Available real estate in Dickson County continues to be low with prices continuing to rise. When compared to 2020 home prices in Dickson County have increased by 13.1% while new listings have fallen by 3.8%. Single-family homes sold for an average of 100.8% of list price for the month of May, an increase of 1.5% vs May 2020.
We are clearly in a seller’s market with an average month’s supply of inventory at 1.9 months vs. 2020 at 3.8 months and 2019 at 4.1 months. To be in a balanced market we should be between a 4 – 6 months supply of home inventory.
With many forbearances expiring in May and June we could see an increase in inventory in the next 2 months. As of June 1st there were 2.12 million loans in forbearance across the nation with approximately 700,000 of those scheduled to end this month. Could the decline of active forbearances lead more homeowners to want to sell and cash in on any equity they have built up?
