Is It Still a Good Time to Buy or Sell?

Here’s why it’s still a good time to buy or sell a home here in Memphis.

Lately, many people have been asking how the real estate market is doing. Since it’s already back-to-school time, some people are wondering if they’ve missed the best market to buy or sell. 

You may have watched the “Million Dollar Listing” shows and gotten nervous. In those, the market is shifting toward more of a buyer’s market. But the Memphis area is a little behind the trend in this case, and that’s good. We’re still in a seller’s market; the National Association of Realtors defines a balanced market as having a five-month supply of homes, and anything below that is a seller’s market.

"We’re blessed with an excellent market in the Memphis area."

We currently have only one month of supply here in Memphis. The submarkets are as follows: Downtown has one month of supply, East Memphis has 24 days’ worth, Bartlett/Arlington/Lakeland have only nine days, Cordova has 12 days, and Germantown and Collierville have only 17 days’ worth. 

If you have a home you’re considering selling or know someone who is, it’s still a great time to sell. Interest rates are also still extremely low, so it’s not a bad time to buy either. We’re blessed with an excellent market in the Memphis area.

If you’re thinking about buying or selling or have any questions, give us a call or send an email. We would love to help you.