July 16, 2018. Rutherford County, TN (Murfreesboro, Smyrna, LaVergne, etc.)
Are you interested in buying or selling a home in Rutherford County, TN? Check out this snapshot of the residential real estate market in Rutherford County and see below for the explanation. Visit this search to see homes for sale in Rutherford County.
Rutherford County, TN home sales
As of July 16, 2018, there are only 940 homes for sale in Rutherford County, Tennessee. Many of the homes on the market are new construction, some of which won’t be available for occupancy until later in the year. The median list price of homes for sale is $329,900. We are continuing the general trend of increasing home values in Middle TN over the past 5 years.
558 homes sold in Rutherford County in the past 30 days. That’s down 5.6% from the same period last year, when we saw 591 homes close. Inventory remains low in all of Middle TN, and Rutherford County is no exception. Do you see that rabbit next to the Median DOM? Homes that come on the market get under contract quickly. The median DOM (days on the market) for Rutherford County was only 7 days. This is slightly slower than previous months, but still very quick compared to more balanced markets in other parts of the country.
There is good news for home owners and sellers, and challenging for anyone wanting to buy a “starter home” or “move up home” in Rutherford County, TN. The areas of Smyrna, Murfreesboro, La Vergne, and Christiana are all seeing rapid home sales. Homes are selling very quickly. The median days on the market (the period from listing to getting under contract) is only 7 days, so buyers and buyer’s agents need to be organized and effective in making offers on homes.
While there is some indication that the market is starting to balance out, we are still in a seller’s market. We are still experiencing the effects of low home inventory – there are simply more qualified buyers than there are available homes at this time.
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.
What would your home sell for? Find out here!
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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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