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Gwinnett County Real Estate Market Report 7-08
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Gwinnett County Real Estate Market Report 7-08

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  • 1. Gwinnett County Real Estate Market Report May – June 2008
  • 2. May Numbers - Updated
    • 2231 New Listings
    • 757 Sold Listings
    • 850 Listings Pending
    • Average 96 Days on Market for Sold Listings
  • 3. May Numbers - Updated
    • *Listings Pending may have closed in April, may have closed in May, may close in some other month, or may fail to close. But, there IS overlap with Sold Listings.
  • 4. June Numbers - Preliminary
    • 2226 New Listings
    • 551 Sold Listings
    • 781 Listings Pending
    • Average 94 Days on Market for Sold Listings
  • 5. June Numbers - Preliminary
    • *While all of these numbers are subject to revision next month, the Sold Listings tend to have the most radical revision. I am estimating 750 closed sales for June.
  • 6. Days on Market (DoM)
  • 7. Conclusions
    • Days on Market usually drop in April, May and June. I expect to see mid-90 DoM for May (at 96), June (at 94).
    • If DoM drops further, or continues to decline in July, that could signal strength.
  • 8. New, Pending & Sold Listings
  • 9. Conclusions
    • I expect to see June Sales come in around 750 units. I was 100 low for May…
    • Look for New Listings to slow. If coupled with increase in Pendings and Solds, that is a signal of strength.
  • 10. May Absorption Rates
    • 9931 Listings on the market in Gwinnett County at the end of April, and sales averaged over 12, 6 and 3 month periods.
    • 12 month average: 14.2 months inventory
    • 6 month average: 17.4 months inventory
    • 3 month average: 15.5 months inventory
  • 11. June Absorption Rates
    • 9864 Listings on the market in Gwinnett County at the end of May, and sales averaged over 12, 6 and 3 month periods.
    • 12 month average: 15.0 months inventory
    • 6 month average: 17.4 months inventory
    • 3 month average: 15.5 months inventory
  • 12. Conclusions
    • While the June numbers aren’t final, they are still showing a strengthening of the market.
    • Look for the 3 month average Absorption Rate to drop under 14.5 months.
    • If this happens, it will be a clear sign of strengthening.
    • There is still a long way to go, 6 months is considered balanced.
  • 13. New/Sold Ratio
    • This ratio compares new listings and sold listings for a given month. It is useful to sellers in determining a pricing strategy.
  • 14. New/Sold Ratio
    • In May, 34% as many homes sold as were listed during the month. This means that on average, for each 3 homes that were put up for sale, 1 sold.
    • In June, early numbers point to 25% (1:4)
  • 15. New/Sold Ratio
  • 16. Conclusion
    • The weakness of the N/S% shows that few homes are priced attractively to Buyers.
    • This number tops around 67%
    • Anything under 33% is very weak.
    • Look for the mid 30s this summer.
    • The latest month is always suspect, as the final numbers are never the same as preliminary.
  • 17. Average Sales Price
    • May - $221,567 Down 6.3% from May, 2007
    • June - $235,701 Down 6.2% from June 2007
  • 18. Average Sales Price
    • Average prices may be volatile, affected by strong or weak sales of homes priced in particular ranges.
    • This number doesn’t really give an indication of market direction except in the broadest sense.
  • 19. List Price/Sales Price Ratio
    • May – 96.01%
    • June – 96.06%
    • Over the last few years Sale Prices generally held between 97% and 98.5%, although there have been some dips into the high 96% range in the last few months.
  • 20. Conclusion
    • List/Sale Price % gives an indication of Buyer strength.
    • It also shows whether Sellers are being realistic with pricing.
    • The indications are also very general.

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