Where's the inventory?

By
Real Estate Agent with Atlanta Communities 303302

While checking on local listings the other day, I came across an interesting fact. The local listings in the Towne Lake area of Woodstock Georgia are about HALF what they typically are. Not price, but quantity of homes listed on the market. People have been reluctant to place their homes on the market while the values of their homes have been so depressed.

What this means to local buyers is that the effectiveness of lowball pricing strategies are beginning to fade. Prices for those homes on the market should start firming up and, dare I say it, start to rise. All because there are many fewer than usual homes on the market. It's the old supply and demand thing.

If you are a Seller, this could bring hope to you that your home could sell for more and/or quicker than you believed. For the Buyers, you need to start looking diligently now, before the prices start inching upwards.

We shall see if this situation holds. I would think that if prices start an upward climb we will see more people who have been sitting on the fence jump back in and list their home. This could mean that this coming Spring could bring us increased inventory at higher values, a situation we have not seen in quite some time.

Posted by

Peter den Boer, Associate Broker, Realtor

Atlanta Communities Real estate Brokerage

 

Ph. 770.713.1545

www.denboerhomes.com

 

I write about daily life as a Realtor in the Towne Lake Community in Woodstock Georgia.

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Rainer
103,210
Tom Robinson
Keller Williams Realty Kingstowne/Alexandria, VA Office - Fairfax, VA
Experienced Real Estate, Professional Serving No. VA and DC

Peter,

 

just wrote a similar blog with some of the same thoughts. Great minds think alike.

Aug 18, 2011 01:18 AM #1
Rainmaker
307,958
Carol-Ann Palmieri
RE/MAX Executive Realty, Al and Cal Realty Group - Franklin, MA
"Cal" the Real Estate Gal

Hi Peter.  I do believe that you are right and many are waiting for the market to change before putting their home up for sale.  

Aug 18, 2011 01:19 AM #2
Rainmaker
683,301
Peter den Boer
Atlanta Communities - Woodstock, GA
MBA,GRI, Associate Broker, Realtor

Tom - Indeed!

Carol - I hope they stop waiting soon!

Aug 18, 2011 01:22 AM #3
Rainmaker
996,284
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Peter, we've experienced a 30% decline in inventory with negligible price increases anticipated.  Knowing that the possibility of that product again reaching the market will keep pricing soft for a while I believe. 

Aug 18, 2011 01:46 AM #4
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Rainmaker
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Peter den Boer

MBA,GRI, Associate Broker, Realtor
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