There is a lot of news these days about how the housing market is falling. While it’s true that sales are down a bit, that is the headline designed to get you to stay tuned through the commercial and not really the whole story.
Pending sales are climbing and that is a leading indicator of the market. The chart here shows that trend and I am confident we are still in a good market over all.
Check out the stats for the last 6 months in Gwinnett county and we’ll see a slight increase in sales, inventory and a decrease in days on market. Our challenge is still in the price range under $250K with very low inventory making it hard to find a house if you’re a buyer. As a seller this is the prime time to be on the market and get the best deal possible due to limited competition.
|Current_Months_Supply||4.0||This number represents the number of months it would take to sell everything we have listed if no new property came on the market. We assume the market is balanced at 5-7 months of inventory. Based on this number we are in a sellers market on average but it varies by price range.|
|Number of Sales||3768||We sold this many in Gwinnett in the last 6 months.|
|Avg Day on Market||96||This number shows how many days a property was on the market from the list date to the contract date.|
|Avg Sales / List Price||98.0||Comparing list price to sales price, a number under 100 is showing a price under the list.|
|Units for Sale Now||2547||Total number of active properties on the market today.|
|Avg Active Day on Market||76||Average days since a property was listed that is still showing active.|
Here are the details broken down by price is you’re interested in that. If there is a specific area or county you want to know about please call me. I’ll get the info to you.
As school winds to an end (today is the last day for the kids) you may want to start getting ready for the market and if you need to move please call me and I’ll get you the pricing info you need. I am here to help.
Thanks for listening,
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