Demand for our area remains high, and it’s having a positive effect on prices.
Average rate of appreciation for homes the last quarter hovered around 4.15%. Over the past YEAR we have had 16% appreciation in Tennessee. Rates will continue to increase over the next few quarters so do not delay if you are planning on moving soon.
Despite rising prices, homes continue to move fast!
Many analysts predicted homes prices to reduce dramatically but that is not the case. Price appreciation has slowed but has not declined as anticipated. Selma Hepp, Deputy Chief economist at Corelogic stated this, “After some signs of slowing home price growth….monthly price growth re-accelerated again, indicating that home buyers have not yet thrown in the towel.
Buyers are searching now, and we expect competition to stick around.
Multiple offers are still very much a thing and making the strongest offer is for the serious buyers no doubt. You MUST get in the game if you want a shot at winning the offer . As your Realtor I ask that you trust me. I’ve been writing offers in the crazy market for the past 2 years. I know what will win an offer and what will not.
If you’re thinking about buying or selling 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. We sold our 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 over the past 15 years to get the results they deserve so that they can move on to their next chapter with ease.
Real Estate Market Highlights: Sumner Co. January
|Single-Family Home Stats||2021 YTD||2022 YTD||2021 vs. 2022||Analysis|
|Average Sales Price||$370K||$478K||29.2%||Being up 16% appreciation has your home value up over $100K from this time last year.|
|New Listings||430||323||↓-24.9%||Lowest in home Inventory since 1999. That’s changing. COMING SOONS are around the corner|
|Price Per Sq. Foot||$164||$210||28%||Nashville is HOT….Newer, 2 bedroom condo’s downtown last month SOLD for an average of $301 a sq. foot|
SimpliHOM Realty OFFICE: 855-856-9466
Website: AmberCarlson.Com Lic#306652