Highlights from these recent real estate headlines all point to one piece of advice – list your home now.
Best January on record for Middle Tennessee Housing Market – Greater Nashville REALTORS®
“Our market just proved you can buy and sell a home during the winter,” said Greater Nashville REALTORS President Scott Troxel. “The winter months are actually a good time for serious buyers. There are fewer properties on the market, but there is also less competition for those properties.
“Not only did we see the best January on record, our market performed better in January than it did in either January or February of last year,” continued Troxel. “Pending sales numbers are also higher. Punxsutawney Phil might have seen his shadow, suggesting six more weeks before we see spring weather, but our data indicates our market may enter the spring selling season sooner.”
The Top Dates for Listing a Home Revealed – National Association of REALTORS® Economists
Home listings are most likely to debut on Thursdays and Fridays, with Fridays being the most common listing day by a slight margin. The most popular month for new listings is April, followed by March, May, June, and July, according to NAR.
Buyers Are Searching For Your House – Keeping Current Matters
Buyers are searching for existing homes, but supply is not keeping up with their demand. If you are considering selling your home this year, the early months of 2017 will be your best option.
The buzz about the spring market – the busiest home-buying season of the year – typically starts at the end of January. So, whether you’re buying or selling, now is the time to start meeting with Realtors.
Nashville home sales continue to make headlines not only locally, but nationally. In fact, Freddie Mac recently ranked Nashville the top housing market in the country. Check out Freddie Mac’s news release here and explore the numbers for Nashville and other cities.
The Greater Nashville Association of REALTORS® reported year-over-year home sales were up in June and for the first quarter of 2016 as a whole. Houses are flying off the market at the fastest rate since 2007, so we know that buyers must be working hard to find that perfect home and get it under contract. Harder than ever, perhaps.
Insights from daily surveys of visitors to realtor.com® tell us that their biggest challenge is the low inventory of available homes, which is holding us back from seeing even more sales.
In June, the No.1 obstacle to making a purchase, as reported by 40% of buyers on realtor.com, was simply finding a home that met their needs. This was also the top problem last June, but then only 37% of buyers reported the issue.
And it’s no wonder that more people are reporting that just finding a home is a problem. We have about 13% more people looking to buy this summer, yet there are fewer homes for sale.
If you are thinking about selling, now is the time to do so. The fall will be affected by factors such as school starting, weather shifting, and a new president gets elected. All will likely make this fall slower than usual, especially relative to the very busy spring and summer. Our expert agents at The Lipman Group Sotheby’s International Realty have the skills, knowledge and connections to sell your home in the shortest amount of time.
Nashville’s real estate market has been active and improving for some time now and the trend continued unabated through the first quarter of 2016. Home sales are up year over year in every category – dramatically up, in some cases.
On the market now is this impeccable home located in highly sought after West End Station in Sylvan Park. To learn more or schedule a showing, contact listing agent Sutton Lipman Costanza at 615-438-6149.
Here are 5 numbers to know from the most recent data released by the Greater Nashville Association of REALTORS®.
- 3,698: Total residential sales in May 2016, compared to 3,558 in May 2015; a 3.9 percent increase
- 57: Average days on market in May 2016 for single family homes
- $258,900: Median price in May 2016
- 12,122: Inventory for May 2016 a 3 percent decrease compared to 13,764 in May 2015
- 14,583: Year-to-Date total residential sales, an 8.8 percent increase over 13,402 a year ago
In many areas sellers are seeing increased activity for their properties, sometimes receiving multiple offers for the same property. Buyers are finding they need to make their best offer or face the prospect of losing out to another customer. Yet market conditions remain favorable for buyers. Conventional mortgages are widely available, interest rates remain low and homes on the market are in all price ranges.
It’s an exciting time–you’ve decided to move from your current residence into the home or neighborhood of your dreams. Now it’s time to consult with your Realtor, who can advise on how to prepare your home to make a beautiful first impression.
We may be in a sellers’ market right now, but sellers still need to take note of the following before listing!
Clean out, declutter and repair. Buyers want to imagine themselves living in their own home, not yours, so remove all personal items such as photos, quirky collections, knick-knacks and most art objects. Fresh paint in a light and bright neutral color provides an immaculate blank slate for buyers. For the most part, today’s buyers are not looking for a project. Consult with your Realtor about which repairs are needed to make sure your home is in tip-top shape to attract desired buyers.
Stage to perfection. Some surveys show that sellers get back the money they paid for a professional stager times three. When potential buyers tour your home either online or in person, you have only seconds to hook them, to make them want to see more. A stager, working closely with your real estate agent, will help you set the tone for that first look.
Elevate curb appeal. Power wash your home, walkways, porches, fences, driveway, deck and all other outside surfaces. Freshen landscaping with seasonal plantings and a layer of mulch, add floral pots to key areas to draw attention to the front door or courtyard and consider a neutral coat of paint to convey the image of a perfectly maintained residence.
Hire a professional photographer. Data shows the 97 percent of new home searches start online. Eye-catching photography is the first opportunity you have to engage potential buyers—whether online or in print—and you never get a second chance to make a first impression.
Price strategically. Smart sellers know that a strategic price attracts maximum attention – and prospective buyers. Today’s buyers understand home values. They’re jumping on things that are well priced, but they’re passing on homes they don’t think are worth what the seller is asking. Pricing is critical.
Buying and selling a home is often one of life’s biggest financial transactions. At RE/MAX Homes and Estates, our expert agents know the market, the comparable sales and the trends, and are committed to advising sellers how to get top dollar for their primary investment. Click here to consult with an expert Realtor at The Lipman Group Sotheby’s International Realty.
Each year as spring rolls around we love to offer Nashville real estate advice to buyers and sellers. After all, it’s the busiest time of year! As a seller, the most important thing to do is get your home show ready. What does this entail? Read below and you will find our top tips!
- One of the best tips we can offer is to let there be light. Have all lights on, leaving all blinds and curtains open. Change any energy-saving bulbs to brighter ones for showings. Fresh paint in a light neutral color provides an immaculate blank slate for buyers.
- Wash your windows! Whether you pay to have it done or do it yourself, potential buyers will notice if they are dirty, plus, you guessed it… it lets in more light!
Spring ushers in a light and bright feeling from dreary winter days so let your home reflect that same change. This listing at 2108 Timberwood Place showed beautifully with the multitude of natural light from the windows and all lights on. Now Under Contract, click on the photo to view other listings from The Lipman Group Sotheby’s International Realty.
- Make a lasting first impression. Curb appeal is important to real estate no matter the season but winter’s harsh conditions may have the exterior of your home looking a little worse for wear. Power wash your home, walkways, porches, fences, driveway, deck and other outside surfaces. Freshen landscaping by picking up fallen leaves, broken branches, and other debris, then bring your yard back to life with seasonal plantings and a fresh layer of mulch or pine straw. Invest in a new front porch welcome mat and clean the front door, painting if needed.
- Clean out, declutter and repair. Buyers want to imagine themselves living in their own home, not yours, so remove all personal items such as photos, quirky collections, knick-knacks and most art objects. Remove out of season clothes from closets to leave them looking spacious. Clean off the refrigerator doors and organize your pantry. If buyers see you living in a clean, organized space they can envision themselves doing the same!
Spring is an exciting time if you’ve decided to move from your current home into the home or neighborhood of your dreams. Now it’s time to consult with your Realtor, because an expert agent can advise on how to prepare your home to make a beautiful first impression and attract maximum attention (and prospective buyers).
The 2016 spring market in Nashville is bound to be a busy one. Nashville home sales in 2016 have already set a quick pace. According to the Greater Nashville Association of REALTORS®, there were 2,167 home closings reported for the month of January. This figure is up 9.7 percent from the 1,976 closings reported for the same period last year. Beginning the year with over 2,000 closings is an encouraging start. The last time our region saw a January with more than 2,000 closings was 2007 and Nashville’s January numbers have consistently increased each year since 2010.
This beautiful, stylish and sophisticated condo is located in 12South within steps of restaurants, shops, Sevier Park, and more. Click on the image for more information and photos from RE/MAX Homes and Estates.
Homes, especially those that are well kept and located in established neighborhoods, are selling quickly. In January 2015 the average days on market was 77, while in 2016 the number shrank to 64.
It’s not too soon to begin thinking about placing your home on the market, getting ahead of the spring season and the competition. A home is often a person’s most valuable asset, so it’s important to work with an expert who can maximize the return on investment through strategic marketing and smart pricing. Agents at RE/MAX Homes and Estates are finding buyers the perfect home and helping sellers get the highest price in the fewest number of days.