John Jones Real Estate's Broker/Owner presents the March 2011 Rutherford County Real Estate Update, drawn from the official MLS statistics from February 2011 vs February 2010 for Single Family Home sales in Rutherford County, Tennessee.

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Transcript

JOHN:  Hey, John Jones here with another edition of Tuesday Morning Coffee.  We’re talking about February numbers.  Got some exciting news.  Single-family homes under contract this February up 27.7% over last February.  Remember, last February we were also right in the heat in the middle of the tax credit, which we obviously don’t have right now.  So that’s a very good sign, a very encouraging sign.  Another encouraging sign is our inventory is down 11.7%, down 11.7%.  So therefore, our absorption rate has come way down as well.

Actual closings were down a little bit this month compared to last February, but I’m going to tell you what.  I think a lot of closings got carried over to March.  I know in our office, we had many carry over because of the short month.  So we’ll see how March turns out, but I am very, very encouraged by the under contract transactions this month.  I think we’re going to see some good things in the next couple of months when it comes to closed transactions.  Also, it’s an extremely, extremely good time to put your home on the market right now because our inventories are shrinking and we know we’re going to have a run of houses come on the market in April and May because of the spring selling season.

So right now, we have a little void where it’s a super time to put your home on the market.  So anyway, thanks a lot and we’ll see you next week.  Call us if you need us, 867-3020.