Nashville’s Fall real estate market is historically HOT… so what does THIS Fall have in store? You may be surprised by one stat that is taking a noticeable dip!
Looking at the Davidson and Williamson county luxury markets right now, you’ll see we are historically very healthy with the exception of ONE stat. Let’s peek at the good news first!
We are closing dollar volumes well above historic trends with $2.7 Billion closed in July. Homes are selling fast, averaging only 12 days on the market, nearly half the time of our historic averages! But… one stat is nose diving quickly.
The percent of list price a seller is getting for their home has dove to 97% a full percent below historic averages. But… the median sales price is remaining stable and well over historic numbers.
So what does this mean? There are still sellers who are overpricing their home.
Here’s my advice!
Sellers: When pricing your home DO NOT price it alongside other active homes similar to yours. Homes that are listed but not sold are NOT a comp. Inventory is rising. Don’t find yourself lingering on the market and suffering through a big price reduction. Prepare your home, price it well, and sell STRONG.
Buyers: You have the perfect home in your mind…the one with the yard, kitchen, and location you’re dreaming of. So now it’s time to do your homework. Zero in on the neighborhoods you love and study the pricing on homes that have SOLD. With our fluctuating market, stay within 3 months of closed sales for an accurate picture. Inventory will gently rise between now and December so your dream home is within reach!
Sellers! If you want to know how to prepare for a listing appointment or a quick and easy hack to solve your home repair woes… watch for our Luxe Q&A and Word of Mouth segments later this month!