Local Market Holding Steady Despite Rates
The local real estate market continues to hold relatively steady despite rates. In July, contracts in Rutherford County were up +20% YOY, while closings were down -11.5%. Currently we're down -17% YTD in closed sales compared to 2022. Median price per sq.ft. is hovering, back up slightly to $212. Inventory rose for the fourth consecutive month, but 50% of the active inventory is construction.
