2019 is definitely still a seller’s market so far. How long will it last? Let’s break it down:
1. Inventory is still super low and the good houses and deals are going super fast.
2. Closings are still in line with 2018 and 2009, meaning they are very strong.
3. Active listings were flat, but still very historically low.
4. Prices are WAY up. How up? In 2018, the average price of a 2 BR or smaller home was 124,770 and in 2019 the average price was 141,254 . Wowza!
5. I repeat: interest rates are holding steady and down payment assistance programs are still available.
6. The sun is finally out and and so are the buyers. Sellers, start your listing engines!
*All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate.