February 2021 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.

“Treasury rates have really been moving up since the election, but interest rates have been moving down…..we’re going to start to see mortgage rates drift up with treasury rates as opposed to moving in the opposite direction,” according to chief economist Michael Fratantoni

Experts say, based on price appreciation, that if you bought a home last month for $300K  your appreciation over the next 5 years could be equivalent to $54K.

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. 

Most of the homes I have found for my buyers have been off market. It’s definitely a market where it might be a quick sale for sellers but I am definitely hustling/working harder to find my buyers homes. I assure them that I will not leave them homeless. There are options out there.  We are still at an all time low in inventory across the nation. Sumner county had 1000 more homes to choose from this time last year.  Sellers- take advantage of this market….it will not last forever!

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.