This is one question that all Realtors are asked regularly. Keep in mind that this is not the same question as "Which time of year should I sell my home?". That's an entirely different question. Here' we're going to take a look at the Middle Tennessee area including the counties of Willamson which includes cites like Franklin & Brentwood, Davidson which is Nashville, Rutherford which includes cities like Murfreesboro, Wilson that includes Lebanon and Mt. Juliet, Sumner that includes Hendersonville, and Maury that includes part of Spring Hill and Columbia.
Market conditions explained
For those reading this in the future, it should be noted that in the years of late 2019 through early 2022, the Covid-19 pandemic had a great impact on worldly economics including real estate. In many cases, it was predicted that real estate would come to a stop with all the restrictions and stay-home mandates. The opposite ended up being true, and the real estate world lit up on fire causing spikes in demand and shortages of inventory. Political and societal unrest combined with Covid had many people leaving urban cores and heading for the suburbs and beyond. The new advancements in technology for working remotely (from home) have reset the mindset of many people and they now choose to live where they choose. All of this caused huge demands, extreme multiple offer situations (10, 20, 30+ offers), paying well over list price - sometimes up to 30-40%), waiving of inspections & appraisals, and quick closings. All of this is important as the data is viewed - especially in the years of late 2020 when people started venturing out more and throughout 2021.
Once 2022 arrived, inflation started rising and by spring, the Fed started adjusting interest rates to curtail the rise. By mid-summer, rates stabilized for the moment. All of this caused some buyers to hit the pause button, while others chose to purchase before the rates climbed too high.
All of that is important because the last 20-30 months have been more different than most have seen in their lives, so it's important to apply that to the results. I'm also licensed in Florida, and that market shows a very different set of curves in their graph, so what occurred has much to do with which market someone was in.
When to sell is a different question
I'm often asked about which month produces the most home sales, and I always remind the person asking that home sell all year long. Late spring and early summer usually see a bump due to people coming out of the winter-mode, they're sprucing up their homes, and if moves relate to school at all those home buyers are acting so that they can make their move over the summer vacation. As you'll see in the graph though, much of the year has a very strong sales record that is fairly constant. Sometimes the holidays bring a mix because buying & selling during the holidays can be a hassle, but as shown... a lot of people do it and they are usually very serious about it because they're willing to do it in between all the hustle & bustle of the holidays.
Now, as mentioned... "When should you sell YOUR home?" is a different question that we're most willing to help you answer. Simply reach out and we'll evaluate your plans.