By Hollie Deese
Prices in Sumner County real estate continue to impress, with June posting average single-family home sales over $300,000 for the first time ever, at $308,366. It’s eighteen percent higher than the June 2016 average sale price of $261,010.
Homes were spending an average of just twenty-two days on the market as well, the shortest amount of time in at least a decade.
Residential median home prices have been on a steady increase all year too, $30,000 more in June that in January at $279,900. And it is 17.5 percent higher than June 2016, when the median home sale price was $238,200.
“While these numbers look really great, everyone knows this kind of appreciation in values is not sustainable over the long haul,” says Oliver Barry, president of the Sumner Association of Realtors, of the June 2017 sales stats.
“I look for home prices to stabilize over the next few months as builders catch up a little with demand,” Oliver says.
The Sumner Association of Realtors (SAR) represents nearly 500 members throughout Sumner and Macon counties. SAR is dedicated to serving their members in Middle Tennessee with the products and services they offer and to provide the resources needed for members to gain the professional edge in the real estate industry.
The 2017 SAR officers are President Oliver Barry of PARKS Realty, President Elect Steve Shrum of Keller Williams, First Vice President Wendy Suttle of Keller Williams and Secretary/Treasurer Ed Andrews of Exit Real Estate Solutions.
To learn more, visit sumnercountyrealtors.com.