It's true, the latest absorption report for Gwinnett County places the average home for sale as SOLD in just about 83 days or so.
The two toughest sectors of homes to sell are surprisingly the $120 to $140K range of homes for sale and the $200 to $300K homes. This data reinforces my claim that previous first time home buyers are stuck renting (as they had no business buying homes a few years ago) and that the relocation buyers are still stuck in their state trying to move their home (most common buyer of the $200K to $300K range).
Another disturbing trend is that Gwinnett County has over 2 years of inventory of homes priced $250K and above. YIKES!
So while homes are selling, many more sit on the market. The ones that do sell are in line with the regular selling cycle in the Atlanta Metro Area, the same cycle that has been alive for 5 plus years.
Basically, a smaller percentage of homes are selling, but the ones that do sell do so in the first 90 days.
The good news is that the percentage of homes that are selling has increased to almost 15% of the top homes in terms of value (where condition meets price).
You have to turn down listings regardless if you like it or not. I completely agree with Annie on that. I hope that when I am ready to list my house, it will sell in less than 90 days AND I won't have to come to the table with money. :)