debbysdishaboutatlantarealestate

How long will it take to sell my house? | 06/25/2019

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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