July Market Update
In this video John presents the official MLS statistics from July 2011 vs July 2010 for Single Family Home sales in Rutherford County to help give you an idea of what is happening in the local marketplace right now.
JOHN: Hey, guys. John Jones here with another edition of Tuesday Morning Coffee. Today, we’re going to talk about the July numbers. They were very encouraging. In July of 2011, we were up 8.6% in closings of residential single-family homes in Rutherford County. That’s over July of 2010. Our pendings were up 17% over July of 2010. Our inventory’s down about 2%. I’d like to see that come down a little bit more over July of 2010.
Our year-to-date numbers, we’re still down 20% over the same time last year. The end of July last year, we closed 2,010 properties, residential single families. This year, 1,662. That’s approximately 20%. It’s going to be interesting how the rest of this year goes. I feel like it will trend kind of like July did, maybe even a little better. If that happens, we’ll get very close to equaling last year’s numbers and not going down that significant amount or it might be pretty close.
I think that last year we did 3,165 residential sales. Right now, we’re at 1,686. So if we can still increase over last year, 15 to 20% every month, we’ll hit the numbers from last year. So the only other average sales price for 2011 in Rutherford County was $166,638. That’s down $4,000 from last year at the same time of 170, $170,887. If you need us for anything, please give us a call, 867-3020. Thank you.