Tennessee, found in the Southeastern region of the United States, belongs to the upper half of the most populous states in the country. It is one out of the 50 states in the country that rises in numbers when it comes to real estate. Like other states and cities, the real estate market in Tennessee often depends on its seasonal producer and consumer bond.
Many factors coexist when it comes to selling your home – specifically in a particular state. One of these factors is the season of the market. However, seeking the right timing can assist you in estimating the price you may get and the duration of your sale in the market. “We Buy Houses For Cash” companies can also be one of your buyer options for quick and reliable transactions.
The June Hustle
The real estate industry acknowledges June to July as the most productive market Tennessee can offer. According to Redfin Data Center, in 2019, Tennessee sells a home within seven days of market exposure with an average sale price premium of $12,900. The Sale Price Premium determines the difference between the median home price in an average month and the yearly median sale price. Therefore, selling your house in these seasons can benefit you a thousand times better value than marketing it in the off-season.
The Market Exposure
The average duration of market exposure of houses in Tennessee varies per month. It is one reason why June to July is the best season to make a house sale. The median Days on Market (DOM) is the difference between the average DOM per month and the yearly average DOM within the state. On average, Tennessee holds an annual median DOM of 59 days. However, from June to July – it peaks less than 6-7 days (52-53 days on the market).
Determine Your Season
Selling your house can ultimately profit the most if you label it on sale during the in-season months. However, it would help if you remembered that the deal should always start with the intention. If you are on a time crunch and need financial assistance, selling it from June to July can be the best decision to make. On the other hand, if you opt for a slow burn type of sale and you have the luxury of time in your hands, you may put a schedule on your sale. You have to carefully choose your options since many market offers can be a once and a lifetime opportunity.
It is essential to know the proper seasons for selling your home. Even if your intention is not accepting the best price on the table, being able to determine the peak season of house sales in your specific state helps you have a practical decision. Whether it is good in your situation to sell your home on a fast-paced or slow-burn process, the last call should always be yours.