June 2021 Sumner County Market Report

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.  Or making the strongest offer possible in a multiple offer situation.

 

This requires an understanding of our local market and where your home or buying needs fit into the landscape. As you consider making a change, here are the top things you should know:

 

Demand for our area remains high, and housing supply is rising. What does that mean for you?

An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications that we may have hit the lowest point we’ll see, according to Odeta Kushi, Deputy Chief Economist at First American. Still, we will be in a sellers market for quite some time.

 

Despite rising prices, homes continue to move fast.

Buyers need to act now but be patient in your search.   Although we took  a dip from May to June, there has been an increase in home inventory just in the last few weeks right here in Sumner Co and surrounding counties. I have noticed it personally while searching for homes for my buyers.  This means less competition for buyers and possibly fewer bidding wars. The most recent Realtors Confidence Index shows that the average home is on the market for just 17 days.

 

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

A typical summer versus THIS summer. Inventory declines after a spring peak, usually in June  but THIS SUMMER inventory levels have been rising since February. Price appreciation will usually ease around this time in a normal market but THIS SUMMER price appreciation is still increasing and has so by 15% since this time last year.

 

 

 

 

 

 

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.

 

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

 

To your success,

 

License # 306652

SimpliHOM Realty

Website: AmberCarlson.Com

 

Sumner County Market Highlights:

 

Single-Family Home Stats  2020 YTD 2021 YTD 2020 vs. 2021 Analysis
         
Homes for Sale 1300 526 ↓60.1% Average days on market to Under Contract is less than a week with multiple offers
Months Supply 4.2 0.9 down

78.6%

Inventory has been rising since FEBRUARY and continues to do so.

 

Closed Sales 423 425 up 2.8% This number continues to rise as we see more homes coming on the market