November 2022 Sumner County Market Report

Market Report: November 2022

The market is not crazy. We need to stop using that term. The real estate market is complex and competitive. We needed home prices to cool off so we can get back to a normal price point. If you watched any of my videos I did warn you in the first quarter that this hike in home values was not going to last.

It’s a sellers market based on inventory but I will tell you one thing….buyers are putting up a good fight. They are coming in asking lower, wanting closing costs and will be getting a home inspection and expect repairs.  Hands down buying is still better than renting if you are considering one or the other. Rent has gone up 7.2% over the past year and 72% of landlords plan on raising rent again over the next year according to the Realtor.Com article recently printed.

If you’re thinking about buying or selling in the next 12 months, now is the time to get a plan in place. understand the financial and logistical complexity of a 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 16 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.)

Single-Family

Home Stats

2021 YTD 2022 YTD 2021 vs.

2022

Analysis
         
Average Sales Price $446K $447K Last years appreciation : 18%

Current appreciation: 8-10%

Normal Appreciation is: 3.5%

New Listings 476 454 Sellers market which means still a housing shortage
Average.Price Per Sq. Foot $193 $218 Builders are trying to catch up to the demand. Contractors are months out, unless you call me.

SimpliHOM Realty OFFICE: 855-856-9466 Website: AmberCarlson.Com Lic#306652