Today’s demand for homes in Middle Tennessee has never been stronger. Our current market is unlike any we have experienced!
New listings are down more than 19%
Total inventory is down more than 14%
On average, homes are going under contract in 37 days
Median list prices are up 5.6% year over year
This, combined with Covid-19 bringing more family members into the home, the way buyers are thinking about their housing needs is changing. Working from home more, college students and young adults home for extended periods, and virtual schooling options are just a few reasons we are experiencing the need for additional space in our homes.
With mortgage rates at the lowest point in history, as low as 2.5%, buyers have more buying power than ever and are ready to make their more and many are considering that move to be away from the city and out to the suburbs where price per square foot is lower and lots are larger. I’m seeing a big increase in demand for homes on larger lots and acreage. If you are interested in exploring the options, reach out and let’s talk.