It's a Seller's Market in Shelby County – the Strongest One I've Seen in Two Decades
When people casually ask me about the real estate market, they're often surprised by what they hear. Nationally, reports are up and down. However, here locally, Shelby County has experienced nothing but up in the last few years and I don't see many signs of it slowing down anytime soon. I've spent nearly two decades in real estate (and another two before that watching my father build a thriving business helping people buy and sell homes) and this current market is unlike any other I've been a part of. And, here's why ...
In recent years, the entry level price range for first time homebuyers was $125,000-$150,000 (see diagram below). In 2016, however, buyers emptied out nearly all the inventory priced at less than $180,000 in Shelby County. As a result, the entry level price range is now between $180,000-$200,000. I can count on both hands how many are currently for sale in that price range (eight, at press time).
The Shelby County housing market is thriving, but it needs more product to meet that demand. That doesn't mean you can simply put a sign in your yard and your house is sold, however. Sellers who want to make a profit need to have a plan, and our agents here at Torrey Smith Realty know how to execute a plan that professionally positions a home to sell at the right price and within a timeframe that matches homeowners' needs.
We go well beyond simply putting the home on the Multiple Listing Service. Our agents use a strategy that includes details and extras that give additional value in the selling experience, including:
• We know what time of the week is best to list and what information makes the listing more attractive to homebuyers.
• We dig deep into our interview process with sellers to determine closing timelines, possession dates and what they are willing to do to meet buyers' needs.
• We use a professional, in-house photographer to get high-resolution photos of each property (Click here for examples).
• We take drone aerial pictures and videos to offer a bird's eye perspective for buyers.
• We develop a pricing structure that helps avoid appraisal issues.
While today's market is the strongest seller's market that I've ever experienced in Shelby County during my 19 years in real estate, it's not a sure thing without a plan. I believe that we have the best plan for getting a home sold, and we're excited to continue promoting our region and building our economy by listing new homes that meet the demands of today's buyers and give home sellers the peace of mind in knowing they are entrusting someone who cares and someone who is equipped to help them make a profit and handle all the details in a timely, professional way. Interested in learning more?