Ready for the two big reasons to sell your home right now in Farragut or Knoxville? Way back in high school, when we sat through that exhilarating class called Economics, we learned that when you are selling anything, you will get the most money when the demand for the item you are selling is high and the inventory of that item is low.  Better known as the Theory of Supply and Demand.

If you are contemplating selling your home in Farragut or Knoxville, here are two visuals that help explain why there is no better time than now.

SUPPLY

The latest Existing Home Sales Report released by the National Association of REALTORS® shows that nationally, the “month’s supply” of available homes dropped to 4.4 months worth of inventory.  This number translates to the lowest it has been in over a year.  Locally these numbers are even more telling as the number of available homes in Farragut is down 7.2% from last year and Knoxville as a whole is down 6%.

DEMAND

Also according to the National Association of REALTORS®, compared to January of last year, buyer activity (demand) was 3X higher.  This equals buyers who are in the market now, waiting for your home in Farragut or Knoxville to hit the market.

 

WHAT IT MEANS TO YOU

Putting your Farragut or Knoxville home up for sale when demand is high and supply is low will no doubt increase your chances of a higher price and a faster sale.  Using the same rule of Supply & Demand, waiting until Spring for more supply (competition) to hit the market would have the opposite effect.  Interested in talking more about getting your Farragut or Knoxville home on the market ASAP?  Contact me, Troy Stavros with Gables & Gates, REALTORS® today so we can schedule a time to sit down and talk about your situation.  Wondering what your Farragut or Knoxville home could sell for? Click here to find out.