How Fast Will My Home Sell

Dated: 07/19/2016

Views: 232

Selling Your Home in East TN

In a recent Realtor.com article, the RE/MAX National Housing Report looked at 53 metropolitan areas in June, and found the national average number of days on market for residential properties was 54, down 4 days from May 2016 andJune 2015. That makes June the 39th consecutive month with a days-on-market average of 80 or less, the company noted in a press release. The RE/MAX data also showed, with the market now in the midst of the popular summer selling season, both home sales and prices are rising. Demand pushed June sales to 9.4% over sales in May, and the national median sales price in June was $229,900, marking a 2.2% increase over prices from June 2015. 

In the Tri-Cities area, waining inventory has been prevailing in recent months, with more buyers than inventory. There are several factors in the market time for a home in the area; the largest being market trend and pricing. Your Realtor should be able to sit down with you and show you 'comparables', or "comps" for properties that offer the same features as your home, in the area near your home. Comparables can offer more than just price advice, they can be a good indicator of how long homes have been on the market in your area (DOM-Days on the Market), and as well, help you look at your home and it's value objectively. Comps can also be the key to helping decide what improvements to make if you're considering a remodel to bring the most bang for your buck.

If you're considering selling, call us at The Shields Team of Keller Williams Realty and let us review your home, and what the market dictates in your area. We can give a close estimate as to how long your home may be on the market, but we can't help if you don't call! Our office number is(423) 433-6517, or come by and view your home's comparables on the big screen in our market center at Keller Williams Realty, 1033 Hamilton Place in Johnson City. Let's find out how long you have to pack!

 By the way, are you interested in knowing your home's value? If so, go here: What's My Home Worth

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Rayne Price

Holding a BS in Environmental Science, and MA in Education, real estate was not Shields Team Buyer Specialist Rayne Price's first career choice. It was only after encouragement from his wife and a cl....

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