This is a snapshot of the housing activity in the 37932 zip code, inclusive of all the homes (regardless of price). The upper left box indicates the number of Hardin Valley homes for sale. On 19 July 2024, 106 homes were listed for sale on the MLS . This is a rise in inventory compared to the start of the year (January 2024 article). Approximately one third (37) of the available homes are new construction. The box to the upper right shows the recent sales activity. In the past 3 months, 174 homes have sold and this puts us at a pace of 58 sales per month. This reflects the typical churn of the spring to summer selling season.
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 1.9 would indicate that we are in a softer Seller’s Market. If no new homes were added to the market and we kept selling at a pace of 58/month, all of the houses in 37932 would be sold in about 8 weeks. The Hardin Valley real estate market still has more demand from interested buyers than a supply of available homes.
Statistically speaking, sellers with an address in 37932 have a 53% chance of selling within the first month of being on the market. The majority (112) of the 150 homes under contract are new construction. The remaining 38 resales had a median of 15 days on the market. With the start of school just around the corner, everyone should anticipate fewer buyers looking and fewer listings coming on the market because of families focusing on getting their students settled in. This annual slowdown tends to be worse than the holidays (Thanksgiving through New Years) and lasts until Labor Day.
Adam Wilson is a realtor who focuses on homes for sale in Hardin Valley 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.
How reliable are the predictions from Adam Wilson Realty? Check the archives of previous articles!
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