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Business & Tech

Good Listings Scarce; Time To Sell in Suwanee?

Are we in a short term seller's market?

Over the last few weeks, the talk around the real estate community is the fact that inventory seems to be very low. It seems there is an abundance of buyers, but not enough good properties to satisfy them enough to make an offer.  Is this a short term seasonal thing, or is this the beginning of the market starting to show a little life?

Either way, if you were considering selling your house, now is probably the best opportunity there has been over the last five years. In fact, inventory across Gwinnett County is at an 11-year low. In fact, there are half as many homes on the market now as there were in June of last year. In Suwanee, there are currently only 335 homes for sale,  Additionally, Suwanee currently has 182 homes PENDING (that’s a 54% ratio).

So what does all this mean? Have we reached the bottom of the market? Will prices start to go up? No one knows for sure, but if you need or want to sell your house, conditions are starting to look a bit more in the favor of the seller. Don’t get me wrong … prices are not going to bounce all the way back to our 2006 levels, but we may see a small bounce this spring. For some this bounce may be just enough to get your house sold. A house still must be priced competitively, but supply and demand at his moment favors the seller. There are still foreclosures and short sales to compete against, but many of those homes need a lot of work. If your house is in move in ready condition, buyer may be willing to pay for that quality.

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So, if you have been considering selling your home, call a realtor and quickly get your home listed. If this is a short term bounce, take advantage now. After the spring-summer rush, we may see inventory rise once again. If you or anyone you know is considering selling, I would be happy to have a free consultation and provide a Market Analysis. Good Luck and Good Selling.

Call Scott Lacy, email him at scottlacy@kw.com or follow @ScottTheRealtor on twitter.

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