Published August 5, 2024
Rutherford County Market Update August 5, 2024
Hey guys,
this is John Turner with Onward Real Estate bringing you your weekly Rutherford
County housing market update. Let's jump right into it. For this past week
pending sales were up. We had 134 pending sales which compares to 115 last week
and 127 last year at this time. So we are up. We have seen that trend down
recently so that that's a nice bounce back.
July’s closings, we were expecting them to be
down significantly due to pending's being down, but they were not off that much.
We had 513 home sales in Rutherford County. That was only 23 less units in 2023.
Our
inventory levels, we have 2.3 month supply of inventory. That's been remaining
pretty steady. We have 1,134 homes currently on the market. That's remained
steady over the past few weeks as well. At one point we're down below 900 available
units.
Now just a
quick update for July 2024 versus 2023. In 2023 the average sales price of
Rutherford County was 454,000. This July the average sales price was $470,000 ,so
an increase of about $16,000.
Price per
square foot last year's $222 a square foot this year $224 a square foot, so
increase by $2.00 a square foot.
The days on
the market remained relatively the same, 22 days on the market last year and 21
days on the market this year. Now that's on sold properties. There are a lot of
properties that have not sold that have been on the market longer than that.
We try to bring this to you each week just to keep you updated with what's going on with the real estate market. Please reach out to me for any specific questions. This is your August 5th, 2024 Rutherford County housing market update.
Here's the video link
The charts are below.
