Kingston Springs Housing Market Update: October Recap
One of the biggest shifts in the residential real estate market over the last few weeks has been a welcome decrease in interest rates.
Interest Rates, Inventory, and an Active Fourth Quarter!
One of the biggest shifts in the residential real estate market over the last few weeks has been a welcome decrease in interest rates. Mortgage rates have dipped to roughly 6.17–6.3% for a 30-year fixed, modestly boosting buyer activity across Middle Tennessee. Inventory in the Nashville metro area continues to expand, giving buyers more choices and greater negotiating power, while sellers are facing longer market times and increased competition. Home prices remain mostly flat and vary significantly by neighborhood and price tier rather than moving uniformly up or down. For buyers, this creates a better window to negotiate and secure attractive financing, though affordability still remains tighter than in recent years.
Locally, Kingston Springs recorded five single-family home closings in October. The median price point for single-family homes is hovering in the high $400,000s, with a three-month moving average at $470,000. Continuing the trend from the past several months, Kingston Springs experienced further inventory growth — reaching a new five-year high for available homes on the market.
Typically, as the holidays approach, buying activity slows down. But with interest rates at their lowest levels in a year, showing activity actually increased heading into the fourth quarter. If rates continue to decline, we could see additional bursts of buyer activity, helping to create a more balanced market heading into the new year.
One of the questions I have been getting a lot lately: “Is this a bad time of year to list my house?”
The short answer? Historically, yes. But this year may be different. There’s a lot of pent-up buyer demand, and continued rate declines could motivate buyers to act — even in what’s usually a slower season. That being said, things can still move quickly this time of year. Just don’t forget to tell Grandma you moved before she drops off the fruitcake on Christmas!
If you have questions about selling your home or are curious what your property might be worth, reach out for a no-obligation home valuation or strategy session. I’d love to chat and help you make a confident move.
Jack
jmahoney.realestate@gmail.com
