This is a snapshot and analysis of the real estate activity in the Hardin Valley zip code of 37932, inclusive of all the homes (regardless of price). The upper left box indicates the number of Hardin Valley homes for sale. On 20 July 2020, there were 90 homes for sale in Hardin Valley listed on the MLS . The box to the upper right shows the recent sales activity. In the past 3 months, 167 homes have sold and this puts us at a pace of a rounded 56 sales per month.
In the lower left box, this is known as the absorption rate. It is a fancy term for a number that helps us judge whether the market is a Buyer’s Market (higher than 6), a Seller’s Market (less than 6) or Balanced (6). Hardin Valley’s absorption rate of 1.6 would indicate that we are still in a Seller’s Market. If no new homes were added to the market and we kept selling at a pace of 56/month, all of the houses for sale in Hardin Valley would be gone in less than 2 months!
Even though the market has 90 properties for buyers to choose from, this is not enough to meet the demand of the market. Historically low interest rates have given local buyers lots of purchasing power and we continue to see heavy migration from California, New York, Illinois and Michigan amongst other states moving to Tennessee. Statistically speaking, sellers with an address in 37932 have a 62% chance of selling within the first month of being on the market. The average house sells much faster but the time on market is skewed by the new construction homes that take longer to sell through the building process. Anticipate a slow down in the month of August with families focusing on getting kids back to school (classroom or virtual). We should see fewer sales and fewer new listings though much of this data will not be reflected until we look at the numbers in September. It’s been my observation that the market gets its momentum back by the weekend after Labor Day.
Hardin Valley homes continue to be a hot commodity because of our schools (Hardin Valley Elementary, Hardin Valley Middle and Hardin Valley Academy), convenient location and new construction of both homes and businesses. Check out my37932.com to see all about our great educators, restaurants and shops.
Adam Wilson is a realtor who focuses on the Hardin Valley homes for sale and helps all sorts of people whose housing no longer fits their current lifestyle. He listens to their needs, gets them out of their current place and into just the right house so that home can be a place they want to be.