As we begin 2018, it’s a great time to both buy and sell in our market. I have the stats to prove it.
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As we start 2018, I want to share a recap of some of the amazing things that happened in our Middle Tennessee market last year.
As you may have heard, our market continues to soar. We saw great gains in 2017, so congratulations to those of you who are now homeowners. You should have seen a great equity raise in your property values.
Be sure to check your tax records this time of year, as tax assessors have recently sent out property tax records. Evaluate them and make sure they’re accurate. If they seem inaccurate, call us and we can send you some information to combat that and hopefully get it lowered.
Property values increased by 4% last year compared to 2016. 2017 was the best year on record—even better than 2006, which was the peak of the previous real estate rise.
2017 was the best year on record for Middle Tennessee.
We expect that our market will stabilize in 2018 and remain strong. It really all boils down to supply and demand. As people continue to move to Middle Tennessee, Nashville, and the surrounding markets, there will be a limited supply of homes available, which will create a restriction. This means prices will go up.
As long as interest rates remain low, however, buyers will still be able to buy a home for reasonable terms. This makes now a great time to buy.
Since prices continue to push upward, we expect that we’ll eventually see a peak. Until then, we’ll continue to see them rise gradually, as most markets do. We’re not predicting a drop anytime soon, so it’s also a great time to sell and maximize the potential return on your home.
Thank you for making us the No. 1 real estate team in Middle Tennessee in 2017. We’re honored to have served 330 families in our area. We can’t tell you how much it means to us that you would trust us with your real estate needs.
If you have any questions about our 2018 market or you’re thinking of buying or selling a home in our market, don’t hesitate to reach out to us. We’d love to help you.