Have questions or want to talk about your situation? Call me, Troy Stavros with Gables & Gates, REALTORS today at 865-777-9191 to setup a time for us to talk. I look forward to hearing from you!
Median Days On The Market in Farragut is Crazy Low!
Want to know how hot a market is and whether it’s a good time to sell your home in Farragut or Knoxville? Study the median days on the market. Â Nationally the median days on the market is dropping like a rock and it’s no different right here in Farragut and Knoxville.
MEDIAN DAYS ON THE MARKET IN FARRAGUT FOR JUNE = 18 DAYS!
MEDIAN DAYS ON THE MARKET IN KNOXVILLE FOR JUNE = 43 DAYS
Below is a graph showing how the rest of the country is fairing.
Some Highlights from the national real estate market are:
- Homes sold in 60 days or less in 35 out of 50 states and Washington D.C.
- Only 7 states had a median sold date longer than 90 days.
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Thinking Of Selling A Home In Farragut or Knoxville? HURRY!!
As I received the latest data on the 2015 housing market, one thing is for sure: If you are considering selling a home in Farragut or Knoxville, the time is now!
Yes, existing home sales dropped in January compared to December. But, nationally if we compare the current September-January time period to the same period a year ago, it shows that existing home sales have surpassed last year every single month, with the January national sales numbers being 200,000 homes greater than last January.  Farragut, TN had a 19.8% increase! Knoxville as a whole saw a 11.2% increase.
Pending home sales (houses that have gone under contract) as reported by the National Association of Realtors have also done much better in the last five months compared to last year:
Data also shows that the demand for homes from buyers in the market has increased significantly over last year as well:
But with all of the positive buyer activity above, data shows that inventory levels are lower than last year, which is a huge win for folks who are selling a home in Farragut or Knoxville. Â Knoxville’s inventory of homes for sale is down 8.5% from last year and the amount of homes for sale in Farragut is down 12.5% with new listings in Farragut down 13.3%.
If you are thinking about selling your home in Farragut or Knoxville, with demand increasing and supply dropping, this is the optimal time to get the best price for your home and get it sold in the fastest time possible. Contact me, Troy Stavros with Gables & Gates, REALTORS® today to see whether that is the case in your particular neighborhood.  Remember, real estate is local and can be different not only from town to town, but neighborhood to neighborhood and house to house.  Interested in finding out how much your home could sell for?  CLICK HERE TO FIND OUT.
How Are Knoxville Home Prices Up and Affordability as well?
How are Knoxville home prices up and affordability as well? Recently released data from the July Existing Home Sales release published in late August states that median priced existing homes have increased in price by 9.4% from one year ago. With that being said, you as a Knoxville home buyer might ask yourself, have I missed the best time to buy?  The answer is no.  Why, do you ask.  Because while prices are up from one year ago, mortgage interest rates are down nearly a full percentage point and according to recent economic data, incomes are modestly up.
All of these factors are used to calculate the “Housing Affordability Index”.
Are you ready to take advantage of this incredible time of affordability? Â Call or text us today at 865-999-0925.
SOURCE:Â http://economistsoutlook.blogs.realtor.org/2012/09/07/latest-housing-affordability-index/