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How long will it take to sell my house?

06/25/2019
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How Inventory Affects Home Sales

Inventory – Residential-Detached 

We currently have 14% more single family homes for sale than a year ago. As mentioned a few weeks ago, inventory impacts sales prices & selling time. Sellers in some price ranges are enjoying the benefits of less competition, some not so much. For example, months of inventory represents the time it would take to sell a house/absorption (if no other listings were added). Below 6-7 months of inventory represents a seller’s market; homes go under contract in a few days, sometimes with multiple offers & at close to or higher than list price. The reverse can be the case for price ranges with 7-8 months of inventory; up to a year or more to sell. Which also means keeping the house in perfect showing condition for months & months too (trust me, it’s not fun). Here’s a breakdown of housing supply by price range:

   Price Range

$100-$249,000                   1-2 months of inventory

$250-$449,000                   3-4 months of inventory

$450-$599,000                   5-6 months of inventory

$600-$699,000                   7 months of inventory

$700-$799,000                   8 months of inventory

$800-$899,000                   9 months of inventory

$900-$999,000                   10 months of inventory

$1MM-$2MM                    13 months of inventory

$2MM-$5MM                    24 months of inventory

$5MM+                            48 months of inventory

Of course, the absorption varies in different areas. Always happy to share more specifics for your neighborhood. All you have to do is ask. Can’t wait? Just follow this link for the answer: http://www.debbybraun.com/search_atlanta_mls_listings.asp

All the best,

Debby

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Atlanta Market Sales Prices

06/25/2019
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Atlanta Market

Average Sales Price

Residential-Detached

The First Multiple Listing System (FMLS) has just released the May numbers. More good news…..Sales prices in the Atlanta Market continue to rise! Average sales prices for both detached & attached homes are up 5% YTD vs. May 2018.  Low inventory, in most price ranges, continues to be a contributing factor.

However, inventory is increasing; 14% more single family homes are for sale this year than the same time last year. More homes on the market means more competition for sellers which can lead to longer selling time & lower price.  Did you know there is a direct relationship between length of time on market & price? The longer a listing is on the market, the lower the sales price. Therefore, understanding the inventory & other market factors is crucial to your sales success. Of course, an experienced Realtor©, like me, will be sure you’re well prepared with all the right market data.

Wondering about sales prices & inventory in your neighborhood? Always happy to answer all your questions, all you have to do is ask! Can’t wait? Just follow this link:

http://www.debbybraun.com/search_atlanta_mls_listings.asp

All the best,

Debby


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