by TJ AndersonThis prediction from Dwell magazine, from late last year, just made its way into my Facebook feed: “Step Aside, Subway Tile — Penny Tile Is the New Classic.” Penny tile,
Why Now Might Be The Perfect Time To Sell Your Nashville Home
by TJ Anderson
Finding the right time to sell and/or buy a Nashville home is a tough juggle — I know that all too well personally and professionally.
You’re weighing out your own schedule, the way the Nashville real estate market is moving, mortgage interest rates, and on and on.
Ultimately, a “perfect” time doesn’t exist — there are pluses, minuses and compromises with all markets, all market conditions, all home sales, all home purchases. What you — and me, if I’m your Nashville Realtor — are looking for: a situation that works well for your individual needs.
That’s all to say that, right now, we’re in an interesting place in the home market across the country, and it’s particularly well-suited to sellers who really need to move quickly.
Across the U.S., homes are selling quickly
New data from the National Association of Realtors shows that, across the board, home sales are calming down in volume a bit, after our long, wild stretch of unprecedented numbers in Nashville and beyond. But we’re continuing to beat records in terms of price and speed.
Nationally, the median existing-home price rose to an all-time high again in May, for the 75th straight month. And the average days on market dropped again, to 26 days, down from 27 a year ago. Almost 60 percent of homes sold this May hit and left the market in under a month.
“What is available for sale is going under contract at a rapid pace,” chief economist Lawrence Yun said of the latest numbers. “Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.”
So, headline: Homes are moving fast, all across America. What about here in Nashville?
We’re almost right on the national number: For May, 2018, according to Greater Nashville Realtors, the average time on the market for a local home was 28 days.
Swift movement like that can be tough for buyers — there’s pressure when the market moves so fast, and, admitting my obvious bias, I’d strongly encourage working with an experienced Realtor who knows the community you’re hoping to buy in. (Even if it’s not me.)
For sellers, you’re in a positive place — especially if you’ve already found a new home, are leaving town for a new job, or otherwise don’t have time to waste on getting to closing day.
Thinking of selling? We'd love to help.
Have some questions/want more insight into what the Nashville real estate market looks like for home sellers right now? I’d be more than happy to dig deep with you. Call or email TJ Anderson Homes, and tell us about your plans. We’d love to help you with whatever you need — selling your Nashville home, buying a new Nashville home, or both.
You can also start with an Instant Market Report here.
For a little extra insight: Here’s where we keep the latest data on Nashville homes sales, from the average home price across Nashville to the overall market health.
TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....
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