Happy New Year!
I hope you had a safe and healthy holiday season and are ready to embrace all that 2023 has to bring.
The numbers for 2022 are in and it’s clear the pandemic boom has settled us back to a more “normal” market. While median prices are still up year over year, volume and inventory are back to 2018-19 levels, which is still a healthy market – just not as overheated as 2020-early 2022. The year-end stats are from Davidson County as well as the surrounding counties of Cheatham, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson. The median numbers provided are for Davidson only, but I’m happy to provide other county median prices for you if you are interested. Just email me here.
What does this mean for 2023? As many of us have been saying, Buyers will finally see some relief from the intense competition for homes. More inventory to choose from is a good thing. Builders have begun offering incentives again, and inspections and contingencies are back – hooray for balance!
Interest rates shot up above 7% but have been settling back down. Seems high compared to the last few years, but historically – not bad at all.
While there was cooking over the holidays…very little photographic evidence. I did manage to capture my first attempt at angiolotti, but little else!
Until next time!