Gwinnett County Real Estate Market Report June - July 2008
June Numbers - Updated <ul><li>2229 New Listings </li></ul><ul><li>766 Sold Listings </li></ul><ul><li>776 Listings Pendin...
June Numbers - Updated <ul><li>*Listings Pending may have closed in June, may have closed in July, may close in some other...
July Numbers - Preliminary <ul><li>2096 New Listings </li></ul><ul><li>411 Sold Listings </li></ul><ul><li>731 Listings Pe...
June Numbers - Preliminary <ul><li>*While all of these numbers are subject to revision next month, the Sold Listings tend ...
Days on Market (DoM)
Conclusions <ul><li>Days on Market usually drop in April, May and June.  I expected to see mid-90 DoM for May (at 96), Jun...
New, Pending & Sold Listings
Conclusions <ul><li>I expect to see July Sales come in around 700 units.  I was 16 low for June… </li></ul><ul><li>Look fo...
June Absorption Rates <ul><li>9931 Listings on the market in Gwinnett County at the end of April, and sales averaged over ...
July Absorption Rates <ul><li>9864 Listings on the market in Gwinnett County at the end of May, and sales averaged over 12...
Conclusions <ul><li>While the July numbers aren’t final, they are still showing a strengthening of the market. </li></ul><...
New/Sold Ratio <ul><li>This ratio compares new listings and sold listings for a given month.  It is useful to sellers in d...
New/Sold Ratio <ul><li>In June, 34% as many homes sold as were listed during the month.  This means that on average, for e...
New/Sold Ratio
Conclusion <ul><li>The weakness of the N/S% shows that few homes are priced attractively to Buyers. </li></ul><ul><li>This...
Average Sales Price <ul><li>June - $233,099  Down 7.2% from June, 2007 </li></ul><ul><li>July - $237,396 Down 2.7% from Ju...
Average Sales Price <ul><li>Average prices may be volatile, affected by strong or weak sales of homes priced in particular...
List Price/Sales Price Ratio <ul><li>June – 95.94% </li></ul><ul><li>July – 95.25% </li></ul><ul><li>Over the last few yea...
Conclusion <ul><li>List/Sale Price % gives an indication of Buyer strength.  </li></ul><ul><li>It also shows whether Selle...
Overall Conclusion <ul><li>While I always expect to see seasonal increases this time of year, the numbers are fairly stron...
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Gwinnett County Real Estate Market Report 8 08

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Gwinnett County Market Report for August 2008, covering June and July

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Gwinnett County Real Estate Market Report 8 08

  1. 1. Gwinnett County Real Estate Market Report June - July 2008
  2. 2. June Numbers - Updated <ul><li>2229 New Listings </li></ul><ul><li>766 Sold Listings </li></ul><ul><li>776 Listings Pending </li></ul><ul><li>Average 90 Days on Market for Sold Listings </li></ul>
  3. 3. June Numbers - Updated <ul><li>*Listings Pending may have closed in June, may have closed in July, may close in some other month, or may fail to close. But, there IS overlap with Sold Listings. </li></ul>
  4. 4. July Numbers - Preliminary <ul><li>2096 New Listings </li></ul><ul><li>411 Sold Listings </li></ul><ul><li>731 Listings Pending </li></ul><ul><li>Average 92 Days on Market for Sold Listings </li></ul>
  5. 5. June Numbers - Preliminary <ul><li>*While all of these numbers are subject to revision next month, the Sold Listings tend to have the most radical revision. I am estimating 700 closed sales for July. </li></ul>
  6. 6. Days on Market (DoM)
  7. 7. Conclusions <ul><li>Days on Market usually drop in April, May and June. I expected to see mid-90 DoM for May (at 96), June (at 90). </li></ul><ul><li>July Preliminary is in at 92 DoM. Coupled with the decrease for June, that signals strength. </li></ul><ul><li>Anywhere in the low 90s for August would be acceptable… dipping into the 80s would be excellent. </li></ul>
  8. 8. New, Pending & Sold Listings
  9. 9. Conclusions <ul><li>I expect to see July Sales come in around 700 units. I was 16 low for June… </li></ul><ul><li>Look for New Listings to slow. If coupled with increase in Pendings and Solds, that is a signal of strength. It may be seasonal, but if we drop below 1900 New Listings, that would be more than seasonal. </li></ul>
  10. 10. June Absorption Rates <ul><li>9931 Listings on the market in Gwinnett County at the end of April, and sales averaged over 12, 6 and 3 month periods. </li></ul><ul><li>12 month average: 14.6 months inventory </li></ul><ul><li>6 month average: 16.4 months inventory </li></ul><ul><li>3 month average: 14.0 months inventory </li></ul>
  11. 11. July Absorption Rates <ul><li>9864 Listings on the market in Gwinnett County at the end of May, and sales averaged over 12, 6 and 3 month periods. </li></ul><ul><li>12 month average: 15.8 months inventory </li></ul><ul><li>6 month average: 16.3 months inventory </li></ul><ul><li>3 month average: 15.2 months inventory </li></ul>
  12. 12. Conclusions <ul><li>While the July numbers aren’t final, they are still showing a strengthening of the market. </li></ul><ul><li>Last month I was calling for June to end up under 14.5 months supply, and it came in at 14. I’m looking for 13.5 months in July after the final numbers come in. </li></ul><ul><li>There is still a long way to go. 6 months of supply is considered balanced. </li></ul>
  13. 13. New/Sold Ratio <ul><li>This ratio compares new listings and sold listings for a given month. It is useful to sellers in determining a pricing strategy. </li></ul>
  14. 14. New/Sold Ratio <ul><li>In June, 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. </li></ul><ul><li>In July, early numbers point to 20% (1:5), but I expect to see that upgrade to 33% for the final numbers. </li></ul>
  15. 15. New/Sold Ratio
  16. 16. Conclusion <ul><li>The weakness of the N/S% shows that few homes are priced attractively to Buyers. </li></ul><ul><li>This number tops around 67% </li></ul><ul><li>Anything under 33% is very weak. </li></ul><ul><li>Look for the mid 30s this summer. </li></ul><ul><li>The latest month is always suspect, as the final numbers are never the same as preliminary. </li></ul>
  17. 17. Average Sales Price <ul><li>June - $233,099 Down 7.2% from June, 2007 </li></ul><ul><li>July - $237,396 Down 2.7% from July 2007 </li></ul>
  18. 18. Average Sales Price <ul><li>Average prices may be volatile, affected by strong or weak sales of homes priced in particular ranges. </li></ul><ul><li>This number doesn’t really give an indication of market direction except in the broadest sense. </li></ul>
  19. 19. List Price/Sales Price Ratio <ul><li>June – 95.94% </li></ul><ul><li>July – 95.25% </li></ul><ul><li>Over the last few years Sale Prices generally held between 97% and 98.5% of List, although there have been some dips into the high 96% range in the last few months. </li></ul><ul><li>Honestly, though, this isn’t a huge indicator of the market. </li></ul>
  20. 20. Conclusion <ul><li>List/Sale Price % gives an indication of Buyer strength. </li></ul><ul><li>It also shows whether Sellers are being realistic with pricing. </li></ul><ul><li>The indications are also very general. </li></ul>
  21. 21. Overall Conclusion <ul><li>While I always expect to see seasonal increases this time of year, the numbers are fairly strong. </li></ul><ul><li>Last year I was calling for a 2 nd Quarter recovery in Gwinnett, but we need to see how Fall goes to know if there is recovery or just positive seasonality. </li></ul><ul><li>There are some great deals, and there are some dogs. The key is finding the right deals. </li></ul><ul><li>Keeping perspective, sales are cyclical. This is a good time for investment… not a great time to sell without a strategy. </li></ul>

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