October 2020 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.

Local markets and what is happening nationally continue to mirror each other — continued short supply and high demand are still driving prices up. The forecast for the remainder of the fall and winter months show these trends will hold! The median price year to date is $310,000. This represents a 9.7% increase from $279,000 during the same period in 2019.

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.

Thanks to a healthy appetite for homes in our area, well-prepared properties don’t sit on the market for long. This year, the average days on market have remained exceptionally low at just 18 days. This was a massive 52.6% decrease from 38 days during the same in 2019.

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.  

A neighbor recently asked me if it would be better to wait to list his home in the spring.  No need to wait. Buyers are ready, willing and able to buy now! With the holidays approaching, buyers are feeling the pressure to pounce on the right home, making this an excellent time for new homes to hit the market. With my strategic listing preparation and marketing plan, my clients get the highest possible price in the fewest days on market.  

As a homeowner, what does this mean for you? 

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 100s 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 unique 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 Realtors

https://ambercarlson.com

Amber@AmberCarlson.Com

615-438-8728

Sumner County Market Highlights:

Single-Family Home Stats

2019 YTD

2020 YTD

2019 vs. 2020

Analysis

Median Sale Price

$279,000

$310,000

up 9.7%

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

38

18

down 52.6%

Average days on market for residential homes are exceptionally low, at 18 days YTD compared to 38  in 2019. Having a proven marketing strategy is a great way to capitalize on the flourishing demand in our market.

Total Inventory

1147

1503

down

23.7%

Homes are selling fast, often with multiple offers, and it’s starting to chip away at our inventory. With fewer homes on the market, it’s easier for new listings to gain traction.

Median Price per Square Foot

$139

$149

up 6.4%

Sumner County continues to attract relocation residents from the West and North. This causes space to sell at a premium, now at $149 sq. ft. YTD, up from $139 during the same period in 2019.