Powell, TN home prices and housing market

Here in Powell, sellers are asking about forty thousand dollars more than the typical home is actually worth. That gap between asking and worth is the number to understand if you are thinking about selling this year. Start with the good news. The typical Powell home is worth about three hundred sixty-two thousand dollars, up about two and a half percent over the past year. Values are still moving up, not down. But look at what sellers are doing with that. The median list price sits just under four hundred thousand dollars, well above where homes are actually valued, and buyers are not chasing it. Homes are taking about fifty-three days to sell, and nearly a quarter of the listings on the market have already cut their price. Meanwhile supply keeps coming, with fifty-two new listings added to the eighty-four homes already for sale. So here is the takeaway. This market rewards a seller who prices at the number and punishes one who prices for the wish. If you come in near four hundred thousand dollars without the house to back it up, expect to sit for weeks and then cut. Find out what your Powell home is really worth with a free estimate at Home Value Pros dot com.