The Blount County Real Estate Market transitioned into a normal seller’s market despite inventory shortages in many price ranges. Although all major indicators are red this month (see Quick Facts page in FREE PDF report), we remain positive about the overall health of the market. Why? Because this is completely normal based on historical data for this time of year! In fact, this is almost exactly what happened in 2017.
Owners and sellers in the $100K – $399K price range have a strong seller’s market working in their favor; this should be taken advantage of if selling is a priority. The ongoing inventory shortage in the price ranges below $400K is causing fierce competition for properly priced homes. Buyers need to act quickly when they find the right house.
Unfortunately the luxury market experienced weak sales activity in December. Although this is normal for this time of year, luxury sellers need to be realistic about proper pricing and are not advised to try selling at “wait and see” prices.