale segment of the market there were 30 properties ranging in price from $85,900 to $274,900 that went under contract and 11 properties that closed ranging in price from $104,500 to $552,000. In the new construction segment of the market 12 properties went under contract ranging in price from $159,900 to $450,000 and 3 properties closed ranging in price from $210,000 to $248,500.
Gwinnett County Summary
For the month of December 2008, real estate sales for single family detached homes in Gwinnett County looked like this:
• 283 Resale Properties Went Under Contract
• 102 Resale Properties Closed
• 52 New Construction Properties Went Under Contract
• 32 New Construction Properties Closed.
Moving toward recovery in the real estate market is not an easy task. Gwinnett County has taken a substantial step toward recovery in December. Closing for both resale and new construction are up for the month compared to last month. With interest rates being extremely low and home prices having leveled out buyers seem to now be ready to take advantage of the market.