Home buyers wait on value to pounce

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While inventory of homes will rise seasonally, we still have yet to see any substantial increase in the number of homes for sale in North Fulton and Forsyth County.

In fact, currently North Fulton inventory is down about 11 percent from this time last year and up only a modest 3 percent in Forsyth County.

The lower inventory is leading to lower unit sales.

Comparing February of this year to last, the number of home sales declined by 3.8 percent in North Fulton and 16.5 percent in Forsyth.

This is a telling statistic.

Buyers are waiting for what they like, and what they like is value.

Buyers will pay top price but only if the home offers what it should for top price.

Here is more proof: 30 percent of all homes sold in both North Fulton and Forsyth County last month went under contract in less than two weeks.

Those homes were in the right condition and were priced correctly.

Further, we know buyers will pay those prices because average sales prices are up 11 percent in Forsyth County over last February.

For the same period in North Fulton prices are flat, but we haven’t yet seen the jump in new construction in North Fulton that we have seen in Forsyth.

That is coming this spring.

With the rise in new construction, inventory buyers may be attracted to the “shiny and new” that builders offer.

But home sellers can compete with new construction by offering compelling features and good value.

Where a seller can compete with new construction well is lot size, finished basements, outdoor features, landscaping, staging and an established community.

Put all the pieces in place, offer that package and home buyers will come to you.

BUS 03-27-14