Thompsons Station House Market Balanced

Along with most of the US house market, Thompsons Station TN house market has shifted to “balanced.” You might be wondering what “balanced” means.

A balanced market has decent inventory and a healthy amount of buyers – you could likely sell your home on an average timeline for a moderate amount.

In other words, the seller’s market of the past two years is over. This doesn’t mean it’s a “bad” time to sell. Putting a double-down approach to preparing your home to sell for the highest market price is critical. Preparation has shifted into a high priority. It also means you should not expect to sell your home over the opening weekend. This could happen. Especially if priced, prepared, and promoted correctly. However, days on the market have shifted to 25 plus days instead of 3 to 7.

Don’t panic. The selling frenzy of the past two years occurred due to the unusual Covid conditions. People made moves because they were stuck in a home they didn’t want to be in. Many buyers and sellers shifted their living circumstances to ensure that if they ever got stuck again, it would be in a home they didn’t mind.

Another huge factor in the shift is the intentional mortgage rate hikes from the Federal Reserve. Buyers must shift back to pre-Covid interest rates as they battle inflation and debt.

Most of these moves have been completed. Now we’re returning to the “balanced” market.