It’s time once again for your monthly snapshot of the Dickson County real estate market. As we settle into the warmth of summer, let’s delve into the figures from June and examine what they might mean for both buyers and sellers.
Months Supply of Inventory
A key indicator of market conditions, the months supply of inventory, showed a noteworthy shift. We noticed a significant decrease from May, dropping by 15% to stand at 3.2. In layman’s terms, this means if no new homes were put on the market, it would take 3.2 months to sell the current inventory based on the current sales pace.
A decrease in this metric leans towards a seller’s market – a market condition characterized by a shortage of goods available for sale, resulting in price increases. For homeowners contemplating a sale, this could be an opportune time.
Median Home Sold Price
Speaking of price increases, sellers in Dickson County have reason to celebrate. The median home sold price saw a rise of 10% from May, climbing to a robust $375,000. This is a clear indication that property values in our area are experiencing an upward trend.
The market remained vibrant for buyers as well, despite the increased prices. The number of closed sales in June rose by 5.8% from the previous month, totaling 91 sales. This suggests that despite the competitive market conditions, buyers are finding and closing on their dream homes in Dickson County.
As for new listings, 108 properties came onto the market in June, representing a 7% dip from May. While this decline indicates tighter choices for buyers, it also highlights the premium placed on available properties – good news for sellers who are considering listing their homes.
The real estate market continues to ebb and flow with changing conditions, but one thing remains consistent – the beauty and appeal of Dickson County. As we move further into summer, it will be fascinating to see how these trends develop.
As always, whether you’re thinking about buying or selling or just curious about the state of the market, please don’t hesitate to get in touch. Let’s navigate this exciting real estate journey together!
Stay tuned for next month’s update. Until then, enjoy the summer sunshine in our lovely Dickson County!