We have been on a pretty wild ride in the last few years here in the Nashville real estate market. In 2015, home values increased by a whopping 12% across the board. The average price last year was $233,000 and this year that number is sitting at $266,000.
Our average days on market have decreased and homes are now selling in an average of 61 days. Another important thing to note is that inventory has dropped, and this is creating a seller’s market. If a home is priced well and is in good condition, you will have a very good chance to sell quickly and for top dollar.
Home buyers can depend on the fact that interest rates are still historically low, so even though the market isn’t working in your favor, you can still buy a home for a very affordable price.
If you need help buying or selling a home in Davidson County, please don’t hesitate to contact me!
This information for the seller does not help me, the buyer. And everyone is so greedy these days. We have put bids on 2 properties, both of which had several bidders. When the seller saw the bids, I guess they thought they could get more and they did not accept any offers, and increased the price. It may be legal, but it is not the kind of person I want to do business. We just don’t know what to do now. We are very frustrated! We know it is a sellers market and they are not willing to pay any closing cost. We just regular people, little chunk in savings, but we don’t want to have to use it all for downpayment, closing, appraisals, and whatever else they can find to tack on. I guess I am just venting. But,if you have any advise we would love to hear it.
Hi Cindy, Thanks so much for stopping by our website.
I agree that it can be a tough market for buyers. If you’ve been making offers, I’m betting that you’ve already established a relationship with an agent that can help guide you. That’s good. It should be your first step. You might check out this blog post on Crafting A Great Offer:
http://agentsteph77.wpengine.com/a-guide-to-making-a-great-offer/
Sometimes you have to think outside the box to create a compelling offer. It isn’t always about price (though it usually is). Sometimes a long escrow period is what the seller wants, or a rent-back period, or an As-Is transaction. I find it’s important to try to figure out the seller’s hot buttons before crafting a written offer.