Metro Nashville And Middle Tennessee Housing Market Thriving

Dated: July 31 2020

Views: 110

    You may be thinking about selling your home for a new home better fits your needs, or maybe you’re considering relocating to Middle Tennessee - no matter the reason, your eyes are on the Tennessee housing market. I’ve found the question on most buyers’ and sellers’ minds right now (especially with COVID -19) is this: what’s the current status of our local market? 

    According to data collected from Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson counties, The Greater Nashville Association of Realtors statistics report from June shows sales were up .5% in June when compared to June of last year. After going through an inventory shortage and slight sales downturn earlier in the year coinciding with the onset of the coronavirus pandemic and shut down, we’ve moved back into a thriving market. A booming market has been the norm in recent years in hot areas like Nashville, Brentwood, Franklin, and Mount Juliet. Homes that are priced right are selling very quickly - oftentimes going under contract in less than 24 hours. 

The numbers confirm buyers are out in force, taking advantage of record low interest rates. Savvy sellers know they have the competitive edge right now over other sellers who have delayed their plans, and know they can get top of market value for their properties. In addition, our home values in Middle Tennessee continue to rise. Some might argue it is a better time than ever to make a move with the potential for market volatility in upcoming months. 

According to a quote from Lawrence Yun, the Chief Economist of the National Association of REALTORS®:

‘“The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown. This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue. Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply. Homebuyers considering a move to the suburbs is a growing possibility after a decade of urban downtown revival. Greater work-from-home options and flexibility will likely remain beyond the virus and any forthcoming vaccine.”

As an informed buyer or seller, one thing is for sure: it’s more important than ever to stay ahead of our ever-changing market. To request more detailed market information, a power market analysis for your home, or to set up a 15 minute pre-seller or pre-buyer consultation please call 815.978.1757 or email to schedule an appointment. 

Sources: www.greaternashvillerealtors.org

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Leah Olivotti #334980

Leah Olivotti began her career in residential real estate shortly after her move to Nashville. Building on her sterling reputation and considerable experience, Leah specializes in luxury residences i....

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