Thinking about selling your home? Cookeville real estate is HOT. Currently, the city is experiencing high housing demand and a lower than average supply.
In this article, I’ll cover the trends in the housing market broadly and compare them to Cookeville. And spoiler: if you’re planning on selling, this is the best time to do so.
Cookeville Real Estate Prices Now
The market is crazy across the United States, and Cookeville is no exception. Over the course of 2021, home prices have skyrocketed with the median list price hitting close to $440k. Compare that to this time two years ago at ~$250K.
Now, if you look at the graph, you’ll see that for the first time in months, that price is starting to fall. Don’t take that as a sign the market’s crashing and that you need to sell.
December into January is the most sluggish season for selling homes. After all, do you want to move during the holidays? Not likely.
But if you do want to start the process after the New Year, you can sell your home here.
There are two rules of thought when it comes to buying and selling a home. What’s the demand look like? And how many homes are on the market?
The eagle-eyed just saw that what I’m saying is, in real estate, it’s all about Supply vs Demand. And there is some solid data for when you should put yourself on the market.
Spring is the best time of year to list a home for sale. Summer is right around the corner, people are looking for new beginnings, and folks are coming out with a little more cash than normal thanks to a tax refund.
Summer is another solid option, but here’s where the supply-demand ratio gets tricky. Most homes are sold in the summer. And that’s because most sellers sell during the summer, for the same reasons mentioned above.
The hardest part of a seller’s market in real estate is that once you sell, you’re going to need to go somewhere else. If you’re downsizing or able to rent and hold out for a slump in the market you may come out ahead.
As well, what do you need to sell your home for? If you’re moving for a job or to be closer to family, maximizing your profit may not be as important as a quick sale.
Alternatively, if you’re hoping exclusively for a profit, you can take your time with potential buyers. Note the longer your home is on the market, the more suspicious it will look to potential buyers.
Sell Your Home
Cookeville real estate is flying high. If you’re looking to sell your home for a profit, now is the time. Of course, weigh the difficulty it may be to find a new home under the strong seller’s market.
Hopefully, you’ve gleaned something useful from this post. And if you’re looking for more on real estate trends, check out some of the related blog posts.