Kingston Springs Housing Market Update: July Recap
Jack Mahoney is a realtor in Kingston Springs who is driven by a mission to deliver top-tier service, trusted market insight and meaningful value to the community he calls home. Check out the Gazette's latest real estate column, "Mahoney Knows Homes."
Recent reports on the Middle TN housing market highlight some surprising news: Nashville has ranked #1 as the slowest housing market in the U.S.
It’s hard to believe, especially considering the rapid pace of the market just a year ago. Although not directly about Kingston Springs, this news affects our community as we’re part of the Greater Nashville Area in real estate statistics.
Just a year ago, the median days on market for a home in the Greater Nashville area was 20. Today, it has caught up to the national average of 52. This significant year-over-year increase has made Nashville’s slowdown the most dramatic of any other market, earning it the title of “#1 Slowest Housing Market in the U.S.” While it may not be the slowest, it’s a market undergoing rapid change and may not be as competitive as it once was. Kingston Springs, though unique, has also seen an increase in days on market compared to previous years.
Click here to read the article published by Realtor.com.
That being said, there was an uptick in new listings in Kingston Springs this July, which is typical for this time of year. With days on market increasing and inventory rising, the metric everyone is watching is holding strong: Pricing.
In Kingston Springs, sales numbers for single-family homes have continued to increase, and properties are appreciating annually. The median sales price in July was $492,000 with an average of 47 days on market. Interest rates have hovered in the mid to high 6% range, and with speculation of a potential rate reduction, many are anticipating a boost in buyer activity.
You can check out my active Kingston Springs listings here.
Understanding your home's market value is more important than ever in a changing market. If you are considering selling, let’s talk about what makes your property stand out. Please send me an email at jmahoney.realestate@gmail.com or give me a call at 615-370-8669 for a detailed and comprehensive market valuation.
