A lot of you have been asking me about the state of our real estate market and whether now is a good time to buy or sell. My answer is an absolute yes, and here’s why.
First of all, if you’re looking to purchase a home, you will have to compete. At the same time, interest rates remain low and have balanced out our rising prices.
If you’re looking to sell, it’s a fantastic opportunity to do so with such low inventory. Five years ago, the Knoxville MLS might have had 10,000 to 15,000 residential homes for sale. Today we’re down to just approximately 1,400. Less inventory means less competition and more money for your home.
If you’ve even considered selling your home, now is the perfect time. Many of our sellers are receiving multiple offers, offers above list price, and most are selling within days. Prices have increased 15% to 25% in this year alone.
If you have any questions about the Knoxville real estate market or anything else related to real estate, don’t hesitate to reach out via phone, text, or email. We look forward to hearing from you soon.
