Rutherford County Housing Market Update Aug 12, 2024

Here's the link to the video version: Video Version

Welcome to your weekly Rutherford County Housing update where we discuss the Murfreesboro real estate market along with Smyrna, LaVergne, and the metropolis of Eagleville. I’m John Turner with the Turner Victory Team of Onward Real estate and today is August 12, 2024.

Let’s jump right into the number. We currently have a 2.38 month’s supply of available homes, which continues to have us in a soft seller’s market.

For the 2^nd straight week pending home sales we up year over year. This curbs a trend where pending sales were down 8 of the previous 10 weeks compared to 2023.

 In all price ranges, except for the $400k’s and $800k’s we pended the same amount of more homes than we had new listings come on the market. This is something we want to continue to watch because if this trend continues it would show our inventory is tightening.

The $800k’s and over $1 million are our slowest movers with well over 6 months’ supply in both price ranges, making them a buyer’s market.

Year to date, we have closed 3,333 homes in Rutherford County which is a 9.3% decrease from last year. New construction currently makes up 37% of our total home sales.

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Once again, I’m John Turner with the Turner Victory Team at Onward Real Estate bringing you the Rutherford County Housing Market update.