Statistics for single family detached homes in the Gwinnett County real estate market for the month of January 2009 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 26 properties ranging in price from $59,900 to $524,000 that went under contract and 7 properties that closed ranging in price from $68,000 to $400,000. In the new construction segment of the market 1 home priced at $437,900 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 78 properties ranging in price from $35,900 to $772,900 that went under contract and 8 properties that closed ranging in price from $140,000 to $471,000. In the new construction segment of the market 19 properties went under contract ranging in price from $165,900 to $1,399,900 and 9 properties closed ranging in price from $179,900 to $1,300,000.
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 68 properties ranging in price from $58,900 to $383,900 that went under contract and 13 properties that closed ranging in price from $83,000 to $329,000. In the new construction segment of the market 18 properties went under contract ranging in price from $184,300 to $484,900 and 6 properties closed ranging in price from $195,000 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 107 properties ranging in price from $48,900 to $529,000 that went under contract and 15 properties that closed ranging in price from $40,000 to $515,000. In the new construction segment of the market 6 properties went under contract ranging in price from $150,000 to $619,900 and there were no closings.
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 75 properties ranging in price from $33,900 to $350,000 that went under contract and 11 properties that closed ranging in price from $52,000 to $328,000. In the new construction segment of the market 11 properties went under contract ranging in price from $163,900 to $474,900 and 2 properties closed ranging in price from $176,240 to $195,000.
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 52 properties ranging in price from $65,000 to $449,900 that went under contract and 8 properties that closed ranging in price from $95,000 to $430,000. In the new construction segment of the market 14 properties went under contract ranging in price from $164,510 to $399,824 and 1 properties closed at a price of $360,000.
Gwinnett County Summary
For the month of January 2009, real estate sales for single family detached homes in Gwinnett County looked like this:
• 406 Resale Properties Went Under Contract
• 62 Resale Properties Closed
• 69 New Construction Properties Went Under Contract
• 18 New Construction Properties Closed.
Gwinnett County may well be on it’s way toward recovery in the real estate sector. Recenty several clients have asked when we would hit the bottom in the real estate market in Gwinnett County. My responce was that we probably would not know we have hit bottom until we had 2 to 3 months of positive data to enlighten us. Compared to December of 2008 in January 2009 properties that went under contract in Gwinnett County increased by 41.79 percent. Couple that with December 2008 showing an increase over November 2008 and a very positive trend is imerging. It is difficult to predict whether or not this trend will continue but with interest rates being at historically low levels it would seem to make sense.
