The Truth About Knoxville Housing Market
Today's real estate market has changed and the media does a wonderful job of telling us how awful it is. However, if you remove states like Nevada, California, and Florida, the current market is really not that bad. In fact overall, we are experiencing the 3rd best real estate market in history.
In Knoxville, TN and surrounding areas, the market is strong and healthy. The market currently has a large inventory with 13,373 houses and condos active on the market.
So what exactly does this mean to you? Well if you are thinking about buying a house in the Knoxville or surrounding area, this is great news. Interest rates are still low and you have higher inventory, means that you have a large selection of houses to choose from. Additionally, because Knoxville has experienced a nice healthy appreciation rate of 6% per year over the past several years (and with no sign of this changing) real estate is a great way place to invest your money.
So are you saying this is a bad time to sell? Absolutely not, however, because there is a high inventory of house, you need to have a Realtor® that can make your house stand out from the rest and will actively pursue buyers. Houses selling in the Knoxville area are currently averaging 90 days on the market and the average closing date after contract is 30 days. Additionally, last month 797 houses expired (meaning their Realtor® did not sell them during the contract time period- which is usually 6 months) Realtor® to sell your house is of EXTREME importance.
The Real Estate Market has changed and many Realtors® have not. In today, market, you need, and deserve, Realtors(R) that are up-to-date with technology and are able to think outside of the box. With Christine McInerney and Jennifer Halinkowski of Team McIn-Kowski of Southland GMAC we do just that, we have a research based marketing plan that is highly effective. If you are selling your house in the greater Knoxville area, contact Team McIn-Kowski today so we can tell you how to give your house an almost unfair advantage over other houses in the market place. Watch for our future blogs on effective marketing.
Team McIn-Kowski
Christine McInerney & Jennifer Halinkowski
Southland GMAC Real Estate
(865) 693-6961
www.homesforsaleknoxville.com
www.knoxvillereal-estate.com
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