Suwanee was affected less by the recent real estate downturn than Gwinnett or the nation as a whole. That continued through 2012, according to city figures.
In 4Q of 2012, Gwinnett County had 3,674 foreclosure filings, or an average of 1,225 per month. However, just 1 percent, or 39 foreclosed properties, were located in the Suwanee city limits, according to Suwanee figures.
The effect was felt in neighborhoods throughout the city. Suwanee Station had the highest number of foreclosure filings with 5, followed by Avonlea Crossing (4) and Ruby Forest (3).
In other residential real estate note:
- Three Bridges has the most unoccupied units (152 of a total of 293). Next is Highland Station (60 of a total of 105).
- In the past 12 months, more building permits were issued in McGinnis Reserve (34), with Suwanee Station second (30). The city issued 115 building permits for 2012, the most in recent years.
As previously noted, Atlanta area home values increased by 4.27 percentage points from August to November 2012, according to S&P/Case Shiller. Atlanta's increase was the fourth largest by percentage in the U.S., behind San Diego, San Francisco and Las Vegas.
-- Do you think real estate has "bottomed out" in Suwanee and Gwinnett? Share your thoughts in the comments below.