One of the most common questions real estate agents receive is “How is the market doing?” It’s a good question because every homeowner is curious about what their home value might be. When deciding whether to list your home or not it helps to look back at the market trends in your area. Here is an update on the Spring Hill, TN real estate market trends.
You can see how the home values are going up. On this first table you will notice how the home inventory is up by 4% which is good. Spring Hill’s home inventory has been very low and while 4% doesn’t cover the demand it is a step in the right direction. Spring Hill is still leaves in a sellers market. The median list price is about the same as last month. The days on the market is right at 40 which is very fast. That will probably increase a little due to new TRID regulations. The square foot price for homes is now at $119 per sq.ft. which is a slight increase over last month.
Data from Movoto: Spring Hill Real Estate Trends
Spring Hill home values have increased a lot since last year. In October of last year the median home value was $260,613 and one year later is $289,900. That’s an 11% increase in property value!
How long do homes stay on the market in Spring Hill? Just around 40 days on average. The days on the market figure has decreased quite a bit when compared to one year ago.
Month to Month date for the last 6 months.
As you can see from the data the Spring Hill TN Real Estate market is very strong. Contact me today to see what your home might list for!