In Gwinnett, New Homes Outnumber Bank Owned and Short Sales Within Resale Inventory

As a whim, I thought I would look into GAMLS and see how many homes are for sale in Gwinnett right now that are bank owned or short sales and how does that compare to new home construction. The results amazed me!  For years we have seen 30-40% of the entire resale market be "distressed." You know, bank owned or short sales! Not today. Look at what I found;

There are more new homes than distressed properties, combined, in our market for sale right now. What's more impressive is that distressed sales only make up about 11% of the resale market as of Q1 2013. That is dramatic and is one of the reasons we are seeing the Gwinnett Market appreciating again and listings flying under contract so quickly! Depending on the range of time you are looking at we are lookin at 2.7-4 months of inventory. Said another way, inventory two years ago that was double digits in the number of months of housing supply is down to 75-90 days!

If you are looking for an agent to assist you in Buying or Selling a home, please take a look at my reviews and contact me to let me know what I need to be doing for you today! 

For more information please feel free to call Hank Bailey at (678) 252-9257, email to hankbailey@prudentialgeorgia.com or follow @PrudentialGARE on twitter.

Click here to view neighborhoods and MLS listings in each city in Gwinnett, and visit my new website www.hankbailey.prudentialgeorgia.com to create an advanced MLS search including foreclosures, short sales, new construction, and by schools! 

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