The Blount County Real Estate Market had a strong October but is showing signs of a slowdown.
According to key market indicators (see Quick Facts), the Average Sales Price (ASP) was down compared to last month and the total number of homes sold dropped by almost 30%.
Some of this reduced market activity is seasonal (spring and summer are historically when we see the most activity), but it is also an indication that rising interest rates are cooling buyer demand.
Sellers who NEED to sell or make a move should do so quickly to maximize their sales price.
Buyers who NEED to buy soon should act quickly to avoid possible interest rate increases. Buyers with less urgency may benefit from waiting for a market correction and better deals.
Call the Everbach Team today at 865-888-HOME (4663) if you are ready to buy or sell!
