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Strong Buyer Demand Amidst Shrinking Inventory

The May housing numbers are in for Rutherford County and it looks like we're seeing a similar trend as last month. Closed sales were down by 20 percent compared to the previous year in May, similar to what we saw the month prior. However, the good news is that pending sales only dropped by five percent compared to last May. Here's what's interesting: despite the lower number of sales, inventory isn't really improving. Read on for a more in-depth look at the most current local market data.

Is Another HOT Market Just Around The Corner?

The Rutherford County housing market statistics for the month of April are here. According to our latest data, year-over-year closings were down 27% compared to last April, which was a record April. The median price per square foot, which is used to track appreciation or depreciation, was down 3.2% over last April to $211 a square foot, but it's up $5 per square foot from the previous month. Read on for a more in-depth look at the most current local market data.

Is The Local Market Settling Into A New Normal?

The March housing data is in for Rutherford County, and the numbers show some interesting trends in the local real estate market. Closings were down by -6.63% year-over-year, but up 42.97% from February. Contracts were almost even YOY, but up 8.10% from the previous month. Read-on for a closer look at our local, Rutherford County, real estate data. 

Demand Steady Despite Interest Rates

The February housing data is here for Rutherford County, Tennessee. Closings were down -26.86% year-over-year, but up +22.29% from January. Contracts were down -3.65% from the previous month, but up +9.02% from February 2022. Read more.

Rutherford County Home Prices Trending Back Up

The latest data is here and home prices in Rutherford County are beginning to trend back up. Meanwhile, Contracts also trended up sharply with a +16.67% jump from last January and a huge +72.49% spike from the previous month. All this despite rates currently sitting at an average of 6.09%, compared to January 2022's 3.55% (30-Yr FRM). However, much of the spike in Contracts is due to the local real estate market now having Inventory to sell, with Average Daily Inventory now up +149% over last January.

2023 Local Market Update: Appreciation Up Despite Market Shift

Despite dropping from our June 2022 peak of $225 per Sq.Ft. Rutherford County ended 2022 with appreciation up from the previous year. Read on for our in-depth look at the December 2022 market statistics and the year-over-year local market data comparisons. Thank you for spending a few minutes of your time with us!

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.