The September 2018 Blount County Market Update is now available! September was another excellent month for most of the Blount County Real Estate Market.
The majority of the market continues to be a strong seller’s market. However, an ongoing inventory shortage contributed to fewer homes being sold compared to last month. Overall the average sales price went down by an insignificant amount, and the average Days on Market (DOM) increased slightly.
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 $300K and below price ranges is causing fierce competition for properly priced homes. Buyers need to act quickly when they find the right house.
The opposite can be said of the luxury market, which is still suffering from an excess of supply in all but one price range ($700K – $899K). This is great news for luxury buyers, however luxury sellers need to be realistic about proper pricing and selecting the right agent.