If It's Wednesday, It Must Be Market Conditions Wednesday!

HAPPY NEW YEAR!

One of my New Year's Resolutions, is to give more time to my Market Conditions Wednesday column!

As you may recall, I started spot-lighting individual cities in the Atlanta metro area last year. As the year progressed, this project didn't get the weekly focus that was originally intended. I hope to do better in 2011.

In 2010, we reviewed market conditions affecting the cities of Acworth, Alpharetta, Atlanta, Austell, Ball Ground, Canton, Cartersville, Conyers, Covington, Cumming, Dallas, Dunwoody, Holly Springs, Hoschton and Kennesaw.

Today the first focus of the year is on the city of LAWRENCEVILLE.

Lawrenceville was incorporated in 1821, making it one of the oldest cities in the metro Atlanta area. According to the most recent census, Lawrenceville has 13.1 square miles. In 2009, there were 29,397 people, 7,484 households and 5,313 families in the city. Children in Lawrenceville attend the Gwinnett Public School System comprised of 8 Elementary Schools, 4 middle schools and 4 high schools.

Lawrenceville is home to one of the premier hospitals in the region, Gwinnett Medical Center. GMC is a non-profit, 500 bed health care network based in Gwinnett County. It comprises two hospitals, plus several supporting medical facilities, with more than 4,300 employees and more than 800 affiliated physicians.

Historically significant buildings in downtown Lawrenceville include Gwinnett Historical Courthouse and Lawrenceville Female Seminary. Also downtown are various landmarks and antique locations. The downtown area includes many restaurants like UPTown Cafe, Corner Stop Cafe, Cosmo's Original Little Italy Pizza and McCray's Tavern on the Square. Downtown also offers valuable living on the square with the new "Cornerstone On The Square" condos and town homes. Lawrenceville's revitalization plan was strengthened in 2005 when the city crafted a unique partnership with the Aurora Theatre (Gwinnett Counties only professional theatre) which relocated from the nearby town of Duluth to a permanent site in downtown Lawrenceville in May 2007 for the opening of it's eleventh season.

To give you a frame of reference, it might interest you to know that as I write this there is currently 58,945 homes on the market and actively listed in the entire Atlanta metro area.

Likewise, according to the FMLS, there is a total of 1,542 single family homes actively listed and on the market in LAWRENCEVILLE. There are also 188 condo / town homes on the market and actively listed in LAWRENCEVILLE today.

Actively Listed Single Family Homes
This week, actively listed single family homes in Lawrenceville range in price from $25,000 for a 3 bedroom/2 full bathroom ranch style "fixer-upper" built in 1975 to $1.5 million for a luxury estate on 12 acres with a soccer field, 4 barns, 6 pastures, heated pool two kitchens, with 7 bedrooms/8 full and 1 half bathrooms and much more. For those buyers looking for investment property there are more than 400 homes in Lawrenceville listed under $100,000.

Actively Listed Town Home / Condos
This week in Lawrenceville there are currently 188 condo / town-home properties actively listed for sale. These homes range in price from $18,900 for a 2 bedroom/2 full bathroom 2-story town home in the Sandlewood complex. The unit was built in 1974and is currently owned by the Department of Veterans Affairs. At the higher end of the price range there are several newly constructed properties (bank owned) located at Cornerstone on the Square. There are currently three properties listed at $315,000 and one property listed at $299,900.

PENDING SALE
On January 5th at 11:02AM, there are currently 366 single family homes Pending Sales in Lawrenceville. Likewise, there are 49 Condo/Town-Homes Pending Sale.

SOLD Properties -- Single Family Homes
From January 1st 2010 through January 1, 2011 a total of 2,077 single family homes SOLD in Lawrenceville. The highest priced home to sell in Lawrenceville during the year was originally listed at $849,900 and sold for $800,000 or 94% SP/OLP%. It was a 100% cash transaction and closed after 172 days on the market on 8/12/2010. The lowest priced home to sell during the year was originally listed at $21,800 and sold for $21,800 or 100% SP/OLP%. The buyer paid 100% cash and the property sold after 4days on the market and closed on 2/24/2010.

During the month of December 2010, 157 single family homes were sold and closed in Lawrenceville. Priced ranged from $35,000 to $624,000.

SOLD Properties -- Condos / Town Homes
From January 1st 2010 through January 1st 2011 a total of 234 condo / town homes were sold in Lawrenceville. Priced ranged from $16,000 to $180,000.

During the month of December 2010, 18 condo/town homes were sold in Lawrenceville. Prices ranged from $26,500 to $160,000.

As you can clearly see, homes are selling in LAWRENCEVILLE.

Sara Hibbard is a licenced Realtor in the state of Georgia. Sara is available anytime to discuss your needs and wants in a home or answer your many questions regarding the Atlanta metro real estate market in general or specifics regarding the buying / selling process. Sara is easily reached at 770-399-8108 or e-mail her at sara@sarahibbard.com. Sara Hibbard is Glad Georgia Real Estate Is On Your Mind!