That’s what the Commercial Appeal confirms this December 13th. You want to sell your local Memphis,Tennessee home and you want to do so quickly. Right? We have great news for you, home sales in the Memphis area housing market continue to drop though inventory at 30% is slowly rising, according to new data from the Memphis Area Association of Realtors.
Unfortunately, homeowners who need to sell their home fast realize that this season may not be good to move. But if you’re buying a house in December or January, they “typically cost 8.45% less than they do in June and August, according to a study from NerdWallet. Winter is usually the cheapest time of year to purchase a home. Sellers are often motivated, which automatically translates into an advantage to you. Sellers who do list at christmas season usually want to sell as soon as possible because they want to start their new year without going through all the process that sell a home demands. They may even be more willing to throw in extra perks such as appliances and window treatments.
However, as you’ve seen in our local Memphis real estate market… the market is changing on an almost monthly basis. Here is some information about it. (Commercial Appeal, 2022).
How many Memphis -area homes were sold in November?
There were 1,202 home sales last month, compared to 1,723 homes sales in November 2021. Overall, total home sales in the Memphis area this year through November 2022 are down 9.1% from the same period last year. There have been 18,612 home sales this year through November, a decrease from the 20,484 homes sold through November 2021. (Commercial Appeal, 2022).
What was the Memphis Tennessee-area median home sales price in November?
Through the first 11 months of 2022, the median home sales price for a house in the Memphis area was $220,000 — a 7.3% increase from the median price of $205,000 for the same period a year ago. (Commercial Appeal, 2022).
How many active listings are in the Memphis Tennessee area?
Local housing inventory rose by more than 50 from October to November, according to MAAR. That’s an increase of 52 from October’s 3,054 reported active listings. Inventory is 758 higher compared to November’s 2021 total of 2,348. (Commercial Appeal, 2022).
4 Reasons why December is the perfect time to buy a house in Memphis.
- Lower Buyers Are in the Market: When there is a lot of interest in a property, a buyer has less negotiating power, that’s why in this season you will find less competition for the home you want, many people put off house hunting for a few months.
- You will close quicker: Lenders and mortgage brokers won’t want to start their holiday break with tasks hanging over their heads. A strategy that most loan offices use is to pay per file close, this helps to make the process smoothly and faster during the holidays.
- Capitalize on end-of-year tax savings: As long as you close before December 31st, you’ll have a lot more that you can write off on your taxes during the same calendar year.
- Sellers may be more generous: Sellers would be in a more giving mood.It’s a time when folks are more likely to make compromises or throw in some extras just to make the season extra merry and bright.
How to sell your home quickly in Memphis Tennessee?
Seasonality tends to affect factors such as the number of homes for sale and purchase price. During spring, inventory is plentiful, but competition among buyers may cause prices to rise. By contrast, home prices may be lower during winter, but inventory is usually limited. And moving in may be more difficult, depending on the weather.
You can bypass all these steps quickly and easily by selling your house to a local real estate investment company for cash. At Memfixerupper, that’s exactly what we specialize in: buying homes fast for cash.
Homeowners who simply don’t want the hassle or who don’t want to endure the long wait times but just want to sell their home quickly can do so with one phone call to 901-450-5179.
This is perfect for homeowners who are in financial distress and cannot wait too long to sell their home IF the market will buy it. And, it’s perfect for homeowners who are facing some other crisis, such as a divorce or death in the family. When these events happen, the last thing you want to do is think about painting the house so it’s perfect for someone else! It’s much easier to simply pick up the phone and sell your house with one phone call.
This special time of year is different from spring and summer months when the real estate market is at its peak. Haven’t made your holiday wish list yet?
Want to sell your Memphis house fast with one phone call?
It’s easy. Call us at 901-450-5179 or fill out the form to get more information.
For more information click here: https://www.commercialappeal.com/story/money/business/2022/12/13/memphis-real-estate-market-2022-prices-sales-inventory-november/69715359007