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  • Stay Informed, Stay Ahead: April 2024 Local Market Update

    Stay Informed, Stay Ahead: April 2024 Local Market Update

    In March 2024, Rutherford County saw a notable 20% decline in closed sales compared to the corresponding period in the previous year. However, it is imperative to contextualize this decrease. In January, the adverse weather conditions led to a significant downturn in pending sales, approximately 20% lower than usual due to prolonged periods of snow and rain. Consequently, the subsequent decline in closed sales in March was not entirely unexpected. Moreover, pending sales in March demonstrated a mere 3% decrease compared to the preceding year, indicating relative stability in market activity.
    Written by John Jones
  • Inventory Dips & Price Surges: March 2024 Rutherford County Local Market Data

    Inventory Dips & Price Surges: March 2024 Rutherford County Local Market Data

    A comprehensive overview of the latest housing statistics for Rutherford County from February 2024. Discover key trends, such as declining inventory and the largest increase in median price per square foot we've seen in over 2 years!!! Gain valuable insights into supply and demand dynamics, mortgage rates, and the Federal Reserve's impact on the market. Stay informed and stay ahead in the Rutherford County real estate landscape. Don't miss out on this essential update for all prospective buyers and sellers in Murfreesboro and our surrounding areas!
    Written by John Jones
  • From Snowstorms to Sold Signs: Inside Rutherford County’s Dynamic Real Estate Market

    From Snowstorms to Sold Signs: Inside Rutherford County’s Dynamic Real Estate Market

    The real estate market in Rutherford County experienced a mixed bag of trends in January 2024, with closings seeing a promising 5% increase from the previous year, while listings under contract declined by 20%, likely influenced by two full weeks of adverse weather conditions in Middle Tennessee. Inventory challenges persisted, with a 13% decrease compared to the previous year and a 7.5% decrease from the previous month. However, prices remained stable, and interest rates fluctuated around 7%, with a potential downward trend predicted by experts in 2024. Despite challenges, optimism prevails for Middle Tennessee's real estate market, as the region continues to attract buyers and sellers alike. Read on for our in-depth dive into the most current local market statistics.
    Written by John Jones
  • Year-End Market Stats + 2024 Predictions

    Year-End Market Stats + 2024 Predictions

    Here's breakdown of our local Rutherford County real estate market as we wrap up 2023 and look ahead to what 2024 might have in store. In December 2023, we saw a promising increase in home sales compared to the previous December. Most notably a surge in pending contracts, marking a significant 29.86% rise from the same period last year. This uptick can be attributed, in part, to a slight decrease in interest rates. However, the persistent challenge remains - low inventory, down by 16% from the previous December, and a current 2.65-month supply of homes. Taking a broader view of 2023, we closed the year with 5,723 transactions in Rutherford County, reflecting a 12.67% decrease from 2022. Average days on the market increased from 11 to 29, indicating a shift in the pace of sales. Despite the decline in sales, home prices remained stable, with only a marginal decrease of $2 in the median price per square foot over the last twelve months. Read on for an in-depth look at the most current local market data.
    Written by John Jones
  • Weather Cooling Down / Market Heating Up

    Weather Cooling Down / Market Heating Up

    November brought some intriguing developments in the Rutherford County real estate market. Most notably we saw a sharp decrease in mortgage interest rates. If interest rates continue their downward trend, reaching the sixes and possibly the fives, it will likely result in a surge of buyers entering the market. The issue we're facing is the current lack of inventory will not support that increased demand. With only 900 residential units currently available, our local market is poised for steep increases in home prices this coming spring and summer. Read on for our in-depth look at the most current local market data.
    Written by John Jones
  • Navigating The Shift: Rutherford County Market Update

    Navigating The Shift: Rutherford County Market Update

    In October's home sales in Rutherford County dipped by 8.5%, yet we saw a surprising 5.5% rise in pending contracts. Despite this, the median price per square foot remains stable, reflecting relatively steady home prices since April of this year. Listing inventory mirrors last year, maintaining a balanced housing stock. The seller's market persists, with absorption rates slightly up but still under three months supply. Interest rates, which recently hitting a 20-year high, took an unexpected drop this past week, providing a timely opportunity for buyers. Federal considerations of delaying rate hikes, coupled with declines in oil, rent and auto prices, influenced this shift. Read on for our deep dive into the most recent local market data.
    Written by John Jones
  • Shrinking Inventory Still Driving Prices Upward

    Shrinking Inventory Still Driving Prices Upward

    In August, the Rutherford County housing market saw a slight slowdown in transactions compared to last year. However, shrinking inventory is causing prices to continue trending upward. We're currently only 4.4% off the record number ($225 Median Sale Price Per Sq.Ft.) posted last summer. If rates continue to ease back down, we foresee a surge in market activity causing local home prices to quickly skyrocket to new heights. Read on for our in-depth look at the most current local market statistics. 
    Written by John Jones
  • Local Market Holding Steady Despite Rates

    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.
    Written by John Jones