Take a look at our Market update for Davidson, Williamson, Rutherford, Maury & Sumner County.
Our April 2020 Market Update is here and we are seeing a bit more of the effects of the COVID-19 virus on the real estate market. In short, inventory is really low and is the biggest driving factor (along side the virus) for a drop in total closings.
However, we can see the demand is still high as the Average Sales Price increased in each county. NAR released their statistics from a recent study. This REALTOR® Report stated that 77% of potential home sellers are preparing to sell following the end of Stay-At-Home orders. We expect to see this trend locally as well as the executive orders continue to be lifted and the fears around the virus subside. In the realities of the day to day market, we are seeing multiple offers on many of our listings and for many of our buyers. This is a function of the low inventory. We look forward to a strong real estate market as we move forward in the later portion of this Spring Market and continuing on into the Summer market.
*Data provided by Realtracs.