2024-2025
Sugarloaf Country Club Real Estate Report
2024 - 2025 Edition
Published January 2025
Floyd Real Estate Group | FloydREGroup.com
Mary Floyd | Mary.Floyd@Compass.com | 404.312.3837
Tony Floyd | Tony.Floyd@Compass.com | 404.406.7819
2024 Year in Review
2023 was the lowest number of closings in Sugarloaf Country Club history with only 37 closings. We expected 2024 to start slow and then accelerate in the second half with lower mortgage rates fueling demand. As we now know, mortgage rates remained stubbornly high even with several rate reductions by the Fed. We ended the year in 2024 with 43 closings – the 3rd lowest in Sugarloaf history. 2021 was the best year with 81 closings followed closely by 2006 and 2010 with 70 closings. 2006 was the peak of Metro Atlanta real estate sales and 2010 was the height of foreclosures during the real estate recession.
The average listing inventory tripled from last year! We went from averaging 5 listings per month in 2023 to 15 in 2024. This is still down considerably from the pre-Covid average of 4050 listings. The “days on market” for closed listings was 34 days compared to 58 days last year. This is well below the pre-Covid average of 190 days! The average days on market for active listings was 94 days which shows that some listings were very outdated or priced too high.
Now, let’s look at how Sugarloaf Country Club home values performed in 2024. The historically low inventory helped home values remain strong. The chart below shows “average $ per square foot” which is the most common approach to measuring home values. The average $ per square foot in 2024 was $242 – up 6.7% from 2023. Compared to pre-Covid, our home values are up 69%!
Another factor to consider is the distribution of the types and price ranges of the properties sold. See the charts on the following pages showing the distribution of closed home prices by month for 2023 versus 2022. In 2024, we had more high-end sales over $2 million and the highest sale ever closed in Sugarloaf at $6 million. The lowest closing was $1.24 million versus $1,050,000 last year. As we predicted in our 2023 report, we do not expect to see any more homes sold under $1 mil in Sugarloaf. In 2021, there were 13 sales under $1 million and only 1 in 2022. The highest $ per square foot in 2024 was 2233 Grady Ridge Trail at $462. If you exclude this unique sale, the average $ per square foot for Sugarloaf CC is $236. The lowest in 2024 was 3308 Bagley Passage at $136. Homes that were updated, in great condition and had desirable floor plans sold faster and for higher values. The List Price to Sale Price Ratio was 93% in 2024 which is similar to pre-Covid levels. 18 homes were priced to the market and sold at or above their list price. These homes also sold faster and for high $ per square feet.
FEATURED UNDER CONTRACT LISTING
2200 Lockett Court - $2,999,000
Sellers Represented by Floyd Real Estate Group/ Compass
Exceptional 2.17 acre estate built on 2 premium cul-de-sac lots with amazing outdoor amenities including versatile sport court, largest resort pool in Sugarloaf (with diving board), paver pool deck, separate stone patio with spa, outdoor fireplace, grilling deck, 2 screened porches plus large lawn space for play or private events. The sport court could be converted to a pickleball court! Hardwood floors on all levels, huge rooms, high ceilings. Massive primary suite upstairs with separate sitting room, incredible master bath spa with enormous his/ her closets and laundry room. Gourmet kitchen, large walk-in pantry, family room, study and office, enclosed sun porch, over-sized dining room, finished terrace with pub bar, pool table area, card room, home theater, exercise room, bedroom suite and indoor football/soccer room. Circular driveway, 4 car garage, whole house surge protection, water leak defense system, fiber to the home for high-speed internet, HVAC systems and water heaters updated, pool equipment updated, home theater equipment updated and more! There is only one HOA fee since the double lots were grandfathered as one super lot. This is truly one of the marquee homes in Sugarloaf Country Club that cannot be reproduced.
Fun Fact:
What Sugarloaf home features an indoor football/ soccer field plus the largest pool in Sugarloaf?
Answer: You guessed it! 2200 Lockett Court
FEATURED SOLD LISTING
2233 Grady Ridge Trail - $6,000,000
The true marque estate for Sugarloaf Country Club. Located on 3 premium lots offering stunning views of lake & Tournament Players Club 10th and 11th golf greens. Finest, high quality finishes include imported wood, marble floors, posh lighting, grand staircase, and barrel, trey, & coffered ceilings. Elevator, 2 story wood paneled study, separate full apartment, 5 car garage, & large theater rivaling public cinemas. Top of the line wine cellar holds thousands of bottles of wine and has a private tasting room with decorative iron door. Four kitchens! Grand owner's suite with fireplace, spacious den, & spa-like bath plus laundry room located in master closet. Celebrity-style outdoor entertaining at huge stone cabana featuring Argentine grill, full kitchen, outdoor flat screen TVs, 2 half baths, heating/ac, waterfall, firepit, & motorized screens. Large sparkling blue pool and spa surrounded by exquisite landscape. Private well for irrigation and waterfall. New HVAC systems, new water heaters, updated roof. Private cul-de-sac. Over 13,000 square feet. 3 acres. Full home renovations recently completed. This is truly a one-ofa-kind private estate with the best lot in Sugarloaf Country Club!
Answer: You guessed it! 2233 Grady Ridge Trail
2024 Sold Homes for Sugarloaf Country Club
Sellers Represented by Floyd Real Estate Group/ Compass
2024/ 2025 Under Contract Listings for Sugarloaf Country Club
There were no pending sales going into 2025. In January, we have 3 properties under contract.
2024 Sold Lots for Sugarloaf Country Club
There was 1 lot sale in 2024. 2321 Glen Mary Place is a smaller and unique lot – thus the lower price. There is currently 1 lot listed for $775,000. There are approximately 10 lots remaining in Sugarloaf Country Club with 5 other possibilities if the owners choose not to build. We expect lot prices to be in the $650,000 to $1 million+ range depending on the size and location. We also have 2 new premium lots that will be coming in early 2025. Contact us for details!
We can pay for the cost of preparing your home to sell with no interest!
COMPASS Concierge fronts the cost of home improvement services with no interest. Concierge is the hassle-free way to sell your home faster and for a higher price! To get funds directly in your hands, COMPASS has partnered with Notable, an independent lender to provide Concierge Capital, an interest-free loan.
COMMON USE CASES:
Staging & Decor
Appliances
Flooring
Kitchen and bathroom updates
Light fixtures
Landscaping
Painting
Inspection Items
De-cluttering
Moving & Storage and more!
“Buyers want homes that are updated and in great condition. If the home is not updated and needs a lot of work, buyers will offer significantly lower prices. The most common areas of focus are kitchens, bathrooms, flooring, windows, outdoor living, HVAC systems, water heaters and roofing. COMPASS Concierge can provide an easy solution that will help you get the highest value and sell faster!”
What Is Ahead In 2025?
Sugarloaf Country Club Real Estate in 2025
Now, let’s explore the major trends nationally and locally for 2025. Then, we will make our predictions for Sugarloaf Country Club real estate.
National home sales were significantly down from peak levels in 2021 and 2022. We expect to end 2024 around 4 million existing homes sold. Most analysts predict a slight increase to around 4.4 – 4.5 million in 2025. Home builders are building faster but have a long way to go to recover the estimated 4 million under supply of homes nationally and 40,000+ in metro Atlanta
Inventory: Home values are impacted mostly by supply and demand. See the national chart below. Inventory is increasing from the incredibly low levels of 2021 and 2022. However, the current levels remain dramatically lower than more normal levels prior to Covid. The U.S. is still lacking over 4 million homes to fulfill our housing demand. In Sugarloaf Country Club, our inventory levels reflect a similar pattern. Prior to Covid, we had 40-50 listings per month. In 2021 and 2022, we averaged 5 listings. In 2024, we averaged 15 listings. We are going into 2025 with a continuation of historically low inventory – only 14 homes for sale. We expect to see 15-20 listings on average in 2025.
Mortgage Rates: 38% of Sugarloaf Buyers paid cash in 2024. That means that 62% used a mortgage loan. Even cash Buyers are somewhat influenced by the factors controlling mortgage rates. Rates are currently in mid to high 6% range. This will keep Buyer demand more moderate. We expect mortgage rates to get into the low 6%/ high 5% range. If rates move lower into the low to mid 5% range, Buyer demand will dramatically increase. Also, more Sellers will be willing to give up their very low mortgage rates to buy another home. We will be watching mortgage rates closely as this will be THE major factor impacting the 2025 real estate market!
National Debt: The national debt will continue to have an impact on mortgage rates. This is one of the major reasons that mortgage rates remain high even though the Fed has lowered the federal funds rate. Our national debt currently exceeds $35 trillion. That is crazy! Hopefully the new administration with the help of DOGE (Department of Government Efficiency) led by Elon Musk and Vivek Ramaswamy will have a positive impact here.
Inflation: Inflation is another major factor impacting mortgage rates. The Fed target is 2% and we are not there yet. It is likely that inflation will remain above the 2% range. New policies from the Trump administration will take time to have an effect. We will be watching inflation closely.
*Data Source: U.S. Bureau of Labor Statistics: All items in U.S. city average, all urban consumers, not seasonally adjusted.
Watching the Fed: The federal funds rate still has an impact on mortgage rates. Though this has not been the case in late 2024, the Fed has historically influenced mortgage rates. Chairman Powell is forecasting 2 additional rate cuts in 2025. The strength of the economy, employment and inflation will be watched closely by the Fed to make those rate cut decisions.
If we look back, mortgages rates of 6% are below the historical average of 8%. We were spoiled with mortgage rates in the 3-4% range and those are not likely to return. How many remember the early 80s with mortgage rates of 16%-18%? People still bought homes. Owners wrote off the mortgage interest on their taxes and still made positive gains on real estate!
Home Values: U.S. home values have risen dramatically over time. Sugarloaf Country Club values increased 6.9% in 2024 and 69% from pre-Covid levels! Home values are driven by supply and demand. As discussed, we expect the supply (inventory) to be around 15-20 homes per month. If mortgage rates remain in the 6% range, this should produce enough demand for a balanced market in 2025. If mortgage rates dip into the 5% range, demand will accelerate and Sellers will benefit. Another factor to consider is the concept of “desirable inventory.” Most Buyers want homes that are updated and move-in ready. Most Sugarloaf homes are now 20-25 years old and not updated. Preparing your home to sell is critically important. Homes that are updated and feature more desirable attributes will sell quickly and for higher values.
Nationally, home values are expected to rise around 3.5% to 4%. Many markets are seeing rising inventory. Some markets (i.e. Austin, Florida) where values escalated dramatically are seeing the advantage swing back to Buyers as days on market rise and Sellers have to become more competitive.
Sellers On The Move: There will always be the normal reasons why people sell their homes. In 2020 and 2021, we saw many Sugarloaf homeowners sell to take advantage of the rise in home values. This initial wave was primarily people who already had second homes or had a specific place to go. Once this group was gone, we were back to the normal moving cycles. We also had many Sugarloaf homeowners who wanted to sell but have a very low mortgage rate that they are hesitant to give up. Others simply cannot find the right home to move. This is why the inventory has been so low. As we go into 2025, there is significant “pent up demand” for Sellers that will begin to move forward if the conditions improve
NAR reports the following highlights for Sellers in 2024:
• The average age of Sellers was 63 – the highest ever recorded
• 69% were married – up from 65% in 2023
• The #1 reason for selling was to be closer to family and friends
• Owners stayed in their home an average of 10 years – up from 6 years in the early 2000s
• The average age of Buyers set another record at 56 – up from 49 in 2023.
• First time Buyers increased to 38 – up from 35 in 2023. The average age was around 25 in Metro Atlanta back in the early 2000s.
More Buyers Are Coming: Georgia ranks #1 again as the top states to do business by several site selection magazines and Metro Atlanta continues to rank as one of the top metro areas to live and work. Realtor.com recently released their predictions for Top Housing Markets for 2025. Atlanta was ranked #9 and the only major metro on the list. Moody’s Analytics predicts that Metro Atlanta is the #7 metro for in-migration over the next 5 years.
Foreclosures and Short Sales: Sugarloaf Country Club had only one foreclosure sale in 2024. Analysts do not expect a major surge of foreclosures and short sales in 2025. Yes, we should have all bought more real estate back in 2008-2012!
Home Equity At All-Time High:
According to the Census Bureau, nearly 40% of Americans do not have a mortgage. 38% of Buyers coming to Sugarloaf also paid cash in 2024. Since Covid, Sugarloaf homes values have increased 69%! This is based on the average $ per square foot from 2020 to 2024. The result - home equity for Sugarloaf homeowners is at an all-time high. Yes, this is “paper money” unless you sell or leverage a home equity loan. However, it sure feels good! Remember the great real estate recession, those equity losses were also “paper money” but that did not feel very good!
Gwinnett County Property Taxes: The good news is our home values are up. The bad news is our property taxes are also up. Property taxes account for around one third of all Gwinnett County revenues so it gets a lot of attention. Gwinnett County is seeing record property tax revenues but government is not very good at returning surpluses to the tax payers. With all this new money, what did the Gwinnett County Commission do? They raised our mill rate in 2024!
Fortunately the state is helping with HB-581 which limits the increases counties can increase property taxes. At least we are not in Fulton County with the highest property taxes in Georgia and arguably the worst services being provided. Here are a few reminders where you may be able to save some money on your property taxes.
• SR1 Regular Homestead Exemption – Available in the first full year after you purchase a property. You must apply prior to April 1st of the first year after purchase. Once you obtain the exemption, you do not need to renew.
• L5A Senior School Exemption – Seniors age 65 and older prior to 1/1/25 can eliminate the school portion of your property tax which is approximately 60%. The income limit is $121,432 in 2025. Note: You only have to qualify once. Some owners have been creative about structuring their income and the person on the deed to obtain this exemption.
• Solid Waste Discount – This is a small exemption available for taxpayers over age 62. No income limit.
Top 5 Predictions for Sugarloaf Country Club Real Estate
The last few years have been outstanding years for Sellers in Sugarloaf Country Club. Covid brought us a strong Seller’s market. Last year had fewer closings but values still increased. As we look at 2025, we expect slightly more inventory.
The 2025 listed inventory will be slightly higher than 2024 but not return to pre-pandemic levels. We averaged 5 listings in 2021-2023 and reached an average of 15 in 2024. Normal monthly listings were in the 30-40 range prior to the pandemic. This spring, we expect to see 15-20 listings per month. Until mortgage rates drop further, we could see very low inventory. There are always reasons why people move – closer to family, marriage, job changes, first time buyers, move-ups, downsizing, divorce, death and more!
We predict that there will be approximately 45-50 homes closed in 2025. Last year, we predicted 45 closings and we ended up with 43. The higher mortgage rates kept some Buyers on the sideline later in the year. In 2025, many Buyers will continue to struggle to find their desired homes. Most Buyers want homes that are more modern and updated. The inventory for those types of homes is very limited. Other Buyers will be restrained by high mortgage rates. Higher home prices will eliminate many Buyers in the lower end. We do not expect to see any more homes sold under $1.2 million. If mortgage rates fall faster, we will see more closings. If mortgage rates fall slower, we will see fewer closings.
Fun Fact:
What years had the most and least number of closings in Sugarloaf Country Club? Answers: 2020 – 81 Closings, 2023 - 37 Closings
Older homes that are not well-maintained will take longer to sell and get lower prices. Sugarloaf began in 1996. The average “year built” for homes sold in 2024 was 2002. Many listed properties are now over 20 years old. Buyers looking at resales are fearful that older homes will cost them significant money to repair and maintain. Common repair issues are wood rot, older or stained roofs, older HVAC systems, older water heaters, decks in need of repair, older gutters, downspouts that are clogged or not directing water away from the house, fogged windows, cracks in the concrete and more. Sellers are wise to make repairs prior to listing their homes. Inspectors will find these issues anyway. You will either need to make the repairs or pay money toward closing costs. It costs far less to repair issues prior to listing. You will get a higher value when your home is move-in ready. Our Compass Concierge program can provide interest-free financing to cover these types of costs. We also have proven vendors that we can recommend to make the process easier for our clients.
“Not So Fun” Fact: Did you know that there have been major changes to the insurance industry for replacing roofs?
Answer: Most insurance companies will now exclude roofs that are older than 15 years!
Ultra-luxury homes will remain popular in 2025. We have some incredible ultra high-end homes in Sugarloaf Country Club. There are many beautiful homes over 10,000 square feet and 4 have over 20,000 square feet. Some have unique locations that cannot be reproduced and some are very private. These homes have been in high demand during the past few years with high-net-worth Buyers. We expect to see great interest for these types of properties in 2025.
Fun Fact:
What were the most expensive resale homes sold in Sugarloaf Country Club?
$6,000,000 – 2233 Grady Ridge Trail, 2024
$4,000,000 – 2453 Delbarton Place, 2020
$3,750,000 – 2788 Grey Moss Pass, 2023
*Does not include some new construction homes
Homes that are updated with more modern interiors will sell faster and for the most money in 2025. We interact with Sugarloaf Buyers every day. We understand what they are looking for and the struggles they face to find the right properties. The majority of Sugarloaf Buyers are looking for more modern interiors versus traditional interiors. Buyers are calculating the cost to update kitchens, update bathrooms, remove moldings & columns, refinish floors, change carpets to hardwood floors, update light fixtures and more. Their offers will reflect lower prices to offset these costs and the hassle of renovations That said, there are some Buyers who still prefer a more classic interior – there are simply fewer of these Buyers. Staging is a great option to give a traditional home a more modern/ transitional look and can be far less costly than a major renovation. We have excellent staging partners and this has made a significant difference for our clients.
Floyd Real Estate Group is Ranked #1 in 2024 for All Categories:
• Selling the Highest Number of Sugarloaf Homes!
• Selling The Highest Volume for Sugarloaf Homes!
• Selling The Highest Values For Sugarloaf Homes!
THE COMPASS ADVANTAGE!
Floyd Real Estate Group is proud to be affiliated with COMPASS, the largest real estate brokerage in the industry. COMPASS is #1 or #2 in over 40 major markets. We had the opportunity to affiliate with any brokerage and chose COMPASS to deliver more advantages for our clients. COMPASS has the industry’s largest network of over 30,000 productive agents representing celebrities and high-net-worth clients across the country. Here are just a few examples:
COMPASS Agents Have Closed Over $1 Trillion in Real Estate
Elon Musk
$31,999,000
P!NK $14,995,000
Renee Zellweger $5,999,999
Ariana Grande $14,000,000
Camila Cabello $3,950,000
Sugar Ray Leonard $46,500,000
Madonna $31,750,000
Paris Hilton $8,400,000
Jerry Seinfeld $14,950,000
M A RY F L O Y D
Mary Floyd has been a licensed REALTOR® since 2005 and has consistently been one of the top luxury agents in North Atlanta. Mary is a Certified Relocation Specialist, Short Sale/ Foreclosure Specialist, Certified International Property Specialist and has earned many performance awards including Chairman’s Circle, Legend Award, Master’s Club, NAMAR Top Producer, Phoenix Award and Best of Gwinnett. With a passion for service, Mary places the highest value on building trusted relationships and achieving exceptional results for clients.
T O N Y F L O Y D
Tony Floyd served 14 years as Chief Marketing and Innovation Officer for a global real estate brokerage. He is considered one the leading property marketing and real estate technology experts in the real estate industry and pioneered numerous innovations that delivered better value for clients. Prior to real estate, Tony led sales and marketing organizations for respected companies including IBM, Fujitsu, Trilogy Software and BellSouth eBusiness. No other real estate agent or team has this level of expertise to assist clients in selling, buying and investing.
COMPASS CARES
COMPASS Cares contributes funds and skillsbased volunteering to local organizations, with 100% of real estate transactions resulting in a donation to the community.
Floyd Real Estate Group is a proud supporter of the Women’s Club of Sugarloaf Country Club Charities including Duluth Co-Op, Mosaic Georgia, Home of Hope, Rainbow Village and the Special Needs School of Gwinnett. We also support the Knox Martin Foundation.
We were honored that COMPASS has made substantial donations to Rainbow Village on our behalf. Mary Floyd also serves as the sponsor for Rainbow Village with the Women’s Club Charities resulting in substantial donations. Rainbow Village is a wonderful organization here in Duluth that supports homeless families and helps give them a path forward in life. Giving back and being involved in our community is an important aspect of our lives.
2025 Is Going To Be An Exciting Year!
COMPASS ATLANTA
Buckhead Office: 3107 Peachtree Road NE, Suite A-1, Atlanta GA 30305
Intown Office: 1409 Peachtree St NE, Atlanta, GA 30309
Cobb Office: 4901 Olde Towne Parkway, Suite 301-S, Marietta GA 30068
North Atlanta Office: 2475 Northwinds Parkway, Suite 300, Alpharetta GA 30009
m. 404.312.3837 o. 404.668.6621
@compass.com
