October 2022 Sumner County Market Report

The market has shifted…and it’s not sitting well with some sellers.

Should of , would have, could have. We can drive ourselves crazy thinking these thoughts. Let me tell you this. …appreciation has gone up 290% over the past 30 years! Your home is still worth more than what it was worth 2.5 years ago, pre-covid. That is the positive outlook we need to consider.

Competition is not as fierce and buyers actually have a chance to view, think about specifics that meet their needs and then make an offer. What are buyers asking for? EVERYTHING — closing costs, repairs, warranties and sellers to buy down their rate. Mortgage rates are expected to stabilize and between all types of loans for an average of 5.4% by the end of 2022 but right now we are seeing 7.25 rates….still not horrible.

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 $449K $493K Last years appreciation : 18%

Current appreciation: 8-10%

Normal Appreciation is: 3.5%

New Listings 504 534 Sellers market which means still a housing shortage
Average.Price Per Sq. Foot $189 $215 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