How does the Gwinnett Real Estate market compare to the National Association of REALTORS (NAR) market update, shown in this picture? The national statistics, compared to the same time last year, are”
Let’s take a closer look as to what’s happening in the Gwinnett Real Estate Market for May and what it means to you, whether you are looking to buy or sell.
The housing inventory is at record lows. There has been year over year declines every month over the last 12 months with an average decline of almost 12% down from the previous year. This results in a Seller’s Market making it easier to sell than to buy!
You can also expect your home to sell at top dollar. Because of the low supply and high demand, prices are continuing to head up. Average sales price of $255,237 is up 8.2% from last year.
Days on Market
Average Days on Market, is 48 days. That is down 12% from last year.
The good news for buyers is that interest rates are relatively stable. So, even though it may take longer to buy, it won’t have much of an impact on your purchasing power.
Any questions? I’d love to hear from you.