Despite the cooler weather, demand for Gwinnett real estate is staying hot. Comparing October 2011 to October 2012, contracts increased 28.4% in Gwinnett. It’s not unusual for our market to cool off in the fall, as the peak buying and selling season is typically early Spring to mid to late Summer. However, 2012 started strong and has remained so throughout the year. To date, each month of 2012 has outperformed those months of 2011. This really shows in our steady decline of available inventory and recent increase in average sale price.
It’s no secret that Gwinnett was hit incredibly hard by the housing collapse. Prices went on a horrific free fall for a number of years. Now, what appears to have started out with the “Black Friday” effect of people trying to get in on the incredibly low priced “door-buster” specials on so many of the properties, now seems to be carrying over to the more traditional real estate transactions. These gains in demands, previously felt primarily by the lowest price points are beginning to creep into some of the higher price points, as well. Seeing this kind of activity hold so late into the year makes me very hopeful for 2013.
Remember, real estate is very local. Get to know your area. If you’re looking for more detailed information on your area, I’ll be happy to help. I can provide analysis for most any zip code or high school cluster area in Gwinnett and surrounding areas.