Nearly all real estate professionals will tell you that spring is the hot season for buying and selling homes. Families usually wait to move until after the school year, the weather is more cooperative for people who are house hunting and there is often more inventory. However, you need to ask whether it’s really the best time to sell your Nashville home. We’ll give you two reasons that it’s a great idea to list your home in the winter. First, you need to understand the current state of the Nashville real estate market.
Local Nashville Market
CNN reported that an average of 82 new people moved to Nashville every day in 2014. We don’t have more recent numbers yet, but we believe that over 90 new people moved into Nashville every day in 2015. This growth is due to the low cost of living here, compared to other large metropolitan areas. There’s also a lot of recent job growth, so people are confident in the Nashville economy. Last August, The Tennessean reported that companies were adding about 2,700 new jobs in Nashville, due to expansion and new economic opportunities.
All of this growth presents opportunities for you as a home seller. There is a large demand for housing. In fact, the demand is greater than the supply, which means home values have increased and they don’t last long on the local market before they’re sold.
We conducted a search on December 29th which showed 234 residential homes listed on December 28th and still active at 1:00 in in the afternoon on December 29th. All but 37 of those homes were under contract. The raw numbers might be a little higher than normal, but seeing 85 percent of those homes under contract in less than two days shows us that the numbers are consistent with the same research we conducted in November.
Sell Your Nashville Home in Winter
There are two excellent reasons for selling your Nashville home in the winter months:
- Homes sell quicker in the winter, according to the Huffington Post. Nashville is currently outperforming the national average. With less competition among sellers, buyers will have less inventory to choose from, so even if the home needs a little work, it will still be appealing to potential buyers and may even sell on the first day it’s listed.
- Homes typically sell for more money in the winter months. The Money site run by Time, Inc. says that sellers are more likely to get an offer that’s above the asking price in the winter than at any other time of year. Right now, there are multiple offer situations that allow sellers to earn more than they are asking.
Whether you’re ready to sell your Nashville home or just thinking about the possibility, contact us at Apex Ventures. We will provide a no obligation Competitive Market Analysis, which can tell you how much similar homes in your area are selling for. We look forward to working with you.