Demand for our area remains high, and it’s having a positive effect on prices.
It’s a sellers market but buyers and sellers need to be aware of the APPRAISAL GAP when offers are submitted. Many buyers are willing and able to pay above the appraised amount. Lenders have learned to reconfigure loans where it does not cost any extra for the buyer to be able to do that. That is giving buyers more of a negotiation edge when it comes to making offers. We have had to get real creative in this industry to win offers.
Despite rising prices, homes continue to move fast.
“There are many headlines out there that claim we’re reverting to a more normal real estate market. That would indicate the housing market is returning to the pre-pandemic numbers we saw from 2015-2019. But that’s not happening! The market is still extremely vibrant as demand is still strong even while housing supply is slowly returning.” –According to KCM news.
Buyers are searching now, and we expect competition to stick around.
Multiple offers are still a big struggle for buyers these days. I speak personally with my own clients. My buyers are not giving up. They understand the later they wait, the higher prices are going to get. And they want to take advantage of interest rates while at record lows……2.87%!
Real Estate Market Highlights: SUMNER COUNTY
|Single-Family Home Stats||2020 YTD||2021 YTD||2020 vs. 2021||Analysis(month2month)|
|Homes for Sale||1187||517||↓56.4%||Today, Sept. 3rd showed 239 active single family homes listed in Sumner Co. 224 in Davidson Co. and only 38&95 townhomes.|
|Months Supply||3.4||1.3||↓ down
|Anything under 3 months supply is a SELLERS market|
|Closed Sales||404||362||↓down 10.4%||345 single family homes Closed last month (August) in Sumner Co. Average Days on Market 9 days!|
SimpliHOM Realty OFFICE: 855-856-9466
Website: AmberCarlson.Com Lic#306652