Realtors see home buying boom in suburbs as school approaches
(Germantown, TN) As parents scramble to get their children ready for the upcoming school year, Realtors are also scrambling the Shelby County suburbs.
“The housing market is really strong right now. We have a supply and demand issue and a lot of houses aren’t even staying on the market a week,” said Crye-Leike Real Estate Agent Lisa Harris.
Harris says a lot of houses are being sold by word of mouth before they’re even listed.
Sales in two particular suburbs are soaring.
Compared to this time last year home sales are up 20% in Collierville and more than 14% in Germantown.
“We’re running into a wonderful situation with multiple offers,” said Harris.
In August, suburban schools will open for the first time since breaking away from Shelby County Schools.
Harris believes this is a big source of the boom.
She said people have been waiting to see what would happen with schools.
“Schools have always been a large part of the housing decision and now that that`s settled people are very comfortable in making that decision,” said Harris.
Shelby County School Board member Kevin Woods said this doesn’t necessarily negatively impact Shelby County Schools.
He said the suburban boom still has a positive impact on county schools because families will still be paying county property taxes which fund county schools.
According to lenders, real estate is picking up slightly across the entire county .