May 2021 Sumner County Market Report

Ready to maximize the equity in your 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.

 

Chief economist of Realtor.com states that surveys showed seller confidence continued to rise in April with more citizens getting the vaccination. We are not seeing an end to the sellers market any time soon but at least with more homes predicted to be listed in the next 12 months the intensity of competition will diminish as buyers have more options to choose from. Hallelujah!!

 

Despite rising prices, homes continue to move fast.

 

The question I get at least a few times a week. Where is the housing market headed?

According to Realtor.com .…”homes in 2020 sold slower in the spring and fastest in September and October.  While we expect fall to be competitive, this year’s seasonal pattern is likely to be more normal, with homes selling fastest from roughly now until mid summer.”

 

Buyers are searching now, and we expect competition to stick around. 

 

Freddie Mac forecasts the following….”mortgage rates will continue to rise throughout the end of next year.” This is not new news, we’ve been told this for months. “Expect rates to rise to 3.8% by the fourth quarter of 2022.” Still an amazingly low rate but it will cost you a bit more to wait.

 

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

 

To your success,

 

License # 306652

SimpliHOM Realty

Visit: AmberCarlson.Com

 

Sumner County Market Highlights:

 

Single-Family Home Stats  2020 YTD 2021 YTD 2020 vs. 2021 Analysis
         
Homes for Sale 1328 387 ↓70.9% Average days on market to Under Contract is less than a week with multiple offers
Months Supply 4.2 0.9 down

78.6%

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 $151 $172 up 13.9% Thinking of building? Lumber has caused new construction to raise prices continuously