The August 2018 Blount County Market Update is now available! August was another excellent month for the Blount County Real Estate Market.
Homes located is high-demand price ranges are selling even faster, and the average Days-on-Market (DOM) dropped to just 43 days. Last month the average DOM was 48 days, which is a drastic drop from the 60 DOM average from back in May!
There continues to be lots of pent-up buyer demand, and inventory shortages continue to be an issue in most price ranges under $400K. In fact, properly priced homes below $250K are frequently sold within days of hitting the market. As such, it is very important that buyers act quickly when the right house comes along.
Owners and sellers in the $100K – $400K price range have a strong seller’s market at their disposal; this should be taken advantage of if selling is a priority.
The opposite can be said of the luxury market, which is still suffering from an excess of supply in all but one price range ($900K – $999K). This is great news for luxury buyers, however luxury sellers need to be realistic about proper pricing and selecting the right agent.
