August, 2017
Enjoy our Gallatin TN Real Estate Market Report for this month. If you like you can do a home search and save your favorite properties. You can also set up a specific search and be notified as soon as a matching home hits our database. It’s Exclusive for You!
WHAT’S YOUR HOME WORTH? GET AN QUICK EVALUATION
The Gallatin Housing market shows a slight decrease in price over 2016. This is most likely due to several multi-million dollar properties having sold in 2016 that caused the numbers to vary slightly.
Here’s a look at the Gallatin Real Estate Market for this month:
From August of 2016 to August of this year, the average price of homes in Gallatin went down slightly over 4%.
There were 95 single family homes sold in August, 2017 with an average list price of $326,805 and a sales price of $321,044. This indicates that homes are selling for approximately 98.5% of their asking price…with an average of 27 days on the market. The average price per square foot is $133.93.
In August of 2016, we saw 114 sales, with the average list price of single family homes at $340,868.00…and an average sales price of $335,588.00. This is very little change from this year’s numbers of homes selling at 98.5% of their list price. The average price per s.f. was $123.05 with 31 days on the market.
So, even though the average prices have decreased somewhat, we are still in a strong seller’s market.
What Does this Mean for Buyers?
It means to get serious if you want to buy a house because they are selling quickly. Have your finances in order with a pre-approval letter in hand. Know what you want and be prepared to move when you find the right house. You’re not going to find a lot of ‘steals’. Sometimes, in a seller’s market, a good deal is actually finding a house that you love and are able to buy it before someone else does.
What Does this Mean for Sellers?
It also means to get serious! This is the time to act if you plan to sell your house in the immediate future. For the best price, get it in tip-top shape – paint – fix – clean…whatever you need to do. And be prepared to move quickly, because you just might get a cash offer with someone who wants to move in right away. Take advantage of this market!!
View the Hendersonville Market Report
Gallatin TN Condo Market Report
We have very few condos compared to single family homes in this area. But a quick review shows that in 2017, there were 5 condos/townhomes sold in Gallatin. These units had an average list price of $221,540 and a sales price of $225,773. This shows a higher sales price, most likely due to these being new condos with upgrades added to the sales prices.
August, 2016 saw 13 Condos Sold with an average list price of $190,506 and average sales price of $187,933.
Be sure to call or contact us with any questions you have…or if you are ready to begin your home search! We look forward to hearing from you.
Showing below are averaged-priced homes for sale in Gallatin TN with all listings being under $325,000.