“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Jeffry McGee

Jeffry McGee

Blog_tag

February 2008 Wrap-up

03-04-08
Jeffry McGee

There are currently 970 houses on the market in Murfreesboro. In the 12 months leading up to February 2008, 2029 houses in Murfreesboro sold for a monthly absorption rate of 169 houses and an inventory of 5.7 months. In the past 3 months, 333 houses sold for a monthly absorption rate of 111 houses and an inventory of 8.7 months. Clearly, the housing market has slowed down, as it usually does this time of the year, but more houses sold in February than in January.

The average house that sold over the past 12 months is a 3 bedroom, 1 bath, 1,194 sf., $101,096 house. The average house that sold over the past 3 months is a 3 bedroom, 2 bath, 1,771 sf., $162,260 house. The size of the average house sold this month was a little larger than that sold last month and could account for the price increase. However, I would not rule out a slight increase in the cost of an average house.

New construction is underway again in Murfreesboro and I believe this is a sign of the expectation that the market will pick up. More inventory also means lower prices and pair that with lower interest rates, NOW is the time to buy!

0 Comments
Blog_tag

January 2008 Wrap-up

03-04-08
Jeffry McGee

Currently, there are 970 houses on the market. In the 12 months leading up to January 2008, 2,126 houses closed in Murfreesboro. That is a monthly absorption rate of 177 houses and an inventory of 5.5 months. In the last three months, 257 houses closed for a monthly absorption rate of 86 houses and an inventory of 11.3 months. Clearly, the market is slowing down, but that is normal for this time of year.

The average house that sold over the past 12 months was a 3 bedroom, 1 bath, 1,179 sf., $99,151 house. The average house that sold over the past three months was a 3 bedroom, 2 bath, 1,734 sf., $156,638 house. It appears that the trend is to buy larger houses.

0 Comments
Blog_tag

November 2007 Wrap-up

01-06-08
Jeffry McGee
Currently, there are 975 houses on the market in Murfreesboro. From November 30, 2006 to November 30, 2007, 3791 houses closed for a monthly absorption rate of 315.92 houses. From September 1 to November 30, 2007, 765 houses closed for a monthly absorption rate of 255 houses. Murfreesboro's inventory went from 3.1 months to 3.82 months of inventory. This is the yearly, cyclical slow-down and I expect the market to pick back up in January.
0 Comments