January 2009 Rutherford County TN Market Report

December 2008 Rutherford County TN Market Statistics

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Interpreting the Rutherford County State of the Market Report

The best way to describe the current state of the Rutherford County real estate market is down, but steady. 

For pretty much the entire year, unit sales have held at about 30 percent lower than in 2007.  Through April, total residential sales stand 32 percent below the same period last year.  For the month, total closed sales were down 35 percent.

An area that warrants monitoring is the average days on the market, which continues to hover close to 90 days, up from 69 in 2007, although Condos are selling more briskly in 2008 than they did last year.  Also, the total number of expired listings is up 75 percent, which likely means that many home sellers have become unrealistic about how much their house will bring on the open market.

With April having more average listings per day and more total new listings this year than in 2007, Rutherford County remains a strong Buyer’s Market, with plenty of listing inventory for prospective home buyers to choose from.

Without a doubt, the market has shifted and there remains downward pressure on prices.  The good news for sellers is that those who take steps to get their homes in great condition and price them correctly continue to sell them quickly–in less than two months in many cases.  When buying or selling in this type of market, it is more important than ever to have working for you a strong agent or team who knows how to get transactions closed.

If you’ve been thinking of buying or selling your home, give the Jones Team a call at 615-867-3020 or visit us on the web at JohnCJones.com.

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March Rutherford County TN (Murfreesboro) Real Estate Market Report

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February Local Market Report

For more info please visit our website http://www.MiddleTNHomesource.com

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