Dyersburg TN,38024
The real estate market in Dyersburg is improving according to the latest numbers provided by the Dyersburg MLS. These numbers reflect the data for the city of Dyersburg only.
In January of this year (08) there were 11 new sales verses new listings of 21 for a percentage sold of 52.38%.For the same period last year there were 15 new sales with new listings of 36 for a percentage sold of 41.67%. That reflects an improvement in sales with a decline in new listings(signs of improving market)
Other improvements noted in our MLS data is(days on market). In January 2007 the DOM was 136 and for the same period in 2008 was 134.
Still another improvement is the sales price/list price ratio. For January 2007 that ratio was 95.66% and in same period 2008 it is 96.17%.
Here are some other numbers for this time period of January 2008.
Average list price sold-$103,618
Average sale price sold-$99,651
Today, there are 181 active single family listings in Dyersburg with an average list price of $103,947.
Earlier this month I did a post about the Dyersburg real estate market conditions and another post about the market as we were closing out 2007 and entering 2008 .
Copyright © 2008 By Mike Frazier, All Rights Reserved. *Real Estate Market Conditions for Dyersburg for month ended January 2008*
With the Dyersburg Tennessee real estate market still doing well, I wanted to take the time to mention two top neighborhoods that are relatively new subdivisions here. The first one Camelot Subdivision was developed and new construction started in early 1998. Three streets comprise Camelot. They are Sandra Drive, Sir Lionel and Sir James. The prices for new homes in this subdivision began in the high 80's and low 90's. Now those same homes are bringing in the 120's and 130's and some new homes as high as $160,000. This is a subdivision that I consistantly sell homes in because of the great location and always high demand(good resale potential). The last house I sold in this area was 2 and 1/2 months ago for a price of $156,000 and has 1835 sq feet heated and cooled area. This guy works across the river in Blytheville.This home last sold for $127,600 in September 2001(it was a new house). This is a hot area with big demand.
This is a current listing located at 1020 Sir James.
These two pictures are of 910 Sandra Drive(two car garage) priced at $135,000. I sold this back in 2003 for $119,900. The next picture is of 825 Sir Lionel and it is priced at $109,900. Both are currently available!
Early in 2000, another new subdivision was developed right next to Camelot Subdivision. That subdivision is called Castleton Estates. Those homes started out in the high 90's-low 100's but now are selling in the $110,000-$145,000 range. A close friend of mine just relocated to Oklahoma from this subdivision. He lived at 824 Wesley Drive. My friend paid about $105,000 for this house new in January or February 2002. Mark did finish out the attic to add to his heated area but we sold this house on 9/13/2007 for $145,000. Currently there are no active listings in this subdivision.
Everytime I have clients looking in the price range of $110,000-$160,000 and they want city convenience and a newer area, I always take them to Camelot or Castleton(if there is anything available). Many workers from across the Mississippi river live in this area. I also take new members of my church to this area since it is such a great area.
I will return here periodically and update what is available so please come back!
If you want to search for current listings in either of these subdivisions, click here for Camelot and here for Castletonestates
Copyright © 2008 By Mike Frazier, All Rights Reserved. *Here are 2 great Dyersburg neighborhoods!*
I was inspired today to write this post for the benefit of my readers who are planning a move to our area of northwest Tennessee. Today, I was out showing properties to a (relocating in) doctor and his wife. This was our 4th trip out to view properties.After viewing 4 homes we returned to the office for some research on prices paid, current comps and tax appraisals.
The home they really liked is priced in the $280's. After pulling the comps, this home is worth about $278,000. This doctor made the statement that real estate is bad everywhere and we should just about be able to steal this nice home. Let me tell you right now any potential client reading this; our market is not bad and our prices are not free-falling and there is still good demand especially in the higher price ranges. I will admit we have had our share of foreclosures(mostly subprime loans in price range $40,000-$70,00) but the Dyersburg Tennessee 38024 real estate market is really doing quite well.
Please read this earlier post about the final sales numbers for 2007 for the Dyersburg,Tn area.
So how do you get that "warm and fuzzy feeling" when purchasing a home in the Dyersburg,Tn area? First of all you solicit the help of a professional Realtor(Dyersburg relocation website) that has your interest at heart and ask for references and a list of homes he or she has helped buyer clients purchase. Secondly, you ask to look at homes in neighborhoods that have a good track record, and lastly you ask "your realtor" to do a market analysis for any homes you consider making an offer for.
If you are moving to the Dyersburg area I would be happy to help you find a home that is right for your family and I will personally make sure you do not overpay for your new home. However, if you are wanting to "steal" please select another area of the country for that!
Copyright © 2008 By Mike Frazier, All Rights Reserved. *Relocating to Dyersburg,Tennessee area-What is the market doing here-Sorry, no stealing here!*
A few days ago I compiled the final sales numbers for the real estate market here in northwest Tennessee. That post can be reviewed here.
If the activities of myself and my agents are any indication of what 2008 will be like, then Carousel Realty should have a banner year. For the last two Saturdays several of my agents(including myself) have been showing property and writing contracts. In years past when the market is slow, our Saturdays are usually spent with our families.
There is one observation I would like to make also. Some people moving here from out of state believe that the Dyersburg market is like what they hear about on the news. That is just not the case. Although our numbers are down some, actually our market is still pretty healthy.
The price range of $150,000-$300,000 is actually not losing any value at all. There is a pretty good demand in Dyersburg for this price range in good locations. My clients from this past Saturday are looking to purchase in a good area somewhere between $200,000 and $300,000. We did find several homes to pick from in that price range including several fsbo's that I knew about. I hope to negotiate a contract for them this week.
Dyersburg is a growing city with new industries and jobs available. I talked to a the personnel manager for Quebecor World yesterday(at church) about availability of jobs and she said she is still hiring. There are several factories in or near Dyersburg that are looking for workers. Goodyear in Union City(25 miles away) is hiring and other local plants are also hiring. Also, many of the plants just across the Mississippi River are also hiring. A big percentage of those workers call Dyersburg home. For more information about the Dyersburg area I invite you to visit our Dyersburg relocation website.
With jobs come growth. Dyersburg Tennessee is growing and the real estate market is doing pretty well.
Dyersburg Tn 38024
As promised here are the sales numbers primarily for the Dyersburg real estate market. Last year I reported that total real estate sales increased about 1.7% over 2005.
For 2007, the residential sales in Dyersburg(only) volume dropped 4%. However in the outlying cities and towns that we service also, volume dropped by 1. Newbern - 15% 2. Trimble - 89% and all of Dyer County down 24%. Most of this volume drop occurred in the second half of 2007(sub-prime mortgage meltdown).
The average sales price in Dyersburg for 2006 was $108,410 but that increased to $119,747 in 2007.
Although Dyersburg residential sales dropped 4%, commercial sales actually increased by 42% from $2,502,500 to $3,545,000. Multifamily sales increased by 36% from $877,251 to $1,197,176.
After crunching all these numbers, Dyersburg(only) had an increase in total sales of $124,283, from $27,502,033 to $27.626,856. That is an increase of about 1/2 percent.
When you compare a drop of 4% with the national average drop of well over 10%(much higher in coastal areas) you can see that Dyersburg is doing pretty well indeed.
The dynamics are in place for The Dyersburg area to continue growing. With a new riverport under construction, great roadways(including eventual I69 through Dyer County) , a very progressive chamber of commerce, new industries, current factories that are hiring, other new businesses and restaurants, etc. Dyersburg is on an long upward spiral.
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My specialty is working with buyers & sellers in the Dyersburg area. Much of my new business comes from internet marketing. I also get a lot of repeat business & referrals from past clients. Thank-you
After graduating high school, I entered the Air Force and travelled around the world. After serving 4 years and being honorable discharged, I went back to college and received a business degree in management. I got my real estate license in 1992 and began not only working with clients but also buying rental property. Soon after that I got my residential contractors license and built many many quality homes. Just recently I retired that license to devote 100% of my efforts to helping buyers and sellers.
I am married(for 27 years now) to Gail Berry Frazier and we have 2 beautiful daughters Lauren 15 yrs and Erin 12 years old. I am so proud of my wife and daughters and let me tell you they are my whole life; second only to God!
Also, I am very proud to be the first and still only realtor here writing online about the Dyersburg real estate market. In addition to staying abreast of the real estate market here, I also actively seek out the latest information in marketing strategies.
I am working very hard to make my mark in the Dyersburg real estate market while putting the needs of my clients above my own. My business is built around trust and as a result I receive many referrals. In 1998 my new company was formed(Carousel Realty of Dyer County) and currently I have 7 agents and a trainer. My trainer and I spend countless hours teaching our agents how to sell real estate but more importantly how to take care of their clients.
My area of expertise is relocating out of town clients into the Dyersburg,Tn area. My agents and I also list residential and commercial property here in West Tennessee. I love my job and love to help my clients with their housing needs.
I also have a passion for selling waterfront property here in West Tennessee. We have two main areas that are waterfront-Lakewood(5 lakes) and historic Reelfoot Lake.
Also, our company works with all the major relocation companies relocating clients into the Dyersburg real estate market area. We relocate people from the Reelfoot Lake area to just south of Ripley,Tennessee. The map of our coverage area can be viewed here along with information and listings for Dyersburg real estate.
Halterman Testimonial
Mike asked us if we would give him a recommendation regarding our home purchase. We are Jeff and Teresa Halterman and we just moved to Dyersburg,Tennessee from Mississippi. We closed on the purchase of our new home on Hwy 78 just yesterday (Oct. 4, 2007).
Teresa gave Mike a long list of possible homes but Mike helped her discard several before we even looked. We spent one entire Tuesday looking at homes(list narrowed down to 8). Teresa kept saying, "this house is just too small" or "I just do not like this location". We completed looking at the entire list of homes at 1:30 and we went to lunch. Mike gave thanks for the food and then asked the Lord to help us find a home!
We returned to Mike's office for one final look through the MLS and Mike came up with one listed home and one unlisted home that he knew the owners were getting ready to sell. Mike set appointments up for both and we were off to look. When we walked into the home on Hwy 78, Teresa smiled at me and said, "this is the one".
This is the first time a realtor has been able to help us find and buy a home on the first day looking. Mike was very patient and very professional. He is definitely one fine realtor. We highly recommend Mike Frazier and Carousel Realty. Thanks again Mike for a job well done!
Hansford Testimonial
My name is Kathy Hansford. Mike Frazier and his team at Carousel Realty just helped my family buy a home. I have been wanting to own a home for quite some time and finally talked my husband into getting serious about purchasing. At the top of my list was buying in this one neighborhood. My husband is very detailed and methodical and his list for my new home was very long.Guy is an appliance repairman by day and an home inspector by night (at least he was when we were looking to purchase a home). Mike found us a great home in my chosen neighborhood. Not only was Mike very patient with my husband as he inspected (everything) but we also found him to be very professional and he made our purchase process go very smoothly. I recommend him to anyone considering a purchase in the Dyersburg area and will be glad to talk to you personally about our purchase. Let Mike know you desire to talk to me and he can arrange that for you.
Reisner Testimonial
Hello, I am Mark Reisner and my wife's name is Lori. About 3 months ago, I employed Mike Frazier with Carousel Realty to sell our home. We lived on Wesley Drive(one of Dyersburg's newest subdivisions).We debated trying to sell by owner but I got a job offer in Tulsa,Ok that I could not turn down and we had to be in Tulsa by the August 10th.
Mike did a market analysis and told us where to position our home on the market. He stated that if we price it where we did, it should sell within 90 days.We had several showings before we left for Tulsa but the home sold about 3 weeks after we left. Mike had it on the market for 86 days. Another agent in his office made the sale but Mike was really skillful in his negotiations on our behalf. We are now homeless in Tulsa; but are purchasing very soon.
Thanks Mike for a job well done!
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