Demand for our area remains high, and it’s having a positive effect on prices.
Prices are continuing to rise. Last month in Sumner Co. our inventory went down not up. Agents are seeing a few less offers and more days on the market before receiving multiple offers. With schools in full swing more homeowners are settling in and realtors have seen a slight slow down in bidding wars.
Despite rising prices, homes continue to move fast.
We did see a slight slow down of multiple offers this past month. I am also noticing more homes with a price decrease lately on the MLS. Out of 384 homes that sold last month in Sumner Co only 57 homes sold under list price, that means that all the others sold at or ABOVE listing price. I’m here to tell you that the majority sold above, a few even 50K to 100K more.
Buyers are searching now, and we expect competition to stick around.
Buyers–HANG IN THERE, here’s why. 1.) Long term benefits outweigh the short term challenge. 2.)Today’s low interest rates will not last forever-rates predicted to increase in the early part of next year 3.) Experts agree that home prices are forecast to rise 4.) Homeownership improves quality of life 5.) Typically rent fluctuates about 1% from month to month but in May and June rent increased by 3.2% in some places according to realtor.com. Monthly rents are higher than the average mortgage. Save those recent stimulus checks given and ask me about setting you up with a lender that can get you going in the right direction with homeownership.
Real Estate Market Highlights: SUMNER COUNTY
|Single-Family Home Stats||2020 YTD||2021 YTD||2020 vs. 2021||Analysis|
|Homes for Sale||1231||538||↓68.1%||Slight decline in Inventory since June 2021 by about 100|
|Months Supply||3.7||1.3||↓ down
|Fewer homes on the market means new listings gain traction. We will remain a sellers market for at least the next 2+ years|
|Closed Sales||453||370||↓down 18.3%||We actually showed a decline in sales from last month but proof shows that homes sold for more than list price|
SimpliHOM Realty OFFICE: 855-856-9466
Website: AmberCarlson.Com Lic#306652