November 2018

November 2018 Market Update

November 2018

Most of the Blount County Real Estate Market continues to be a strong seller’s market due to inventory shortages in many price ranges. The average sales price dipped slightly in November compared to last month, but was still well within historical norms for this time of year. The Average Days On Market (DOM) dropped significantly which tells us that buyer demand and market momentum are strong.

Owners and sellers in the $100K – $300K 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 $400K and below price ranges is causing fierce competition for properly priced homes. Buyers need to act quickly when they find the right house.

One segment of the luxury market experienced strong sales, while other luxury price ranges still have an excess of supply. Luxury sellers need to be realistic about proper pricing and selecting the right agent.

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