The Seller’s Market is defined by a rela estate market where the power in the negotiation of sales price and terms is tipped in favor of the seller. This typically happens when there are more buyers than there are sellers or at least a lower ratio. So Lawrence Yun , Chief economists said that right now nationwide for the January 2013 we had 4.2 months of inventory. That in his mind is a sellers market as that is the lowest inventory of homes since April 2005.
The Williamson County market is hot right now too at 5.7 months of active inventory. One year ago Williamson County inventory was at similar levels just below 6 months, but the average has been to trend above 6 months. The trend will peak up a bit as the Spring listing season brings on more listings, but then we will see if the buyers take advantage quickly of the good deals. In recent weeks I personally have been involved in 3 deals that involved multiple offers, one of which had 4 multiple offers. What will happen is that the buyers will offer over list price and when sellers are being confronted with low offers they will not reduce their prices as much and wait for higher offers that will follow as buyers can’t find what they want at lower prices any more.
Simply a supply vs demand scenario for Franklin TN Real Estate. Supply drops and the prices will go up.
Buyers will have to become very aggressive and sensitive to timing new listing shitting the market to get good deals and the house they desire. Check out my premier real estate search website to see all the on the market Franklin TN Homes. This site is going to help an active engaged buyer as it will alert buyers via email when a new home matching their criteria is available.
If you would like to have great representation on your home to help navigate these multiple offers and the changing market from the viewpoint of a well educated and informed team of REALTORS, call The Grumbles Team today.
The Grumbles Team is our family serving your family with your real estate needs in Franklin, Tennessee 615-587-5843.
EXIT Realty of the South | 1227 Lakeview Dr. Suite 1 | Franklin | TN | 37067 | 615.550.5555
Williamson County Real Estate Agent
Each EXIT Office Independently Owned and Operate