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Gwinnett Homes Quarterly: Foreclosures, Pre-Foreclosures, and Market Sales through September

From June-September of 2012 Gwinnett County Homes received 6,340 preforeclosure notices compared to 1,041 foreclosures. Traditional market sales (non-distressed) are up though in a big way!

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." 

For more information on Dacula neighborhoods feel free to call Hank Bailey at (678) 252-9257, email to hankbailey@prudentialgeorgia.com or follow @PrudentialGARE on twitter.

Click here to view Dacula neighborhoods and MLS listings in each, and visit my new website www.hankbailey.prudentialgeorgia.com to create an advanced MLS search including foreclosures, short sales, new construction, and by schools! 

Want to see more on Dacula Schools including test scores, locations, parent reviews? Information on Dacula listings? Need information on Dacula Utilities and how to connect? Do you wonder what things to see and do in Dacula? View the New Movers Digital Magazine to find out more about Living in Dacula and experience the most unique digital magazine in existence!

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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