Statistics for single family detached homes in the Gwinnett County real estate market for the month of November 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 27 properties ranging in price from $69,000 to $999,900 that went under contract and 4 properties that closed ranging in price from $118,800 to $320,000. In the new construction segment of the market 2 homes priced from $189,900 to $499,000 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 $899,000 that went under contract and 13 properties that closed ranging in price from $41,475 to $365,000. In the new construction segment of the market 13 properties went under contract ranging in price from $229,900 to $634,900 and 3 properties closed ranging in price from $160,000 to $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 49 properties ranging in price from $87,900 to $384,900 that went under contract and 12 properties that closed ranging in price from $65,000 to $347,500. In the new construction segment of the market 7 properties went under contract ranging in price from $182,000 to $544,900 and 5 properties closed ranging in price from $182,000 to $469,000.
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 91 properties ranging in price from $32,900 to $399,900 that went under contract and 8 properties that closed ranging in price from $45,000 to $180,000. In the new construction segment of the market 7 properties went under contract ranging in price from $164,900 to $690,000 and 5 properties closed ranging in price from $232,000 to $590,000.
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 59 properties ranging in price from $39,900 to $424,000 that went under contract and 5 properties that closed ranging in price from $79,000 to $183,000. In the new construction segment of the market 9 properties went under contract ranging in price from $139,900 to $339,900 and 1 property closed. It sold for $225,000.
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 25 properties ranging in price from $49,900 to $499,900 that went under contract and 4 properties that closed ranging in price from $90,000 to $167,900. In the new construction segment of the market 5 properties went under contract ranging in price from $139,990 to $274,900 and 1 property closed. It sold for $225,000.
Gwinnett County Real Estate Sales for November 2008
For the month of November 2008, real estate sales for single family detached homes in Gwinnett County looked like this:
• 311 Resale Properties Went Under Contract
• 46 Resale Properties Closed
• 43 New Construction Properties Went Under Contract
• 17 New Construction Properties Closed.
Compared to October’s data Gwinnett County as a whole slipped a bit in moving toward recovery. The Resale Market shows a decline of 61 units going under contract and a decline of 70 closed units. The New Construction Market also declined with 23 fewer properties going under contract and 8 fewer closings. With the number of properties that have gone under contract in the last two months in Gwinnett County I would expect that closings in December will be up.