I used to work for a company that had a lot of inventory. We hated counting it. There were weekends spent just before taxes were due that we had to stop what we were doing and count EVERYTHING. We all hated it.
Inventory counting now is different for me. We talk about Months of Inventory. The magic number is 6 months of inventory. If we did not get another house on the market, how long would it take to sell what we have based on the current rate of closings. 6 months is considered a balanced market. Buyer nor sellers have an advantage based on inventory in that type of market.
Today inventory is falling. When I look at Gwinnett County today we have 5.9 months of inventory. In the lower end of the price ranges we have less than 5 months worth. Check out the snapshot:
My point in this is to tell you that the local story is not as bleak as you might think. We are selling homes at a fast pace so the good homes that are well priced are becoming scarce. In fact, I am looking for sellers that need to sell and have been waiting for the market to improve. I know the prices are still low but buyers are out there in high numbers and getting good houses on the market is key to making them happy.
If you need to sell and have questions about next steps in this market, please call me. 678-231-1578 is my cell phone number and I will do all I can to answer your questions.
Thanks for listening,
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