Low Real Estate Inventory Levels Means Great Time to Sell

Low real estate inventory can result in faster sale for homes that are priced right.

In case you were holding off listing your home until the busy spring market rolls around, think again. Now is a great time to take advantage of the low real estate inventory and put your house on the market for a quicker sale of your home than we have been seeing in the past because there are simply not enough homes available for buyers to choose from.

According to an article in Realty Times, Low Inventory Levels Sells Homes Quick, the national median time for a home to remain on the market is 69 days (July 2012). This is down nearly 30 percent from the 98 days seen in July 2011. The National Association of Realtors reports that homes have a median selling time of 6 weeks.

Compared to the national average, Georgia is faring well. In Georgia, we have low inventory and can sell homes better this year than last year. Here are some recent statistics from the Georgia Association of Realtors,

  • New Listings were down 17.7 %
  • Pending Sales increased 16.1 %
  • Inventory shrank 32.1 %
  • Prices turned higher as Median Sales Price was up 20.4 % to $115,000.
  • Days on Market decreased 15.0 % to 91 days, the twelfth consecutive month of year-over-year declines.
  • Months Supply of Inventory was down 40.4 % to 5.3 months, indicating that demand increased relative to supply.

House that are priced right tend to sell quickly. Your best opportunity to sell your home is within the first few weeks. Therefore, having the right sale price from the beginning can result in your home selling right away. To find out your home’s perfect selling price, contact The Premier Group for a free market analysis.

At The Premier Group  in Woodstock, GA, our experience ranges from consistently managing and closing shortsale and distressed properties to marketing and selling luxury homes. If you would like to sell your home or purchase a home, don’t hesitate to contact The Premier Group. We are dedicated to being the specialists you can turn to for all of your real estate needs.