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2023 Local Market Update: Appreciation Up Despite Market Shift

<span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start” Despite dropping from our June 2022 peak of $225 per Sq.Ft. Rutherford County ended 2022 with appreciation up from…

December 2022 Rutherford County Real Estate Update

In November, we saw Contracts down -29.49% in Rutherford County from last year and Closings down -41.92%. Comparing to the month prior, we saw slight dips in Average & Median Sale Price and a slight decrease in Inventory. Price Per Square Foot also continued dropping, now at $211 per sq.ft. This is good news for buyers when paired with interest rates coming down from their early November peak, and sellers becoming increasingly willing to negotiate.

November 2022 Rutherford County Real Estate Update

In October, we saw Inventory more than double compared to last year, despite Listings Added being down year-over-year and month-over-month. Meanwhile prices resumed dropping from their June 2022 peak, somewhat offsetting the spiking mortgage rates which have doubled within a year for the first time on record. Read on for our deep dive into the local Rutherford County housing market statistics.

October 2022 Rutherford County Real Estate Update

In September, we saw Contracts & Closings in Rutherford County both significantly down from last year, and also down from the previous month. Inventory made a huge jump year-over-year, but only slightly over August. Certainly the biggest news this month has been rising rates, but they haven't impacted Supply to the extent we thought they might. Probably the most surprising movement in the data this month is a slight tick back up in Price Per Sq.Ft., after two straight months of downward movement. Read on for our deep dive into the local market statistics.

September 2022 Rutherford County Real Estate Update

In August, we saw Contracts & Closings both drop double digits year-over-year, but both did tick up from the previous month. Inventory is stabilizing, but the biggest thing to watch in our local market remains the relationship between rising Supply & softening Home Values. Median Price Per Sq.Ft. in Rutherford County is now down for the second straight month, currently sitting at $218/Sq.Ft., down 3% from the June peak of $225/Sq.Ft. Read on for John's deep-dive into our proprietary Rutherford County market statistics. 

August 2022 Rutherford County Real Estate Update

In July, the Rutherford County real estate market continued its shift towards a balanced market. Average Daily Inventory jumped +56.81% from last July and +29.69% from last month. That puts Average Daily Inventory at double the April average and nearly triple January's low of 391 single family homes. Meanwhile, as interest rates remained wildly volatile, Contracts and Closings both dropped double digit percentages YOY and month-over-month. Read on for our in-depth look at the most current local real estate data.

July 2022 Rutherford County Real Estate Update

In June, we saw some shifting in the local Rutherford County real estate market. Most notably Active Listing Inventory has jumped 42% from the previous month. Meanwhile, 15.9% of listings reduced their prices in the past 7 days, an average of $14,000. Read on for our in-depth look at the most current Rutherford County real estate data.

June 2022 Rutherford County Real Estate Update

In May, we saw some significant movement in the Rutherford County real estate market. Most notably Average Daily Inventory was up for the first time YOY since the onset of COVID and also up significantly (+35.6%) month-over-month. Meanwhile interest rates dipped, now at 5.09% (30-Year FRM), down from 5.27% this time last month. Read on for an in-depth look at the most current Rutherford County real estate data.

May 2022 Rutherford County Real Estate Update

In April, Listings Added were down -17% from last April, but the good news is Average Daily Inventory is up 12.99% from the previous month. That's two straight months of double digit Inventory improvement. Meanwhile interest rates continue rising, now at 5.27% (30-Year FRM), the highest they've been since 2009. Read on for an in-depth look at the most current Rutherford County real estate data.

April 2022 Rutherford County Real Estate Update

In March, Listings Added in Rutherford County were down -23% from last March, but the good news is they're up +30% from this February. Meanwhile interest rates (30-Year FRM) are currently averaging 4.72% vs. 3.76% this time last month. For reference, the last time rates were above 4.6% was December 2018 on their way back down from their last peak of 4.94% in November of 2018. Read on for our in-depth look at the most recent local market data.