Gwinnett County Transactions
The following information is based on single family detached residential properties.
From June-September of 2012 Gwinnett County Homes received 6,340 preforeclosure notices compared to 1,041 foreclosures. These event types represent potentially negative pricing pressure on a given market as eventually these properties can migrate into either short sales or bank owned sales.
On the demand side of the equation, during this time period there were 4,412 total sales in Gwinnett County. It is important to note the difference in seller types that make up this data component. 1,607 sales were REO Sales (bank/government owned sales) while 2,805 sales were Market Sales, or qualified transactions where the seller was not a bank of government entity. This means that in Gwinnett County that less than 37 percent of all sales were bank or government owned sales. Compare this with October a year ago through January 2012 where more than half (56 percent) of all sales were bank/government owned.
Much of this has to do with decreased inventory levels. According to Georgia MLS, Dacula inventory over the past 6 months has dropped to 3.9 months. This is within a range to be considered a "Seller's Market."
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