Business & Tech
Year-To-Date Real Estate Update for Peachtree Corners and Berkeley Lake
A quick comparison of home sales in 2011 vs 2010 as well as a report on foreclosure properties in the area.
With the Fourth of July on Monday, there were no Realtors reporting Open Houses on Sunday. This is the perfect time to catch up on market conditions in Peachtree Corners and Berkeley Lake. Despite the not-so-positive news, a home that is in good condition and is priced right will sell in any market.
The number of homes currently on the market in Peachtree Corners is 143. Sixty-five homes were sold as of June 28, 2011. There is currently a 13-month supply of homes for sale in Peachtree Corners. This assumes no change in the market.
Peachtree Corners has seen a drop in the number of sales over the past year. In the first half of 2010 there were 82 home sales compared to 65 home sales for the same period in 2011. That represents a drop of 21 percent in the number of homes sold.
In the ZIP Code 30092 portion of Peachtree Corners there are 103 homes listed in some stage foreclosure as reported by Gwinnett tax records.
The City of Berkeley Lake has 18 homes on the market. Eleven homes sold year-to-date and seven of the homes sold were listed as bank owned.
In Berkeley Lake there are 12 homes either scheduled for auction or are bank owned properties.
A broader look at the market in Gwinnett:
- May 2011, 562 homes sold with an average price of $145,000
- May 2010, 619 homes sold with an average price of $161,000
This represents 10 percent decline in home values since Jan 1, 2011.