Something interesting is going on with residential real estate in Duluth (the one here in Georgia).Â Things are all doom&gloom all around the country in terms of resale values, # days on market for real estate listings, foreclosure rates and pretty much every other statistic you can measure.Â In fact, all around Gwinnett there are some rough numbers to report.
Yet, a quick look at our data overview page
on this site shows something very interesting.Â While prices have steadily declined in Buford, Lilburn, Dacula, Norcross, Lawrenceville - and everywhere else for that matter - average sales prices in Duluth have risen more significantly in the last year.This Duluth/Dacula chart measures the last 90 days:
I've added the data from Dacula on the chart for comparison.Â You can also see the previous 90 days for both Duluth (blue) and Dacula (orange).Â There's some radical differences here.Â In Dacula, the median price is on a downward trend - and it's jumped downward from the previous quarter.Â However, the Duluth data is on a rising trend ; it's risen above the previous quarter.
Here's the part where I'm supposed to act very knowledgeable&studious in order to shed some wisdom on this situation.Â Only one problem...Â I have no idea what's driving these numbers!Â That said, I do have some ideas that I'm researching now.
I'm spending time right now researching things just like this for an upcoming series of "State of the County" presentations about Gwinnett County real estate.Â Diamond Dwellings
will be involved with 3 of these town-hall style meetings in early February 2009.Â We'll present tons of great data & information about the local real estate market.You'll have 3 locations to choose from:Â Suwanee, Hamilton Mill & Chateau Elan
The data will be the same at all three sessions of the town hall, so you can come to any one of them and get a very solid overview of the Gwinnett County real estate market.
btw, we've got awesome weekly data reports on most of the cities in Gwinnett.Â You can sign up to receive them for free right here on GwinnettDwellings.com
We'd welcome your comments here.Â I've specifically got two questions for you:
#1.Â What do you think is happening with these Duluth real estate numbers?Â (especially if your a real estate or mortgage pro)
#2.Â What answers do you need about the market?Â (we'll answer them here if at all possible)Click here to comment on the original post.