Demand for our area remains high, and it’s having a positive effect on prices.
If you were able to invest $3500 today with the possibility of doubling your money in one year would you hear me out? The average American in Tennessee gained around $37K the past year in home equity. When it’s time to sell your home, your equity can help you with some of those goals. Kids College fund, move to a bigger house or start a business. Home appreciation will start to slow down in the months ahead. You will see home prices settling back to a normal market or rather pre pandemic statistics.
Despite rising prices, homes continue to move fast.
It’s the very reason that renters buy. Rent is rising. Landlords can increase your rent where more loans can lock you in for 30 years. Plus as a homeowner you have the option to customize and upgrade your space. And most importantly….you are building wealth rather than building someone else’s wealth.
Buyers are searching now, and we expect competition to stick around.
Multiple offers are still a big struggle for buyers these days. That part has not changed but what I can say is that there are definitely more homes coming on the market, daily however we did see quite a drop from August to September as far as new listings in Sumner Co.*see below. After 4 months, hundreds of miles driven, multiple offers submitted and some rejected, I can say that all 4 of my buyers are under contract. Contract to close is averaging about 55 days due to a DELAY in APPRAISALS.
Real Estate Market Highlights: SUMNER COUNTY
|Single-Family Home Stats||2020 YTD||2021 YTD||2020 vs. 2021||Analysis(month2month)|
|Homes for Sale||1119||451||↓59.7%||Today, Oct. 1st Sumner has 248 Active single family homes avail. Davidson Co. has 671. Townhomes/Condo: 42 Sumner 279 Davidson Co.|
|New Listings||443||370||↓ down
|Of the 370 new listings in September 312 are already Under Contract|
|Closed Sales||387||356||↓down 8%||338 single family homes Closed last month (September) in Sumner Co. Average Days on Market 8 days!|
SimpliHOM Realty OFFICE: 855-856-9466
Website: AmberCarlson.Com Lic#306652