Each year, most homeowners wait until the spring to sell their houses because they believe that they can get a better deal during the normal spring buyer’s market. However, recently released data suggests that the best deal may be from those ready to sell now. The concept of ‘supply & demand’ reveals that the best price for an item will be realized when the supply of that item is low and the demand for that item is high. Let’s see how this applies to the current residential real estate market in the Northeast Georgia area.
SUPPLY
It is no secret that the supply of homes for sale has been far below the number needed for over a year. A normal market requires six months of housing inventory to meet the demand. The latest report from the National Association of Realtors (NAR) revealed that there is currently only a 4.2-month supply. This is a national figure. Here in the Northeast rural area of Georgia it is much lower, There is currently only a 2.9-month supply. This number was obtained through Georgia MLS accounting for the Northeast Georgia Counties.
Supply is currently very low!! One very good reason to SELL NOW!
DEMAND
A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers out looking at homes) disclosed that there are more buyers right now than at any other time in the last twelve months. This includes more buyers looking at homes right now than at any time during last year’s spring market.
Demand is currently very high!! One more good reason to SELL NOW!
Bottom Line: Sell Now
Waiting until the spring to list your house for sale made sense in the past. This year is different. The best deal is probably available right now. Here in the Northeast Georgia area we find that those potential buyers out there during the winter months are serious buyers, not those who may be sitting on the fence about purchasing a home.
One more really great reason to SELL NOW!
If you are either a buyer or a seller, Contact Us Today . We can discuss your options and decide on the best solution for your situation.
