In the graph above, take a look at the far right bar (12/15) vs. the third from the left (12/14.) Do you know what that means?
As with ANY major financial transaction, the more information you have, the better decision you can make. If you are considering buying or selling a home in Sumner County in early 2016, it is vital that you understand the current market conditions. It’s even more important to understand how these conditions differ at different price points. If you are in the $100,000-$250,000 range, it is a strong SELLER’S MARKET, If you are in the $250,000-$500,000 range, the market is neutral, and if you are in the $500,000+ range, it is a BUYER’S MARKET.
So, what’s that mean to you? In the popular price ranges up to around $250K, homes are typically selling much faster, and bring higher prices as more buyers are competing for fewer houses. With a neutral market in the mid ranges, and buyers market in the higher end, this market FAVORS those homebuyers selling a home up to $250K, and moving into the higher price ranges. In light of continued lower interest rates, market conditions are near PERFECT for UPSIZING home sellers/buyers.
For DOWNSIZERS, the market isn’t as favorable, but typically folks trading down have more home equity, and are better able to absorb the contrary conditions.
No matter which market you are in, or your current situation, Sherry Anderson and I will listen to your desires, and advise you accordingly, based on our in depth knowledge of the market.
If you want to learn a bit more about your particular market segment, check out the links below separated by home price. If you would like an even more specific report on JUST your neighborhood let us know. We know that your knowledge is key to a successful transaction.
Sumner 100-150
Sumner 150-250
Sumner 250-350
Sumner 350-500
Sumner 500-800