It may be a dry summer for home inventory

Posted:

School is out.

It may not officially be summer but, for those of us parents, summer has arrived with the sounds of, “I’m bored.”

It’s also the time of year that most people who move into the area or between school districts want their home sale and purchase to take place.

Getting the children out of one school and into the next before registration and sports start up is key.

Two things need to happen in order for this to occur; selling your current home and finding your next. The problem, however, is tight inventory.

At least, for most price ranges.

In North Fulton, if you’re priced under $450,000, inventory is very tight.

Which means — if you’re not getting offers, then you have other challenges.

From $450,000 to $700,000, it’s a more balanced market. Homes priced over $800,000 are when things get softer. There is about 12 months of inventory for homes priced from $800,000 to $1 million. Between $1 million and $2 million, it’s more like a year and a half of inventory.

Traditionally, home inventory would climb until July and then slowly decline until next January.

But over the past few years, inventory has traditionally peaked in May.

If this year is no different, then we could be looking at a hot, dry summer.

Hot competition and few homes to fight over.