March 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.

Usually this is the time of year we see an increase in homes from Jan. to Feb. but here in Sumner Co, mid February, we had a snow storm that came through and stopped everyone and everything for about a week, including real estate. Availability  and new listings actually dropped from Jan. to Feb. by about 100 homes.  Warmer weather is on the horizon so we should see a rebound.

Is it a good time to buy now? Will interest rates rise by the end of the year? Experts say that if you can answer “yes” to both of those questions then it is definitely a good time to buy now…..or it will cost you–about $20K in fact, if you decide to wait.

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.

The bright spot for buyers is that more homes are going to be available the last six months of 2021, according to realtor.com. Chief economics Mark Fleming says, “ Despite the intention of home builders to supply more homes, the big short will continue to the end of 2021 and will likely keep house prices flying high.”

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. 

With multiple offers on the table sellers are going for more cash offers, no to low contingencies which are leaving the first time home buyers with FHA and USDA loans practically out of the race. Their best bet….new construction if they want to get into  a new home this year!

 

If you’re thinking about selling your home in the next 12 months, now is the time to get a plan in place.

I understand the financial and logistical complexity of this move. I myself sold a home with twin toddlers, so I know firsthand how important it is to have a trusted partner to help manage the details while you stay focused on keeping your daily life on the rails.

That’s why I’ve made it my mission to provide my clients with the knowledge and tools needed to prepare themselves for this transition.

And thanks to a proven process that works, I’ve had the pleasure of helping 100’s of clients get the results they deserve so that they can move on to their next chapter with ease.

 

Call me today for your Initial Consultation 🡺 615-438-8728

We will cover your goals and my aggressive approach to getting you the highest possible price in the fewest days on market. If it feels like a fit, we’ll discuss the next steps from there.

 

Call today  615-438-8728 

 

To your success,

 

Amber Carlson

License # 306652

SimpliHOM Realty

https://ambercarlson.simplihom.com

Amber@AmberCarlson.Com

615-438-8728

Sumner County Market Highlights:

 

Single-Family Home Stats  2020 YTD 2021 YTD 2020 vs. 2021 Analysis
Average Sale Price $346,000 $398,000 up 15.9% With prices on the rise, it’s critical to price your home correctly from the very beginning to generate strong offers.
Average Days on Market 73 59 down 19.2% Average days from Active to under contract is still low….22 days. This stat. includes new construction.
Months Supply 4.2 1.3 down

69%

Fewer homes on the market means new listings gain traction. Anything under 3-5 months supply remains a sellers market!
Average Price per Square Foot $145 $162 up 11.7% Thinking of building? Lumber has caused new construction to raise prices frequently. And it’s taking longer to build….6 months min.