This is better than a crystal ball
I made two predictions earlier this year.
The second prediction was that we would hit 4,000 sales per month in 2017. We still have to wait to see if that comes true.
The first prediction: Nashville would finish out the year with approximately 3,000 home sales per month.
And for the month of November there were 2,978 sales.
This is up 24% over last November.
That's a huge jump from one year to the next, and many people doubted my prediction.
Now before you think that I’m ready to set up my own Psychic Hotline, there was nothing magical about my foresight.
It was based on long hours spent analyzing the market.
While others agents are out on the golf course or at the beach, I spent time digging deep so I could be more valuable to you (and your wallet).
Here are the other November numbers that you want to see.
Prices were up 12.1% over November of 2015. The current median price for a home in Nashville is $259,900.
Inventory is down 9.7% over the same month last year with 11,225 properties on the market currently.
Here’s one last trend that I’ll share with you today. If you haven't noticed, interest rates are up since the election. The average rate in early November was 3.5% for a 30 year fixed loan. As of the time I wrote this, the average rate is now 4.15%.
That doesn’t sound like much, but it equates to more than $39,000 in interest over the life of the loan.
As the economy improves, it’s expect to do the same.
If you have plans to make a move on 2017, then I would be thinking sooner rather than later.
And there is no better time to start than now.
All you have to do is call.
The Daily Deal in Nashville is a renovated brick bungalow in East Nashville for less than $300,000.
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