Kingston Springs Housing Market Update: May 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 newest real estate column, "Mahoney Knows Homes."
For those of you who haven’t been a part of my newsletter previously, each month, I break down the key real estate trends shaping our small-town market – tracking prices, inventory and sales so you can stay informed, whether you're buying, selling or just keeping a pulse on the community.
Well folks, here we are – mid-June, right in the thick of what’s typically one of the busiest times of year for real estate. While we’re seeing a slight uptick in activity compared to May, the market overall feels more unpredictable than usual.
Redfin recently reported that for the first time since tracking began in 2013, there are now more home sellers than buyers. Alongside this, Redfin, Zillow and other industry players are predicting potential price declines in the coming year. Of course, these forecasts are highly market-specific, but the signs are pointing toward a shift: we may be entering a buyer’s market, a stark contrast to the seller-dominated landscape we’ve grown accustomed to.
Here are some interesting changes in the Kingston Springs market from May:
- New Listings: Down 35% year-over-year
- Closings: Down 54%
- Average Days on Market (DOM): Up 50%
I know, I know... the number we really care about is the median (or average) sales price. But with small monthly sample sizes, that figure can swing significantly. To smooth things out, I looked at a 3-month snapshot:
- The median sales price for a single-family home in Kingston Springs is currently $450,000.
What does this mean for Kingston Springs?
Compared to surrounding areas, Kingston Springs still has relatively low inventory, which may help cushion us from the more dramatic trends playing out in larger markets like Nashville. With more competition among sellers in high-inventory areas, towns like ours might hold steadier.
That said, we’re not immune to shifting demand or overall market jitters. In this environment, getting top dollar for your home will require two things: strategic pricing and a thoughtful, informed listing approach.
If you're curious about what this means for your property – or just want to chat about market trends – I'm always happy to talk. You can reach me directly at jmahoney.realestate@gmail.com.
