Snapshot of Dyersburg Tn real estate market March 2, 2009!

This morning when I got into the office I pulled up the solds for our MLS last week. There were actually 4 solds that came up for the last 3 days.

I did an analysis of this data down below

The house located at 225 Empire was originally listed for $154,000 and was on the market 231 days. This house was finally reduced to $149,900 and sold for $139,00 after closing costs were paid for buyer. This price is 95% of the state accessed value.

The house located at 875 Wesley was listed for 219 days with original list price of $132,900 and reduced to $114,900. The house sold for $103,000 which is 87% of the state accessed value of $118,400.

The house listed at 733 St. John was on the market 84 days with original and only list price of $64,900. This house sold for $63,500 which is 93% of state accessed value of $68,500.

The house listed at 675 Andrea was on the market 255 days with an original list price of $91,500. The final sales price after deducting closing costs paid for buyer was $83,300 which is 92.5% of the state accessed value of $90,000.

Here are the results of my analysis:

1. Houses listed too high remained on the market a long time.

2. If you throw out the high and the low sales price to state accessed value % you end up with about 92.75% of sales price to state accessed value.

3. Houses sold and financed with government backed loans like THDA or FHA generally sold a little higher % than the average I came up with here.

If you are considering selling a home in the Dyersburg area, generally speaking the value will be somewhere in the 90-94% of state accessed value.

It appears that the Dyersburg Tn real estate market is starting to pick-up and for houses priced at or near their real value, these should sell within 3-4 months.