November 2020 Sumner County Market Report

Ready to maximize the equity in your Sumner County home and move up to your dream home, but not sure where to begin?

 

If you’re like most people, this is one of your largest financial assets, so you want to make sure that you’re getting the highest possible price when it’s time to sell. 

 

This requires an understanding of our local market and where your home fits into the landscape. As you consider making a change, here are the top things you should know:

 

Demand for our area remains high, and it’s having a positive effect on prices.

 

Showing activity remains higher than the same period a year ago across most of the country, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year.  Inventory of homes dropped 58% from last year leaving our homes supply very low.

 

In order to capitalize on this growth, homeowners should prioritize strategic pricing and marketing from the very beginning. Improper pricing or lackluster marketing can cost both time and money.

 

Despite rising prices, homes continue to move fast.

 

New listings compared to this time last year is down 27% leaving us only roughly 2 months of inventory to choose from.  That’s down 71% from this time last year for Sumner Co. (Hendersonville/ Gallatin) High demand with low inventory continues to send home prices and appreciation up, up, up.  Median days on market in Sumner Co is 83 days around this time of year and includes new construction. 

 

The last thing you want is for your listing to linger on the market for too long due to under-preparation or mispricing. Even in a strong sellers’ market, having a proven approach is critical to achieving the results you deserve in a timely manner. 

 

Buyers are searching now, and we expect competition to stick around.  

 

Buyers are ready, willing and able to buy now! With the more relocation buyers moving into the area buyers are ready to make above asking price offers on the right home, making this an excellent time for new homes to hit the market. With my strategic listing preparation and