The Blount County Real Estate Market had a fantastic March, with all key indicators showing green for the month (see Quick Facts).
The surge of Total Homes Sold is exactly what we expected to see based on historical data. Inventory shortages in the $300K and below price ranges continue to be an issue since there simply aren’t enough homes to satisfy demand.
As such, owners and sellers in the $100K – $299K price range have a Strong Seller’s Market working in their favor. The inventory shortage in these price ranges is causing fierce competition for properly priced homes, making now the PERFECT time to sell.
On the other hand, buyers are advised to act quickly when the right house comes along.
The other great news we have to report is the spike in sales that occurred in the $500K – $699K price range. Hopefully other segments of the luxury market will pick up soon. In the meantime demand remains low, so proper pricing is key.