In this Knoxville Insider Issue…

🌤️ Real Estate Edition - Real Estate Market Insights: September 2024
 

Real Estate Market Insights: September 2024

As we move into fall, the real estate market continues to evolve, offering unique opportunities for both buyers and sellers.

Current Market Trends: The market has been experiencing a slight shift, with interest rates remaining steady but higher than in previous years. This has impacted buyer behavior, leading to more strategic offers and negotiations. Hopefully we will see these fall a bit soon. Sellers are still seeing strong demand, but properties priced correctly are moving faster than ever. Proper pricing and presentation are crucial to standing out in today's competitive landscape.

Buyer’s Tip: If you’re looking to buy, now might be the time to act. Be sure to get pre-approved and have your financing in order to move quickly when you find the right property. Good news for you?? - The total housing inventory in our area increased 43.2% from this time last year.

Seller’s Tip: For sellers, curb appeal and staging can make all the difference in attracting potential buyers. With more homes on the market, it’s essential to make your home stand out, whether that means a fresh coat of paint, updated landscaping, or professional staging. Good news for you?? - The median sale price in our area is $374,950 - up 7.13% from 2023.

Investment Opportunities: Investors are also keeping a close eye on the market, with rental demand rising due to limited home affordability for some buyers. Multi-family homes are seeing a significant uptick in interest.

Ask a Realtor😀 

Got questions about buying or selling? Feel free to reach out! Whether you’re curious about how to get started or want advice on maximizing your home’s value, I’m here to help with all your real estate needs.

The Real Estate Edition Issue brought to you by Barbara Newton. She can be reached at [email protected]

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