The June 2018 Blount County Market Update is now available! June was another excellent month for the Blount County Real Estate Market.
Homes located is high-demand price ranges are selling faster, with the average Days-on-Market (DOM) falling to 40 days in June. Last month the average DOM was 60 days! This type of acceleration is unsustainable over the long-term, so it will be interesting to see what next month’s numbers reflect.
There continues to be lots of pent-up buyer demand, and inventory shortages are definitely an issue in many price ranges. Properly priced homes below $175K are frequently sold within days of hitting the market, which partly accounts for the reduction in days-on-market. Buyers need to act quickly when the right house comes along.
Owners and sellers in the $100K – $300K 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. This is great news for luxury buyers, however luxury sellers need to be realistic about proper pricing and selecting the right agent.