December might have just started, but the broader trends in Smyrna real estate for the past year are already quite visible. Over the course of the last year, the Smyrna real estate market has seen a continuing trend of increasing home values, which should be good news for people who might be considering putting their homes on the market in 2018.
Another good aspect of this trend is that it has been a slow, steady one that has continued over the past three years, which means that properties haven’t gotten expensive enough to make Smyrna unaffordable for first-time buyers, or for people who are just looking for something practical to call their own.
Over the course of 2017, according to Realtor.com, the median listing price rose from $295,000 up to $324,000 by the time September’s numbers came in. The median prices for the last three months of the year aren’t available yet, but there’s been little fluctuation over the last three years in that trend. In October 2014, the median listing price was $250,000 and values have gone up in a very steady line since then.
Median days on the market declined to 48 days during the middle of 2017, but by the end of September, it had climbed back up to 66 days, the same point where it was at the beginning of 2017. Median days on the market varies from month-to-month, but the three-year trend has been for homes to spend fewer days on the market, overall.
Is it a Good Time to Buy or Sell?
Smyrna’s real estate market has seen a nice, steady increase in property value over the past three years and over the past year, as well. Right now, buyers enjoy the advantage of being able to purchase homes that are available at several different price levels, but that have shown a tendency to increase in value over time.
The overall forecasts for 2018 predict more home construction and properties continuing to appreciate in value over the course of the year, as has been the trend for several years now. If you’re looking to buy, it’s a good time. Prices aren’t so high that anyone is really priced out of the market but, at the same time, with home values predicted to continue increasing, those who are looking to invest in their first piece of Smyrna real estate are poised to do well!