Source: NorthFulton.com

Forsyth County housing snapshot

by Bob Strader

April 28, 2014

Is it a buyerís market or a sellerís market?

When we have more than a six-month supply of homes, itís a buyerís market.

If we have a five-month supply or less, then itís a sellerís market. So technically, based on current inventory levels, it is a sellerís market.

But really, the market is a little funky right now.

The market has improved greatly over the past year. Comparing the first quarter of this year to Q1 of 2013, the median sales price has gone up 14 percent in Forsyth County. Not too shabby to say the least, but sales are flat. Flat is better, I guess, than being down 10 percent for the same period like North Fulton. But it begs the question Ė why arenít we seeing more sales, especially with low inventory?

Buyers donít seem to be pressed into pulling the trigger on properties like they were last year at this time. Last year was really the first time we started to see greatly reduced inventory and multiple offers. Buyers rushed to get what they could because we hadnít been in this position for years.

Now, with prices up an average of 14 percent in Forsyth County and 12 percent in North Fulton, I think buyers are being very critical of what they are paying for and, in many cases, opting to continue the search rather than settle. Sellers are, understandably, pushing the upper limits on asking prices. But if they push top asking prices without offering top condition, buyers are indicating that they will keep on looking.

BUS 04-30-14