The Blount County Real Estate Market snapped back to life after a cold winter. The February sales increase we were anticipating did happen (see Quick Facts), and the Everbach Team is predicting a strong Spring selling season. Inventory shortages in the $300K and below price ranges remain the biggest obstacle; there simply aren’t enough homes to satisfy demand.
As such, owners and sellers in the $100K – $299K price range have Seller’s Markets working in their favor. The ongoing inventory shortage in these price ranges is causing fierce competition for properly priced homes, making now a GREAT time to sell. On the other hand, buyers are advised to act quickly when the right house comes along.
Unfortunately the luxury market experienced another weak month of sales activity. Luxury sellers need to be realistic about proper pricing and are not advised to try selling at “wait and see” prices.