The Blount County and Maryville Real Estate Market ventured further into a Normal Seller’s Market despite inventory shortages in many price ranges. Although the number of sales were significantly reduced compared to last month (see Quick Facts), we remain positive about the overall health of the market. Why? Because historical data confirms that slowdowns are normal for this time of the year.
Owners and sellers in the $100K – $399K price range still have Seller’s Markets working in their favor; this should be taken advantage of if you need to sell. 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 January. 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.