Middle Tennessee Real Estate Market Activity Update from JoAnne Staler REALTOR Has Good News for Buyers

The end of July and all of August is the most frustrating time in the real estate business. Showings are historically down as buyers and agents take last minute vacations and prepare kids for school. The seasonal slow-down is exacerbated by the high inventory of homes for sale, the heat (whew!), and the constant media coverage of declining home sales. The truth is that while marketing time has increased, we still have a "good" (read: more normal) real estate market in Middle Tennessee, and homes that are priced right are selling every day. I will tell you that the buyers are definitely spread pretty thin, but they are out there, and we are ready for them!

Buyers are taking much longer now to make a decision. During their search, they are looking at more houses than ever before. Consequently, the buyers know and understand the market much better than in the past. With so many homes for sale to compare in their price range, it is obvious to them which ones are overpriced and which homes represent a good value. Also, many home seekers are finding that they can even step down a price point or two and still find the amenities they are looking for, especially with new home builders offering hefty incentives.

The days of bidding wars are probably past us for awhile. Unlike our most recent market, there is no reason now for a buyer to overpay for a house. Those buyers that are looking specifically for bargains can find them, as many sellers are in a position where they MUST sell. However, median home prices are still up in the Williamson County area, so we’re not seeing many fire sales yet. I’m finding that if the seller isn’t agreeable to a reasonable price negotiation, the buyer just moves on to another house. When we find an interested party, you can expect an initial lowball offer as the buyer tests the waters. You can expect to make more concessions than sellers have been used to in recent years. In some areas and price ranges, we are definitely in a buyer’s market.

I hope this Middle Tennessee Real Estate Market Activity Update was beneficial to you.  Should you have questions about the real estate market in Middle Tennessee or Williamson County please get in touch with me as I’d be happy to help.

Best regards,

JoAnne Staler, Broker Associate, RE/MAX Elite

JoAnne Staler Williamson County REALTOR is a Certified Luxury Home Marketing Specialist, Accredited Buyer Representative, Certified Residential Specialist Graduate, Realtor Institute RE/MAX Platinum Club Member, Hall of Fame Member and a Lifetime Achievement Award Recipient.

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