April 8, 2018. Murfreesboro TN all ZIP codes
Are you interested in buying or selling a home in Murfreesboro, TN? Check out this snapshot of the Murfreesboro residential real estate market and see below for the explanation. Visit this search to see Murfreesboro homes for sale.
Murfreesboro, TN home sales
As of April 8, 2018, there are only 504 homes for sale in Murfreesboro, TN. That’s a very low number for a city this size and considering the continual population growth. The median list price of those homes is $338,700. That is up almost 6% from the same period last year. This is in line with the general trend of increasing home values in the past 5 years.
347 homes sold in Murfreesboro in the past 30 days. That’s down 9.6% from the same period last year, when we saw 384 homes close. Inventory remains low in all of Middle TN, and Murfreesboro is no exception. Do you see that rabbit next to the Median DOM? Homes that come on the market now get under contract very quickly. The median DOM (days on the market) for Murfreesboro was only 7 days!
My take
Good news for home owners and sellers, but it’s not all bad news for buyers. We are still experiencing the effects of low home inventory – there are simply more qualified buyers than there are available homes at this time. Homes are selling very quickly. In Murfreesboro the median days on the market (the period from listing to getting under contract) is only 7 days. These statistics all reflect the “seller’s market” that Middle Tennessee has been experiencing for the past several years. This isn’t a dire situation for qualified home buyers, though. It just means that there is competition, especially for “starter” and “move-up” homes. Discuss with your Realtor effective strategies for getting the home you want in these market conditions.
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Aaron Lovett is a full-service Realtor in Smyrna, TN, working out of the regional office of Weichert Realtors, The Andrews Group in Murfreesboro, TN. His service area includes Smyrna, Murfreesboro, the remainder of Rutherford county and surrounding areas, including Nashville and Davidson county. He cares for the needs of sellers, buyers, and investors. Aaron has lived in the area for over a decade. He takes pride in helping home buyers and sellers reach their real estate goals.
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