Murfreesboro Real Estate Report – Week Ending November 24, 2025

As we head into Thanksgiving week, the Murfreesboro and Rutherford County real estate market continues to show steady activity, tightening inventory, and shifting mortgage rate trends. Each week, I pull the latest numbers to help buyers and sellers understand what is really happening in our local Middle Tennessee market, not just what you see in national headlines.

This report covers the week ending November 24, 2025.

Watch the full Murfreesboro Real Estate Report on YouTube:
https://youtu.be/O7AgiS46S2o

Inventory Tightens Across Rutherford County

This week in Rutherford County we saw:

• 1,481 active homes
• 117 new listings
• 102 homes under contract (pending)
• 94 closings
• 100 listings expired or withdrawn

Over the past 90 days, a total of 1,320 homes have sold, giving us a 3.37-month supply of inventory. That tells us our inventory is not growing or shrinking dramatically. It is staying fairly steady and even starting to tighten as we move into the holiday season, similar to what we saw last year.

Because fewer homeowners choose to list between Thanksgiving and New Year’s, we expect supply to stay tight and possibly tighten further.

New Listings Trend Up Compared to Last Year

For most of 2025, new listings have trailed behind 2024. Over the last few weeks, that has shifted:

• 117 new listings this week
• 88 new listings this same week last year
• 106 new listings last week

This recent uptick gives buyers a little more choice and shows that some sellers are still willing to move, even as we approach the holidays.

Pending Sales Dip Slightly

Pending sales continue to move up and down from week to week:

• 102 pendings this week (2025)
• 119 pendings this week last year (2024)
• Pendings are up slightly compared to last week

Thanksgiving week will be an important week to watch. Last year, even during the holiday week, 64 homes still went under contract in Rutherford County. That shows that Middle Tennessee buyers are active year-round, even around holidays.

Months of Supply: Still in the Mid-3s

Months of supply has stayed in the mid-3s for most of the year, generally between 3.2 and 3.4 months. We saw a small peak around 3.52 months, and we dipped into the low 3.1s over the summer.

Overall, the market remains in a balanced to slightly seller-favored range. Last year, inventory dipped sharply in November and December. While we may not see as steep of a drop this year, we are already seeing signs of tightening inventory.

Mortgage Rates: Small Rise After October Low

The average 30-year mortgage rate is 6.26% this week, slightly above the late October low of 6.17%.

Rates are driven primarily by:

• The 10-year Treasury, which moved from 4.11 to 4.06 this week
• The mortgage rate spread, which is currently around 2.14%

Both the 10-year Treasury and the spread are lower than they were at the beginning of 2025, but affordability is still a challenge until wages grow or home prices adjust.

My prediction for 2026: most of the year will likely see rates between 5.75% and 6.25%.

Seller Motivation Increasing in Murfreesboro

Price drops are one of the best ways to measure seller motivation. Right now:

• 39.99% of homes on the market in Murfreesboro have had a price drop
• 41% of homes in all of Rutherford County have had a price cut
• 58% of homes in Bedford County have taken a price cut
• 35% of homes in Williamson County have had a price cut
• 34% of homes in Sumner County have had a price cut

As we move deeper into the holiday season, we often see two things happen at the same time:

• Serious sellers adjust their prices to meet the market
• Overpriced homes are pulled off the market until after the holidays

For buyers, that combination creates opportunities, especially if you are ready to move when other buyers are distracted by the holidays.

National Update: Negative Equity Still Low

On the national level, the percentage of homeowners who owe more than their home is worth (also called “negative equity” or being “underwater”) is still very low. Right now, about 1.6% of U.S. mortgages are underwater.

For comparison, in 2009, that number was around 23%.

VA loans have the highest share of negative equity, but that is expected because many VA buyers use 100% financing. A small dip in prices can put those loans temporarily underwater.

Unless you need to sell right away, day-to-day equity changes do not affect you, much like daily stock market swings. However, if you bought in the last couple of years and you are selling now, your numbers may be tight and you need an experienced agent to walk through the options with you.

First-Time Buyer Age Now 40

The National Association of Realtors recently reported that the average age of a first-time homebuyer is now 40. That is a big shift and reflects the impact of:

• Higher home prices
• Higher rent costs
• Slower wage growth
• Limited entry-level inventory

This is why you are hearing more talk about ideas like mortgage portability and even longer-term mortgages to help open up homeownership for younger buyers and free up more inventory for move-up sellers.

Looking Ahead in Murfreesboro and Rutherford County

Looking forward, I expect home prices in our area, especially in traditional first-time buyer price points, to stay flat or soften slightly over the next 12–24 months. I am not predicting a market crash based on what I am seeing today.

The FHFA (Federal Housing Finance Agency) is scheduled to release updated pricing data for our metropolitan area soon. My expectation is that they will show somewhere between 0% and -2% appreciation for the most recent quarter. When that report comes out, I will break it down in a future Murfreesboro Real Estate Report.

Thinking About Buying or Selling in Middle Tennessee?

If you are thinking about buying or selling in Murfreesboro, Smyrna, LaVergne, Eagleville, or anywhere in Rutherford County, our team is here to help you make clear, confident decisions based on real data and real-world experience.

Start with our free guides:

Seller Guide:
https://www.turnervictory.com/selling

Buyer Guide:
https://www.turnervictory.com/homebuyer-guide

About the Turner Victory Team at Onward Real Estate

The Turner Victory Team at Onward Real Estate is a top-producing, relationship-based real estate team serving Murfreesboro, Smyrna, LaVergne, Eagleville, and all of Rutherford County, Tennessee. We focus on education, data, and long-term relationships so our clients can make smart real estate decisions with confidence.

Contact Information:
John Turner, Team Lead
Turner Victory Team at Onward Real Estate
Email: John@TurnerVictory.com
Mobile: 615-586-0900
Office: 615-234-5020
Website: https://www.turnervictory.com

Get Weekly Murfreesboro Real Estate Updates

If you want to stay on top of what is really happening in the Murfreesboro and Rutherford County housing market, subscribe to our weekly video series, The Murfreesboro Real Estate Report:

YouTube Channel:
https://www.youtube.com/@turnervictoryteam

Thanks for reading, and from our team to your family, we hope you have a wonderful Thanksgiving week.