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Real Estate Area -
Gwinnett Market Reports
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Written by Administrator
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This is the August report, covering data from June and July. Looking over the report, and putting it into context with previous reports, the market isn't as bad as it was earlier in the year. We are certainly off of last year's numbers, but not as far off as we were earlier in the year. There is still a lot of inventory, but the overhead inventory is starting to drop. However, it will be a couple of months before we know if the recovery is starting, if we are skipping along on a bottom, or we are just working through a burp. Keep in mind, that by the time we are able to call a bottom to the market for certain, it will be 4-6 months in the past. So, the best deals are to be had 1 or 2 quarters before knowing those were the best deals. It kind of reminds me of a Yakof Smirnoff joke... "Big Sale - Last Week... Why tell me now." |
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Real Estate Area -
Gwinnett Market Reports
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Written by Lane Bailey
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Gwinnett County Market Report - May/June 2008 Market reports are a great tool to get the pulse of the market. There is one big drawback though. All market report are looking in a rear view mirror. We are seeing transactions from the last couple of months that completed deals that started a month or more prior to that.In addition, the numbers that we get for the immediately preceding month (June, in this case) tend to be very incomplete. The revisions for May ARE pretty complete, though. If you have any questions or comments about the numbers, or the new format, feel free to drop me a note and let me know. And, while we're on the new format, we will be trying out a few different formats to deliver the market reports over the course of the next couple of months. I know that the info can be pretty dry, but I also know that a lot of readers are looking for the content. |
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Real Estate Area -
Gwinnett Market Reports
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Written by Lane Bailey
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Gwinnett County Market Report - April/May 2008 Market reports are a great tool to get the pulse of the market. There is one big drawback though. All market report are looking in a rear view mirror. We are seeing transactions from the last couple of months that completed deals that started a month or more prior to that.In addition, the numbers that we get for the immediately preceding month (May, in this case) tend to be very incomplete. The revisions for April ARE pretty complete, though. If you have any questions or comments about the numbers, or the new format, feel free to drop me a note and let me know. And, while we're on the new format, we will be trying out a few different formats to deliver the market reports over the course of the next couple of months. I know that the info can be pretty dry, but I also know that a lot of readers are looking for the content. |
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Real Estate Area -
Gwinnett Market Reports
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Written by Lane Bailey
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Gwinnett County Market Report, 5/5/08 The Regular Numbers
April numbers are preliminary… and ugly, but that may change in the next few weeks. Looking over last months report, the numbers for March got a lot better. One of the more interesting things is that the new listings number (that I didn’t think would stick) was pretty close. So, new listings for March were down by 20% v. March 2007. April preliminary numbers are only 10% off of April 2007. The Days on Market for March did move the wrong way, but were still the best level since October last year. While 95 isn’t as good as 89, it’s a bunch better than 105 (February). Absorption Rates and Listed/Sold Percentages
Not so pretty. Let me just toss the numbers out for March (April preliminary in parenthesis): - 12 Month Rate, 12.6 month of inventory (13.9)
- 6 Month Rate, 17.0 months of inventory (19.8)
- 3 Month Rate, 19.1 months of inventory (21.0)
** Absorption basics- If no more properties came onto the market, it would take this many months to sell all of the currently listed properties, assuming that the rate of sales was the same. Six months of inventory is generally considered a balanced market.**
Looking back at the Listed/Sold percentage for the last couple of months, March isn’t bad. |
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Real Estate Area -
Gwinnett Market Reports
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Written by Lane Bailey
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Gwinnett County Market Report, 4/8/08 The Regular Numbers Once again, as usual, the sales numbers for March are preliminary. The February numbers did change a bit over the course of the month, but not as much as expected. Things aren’t as pretty as I’d like, but there are a couple of bright spots. While February did get a little better, most sellers wouldn’t think it was great… There were 514 closed transactions, while it was a 35% decline from a year ago, it was the second best showing (compared to the previous year) since August. March sales show a decrease of 69% from last year, but I think that is going to get closer to the trend (about 33% down…) by the time we have all of the data in. Another bright spot is that New Listings were down by 5% from the previous year. That is the second monthly decline. Preliminary numbers for March show a 20%+ decline in new listings… I don’t expect it to stick. The rocking number (if it sticks) is the Days on Market. |
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