This Week’s Market Snapshot

• Total Active Listings: 1,498 (first time under 1,500 in months)
• New Listings: 98  |  Pending Sales: 88  |  Closed Sales: 97
• Off-Market (Expired/Canceled): 132
• 3-Month Rolling Closings: 1,337
• Overall Months of Supply: 3.3
• % of Actives That Went Under Contract: ~5.87% this week

Inventory dipped below 1,500, but seller competition remains high. Closings outpaced pendings due to month-end timing.

Luxury Homes Are Now a Real Segment Here

Not long ago, $1M+ sales were rare. Today there are 70+ homes above $1M on the market countywide, with price tiers now broken out at $1–$2M and $2M+. Below $300K is mostly townhomes/condos and is moving more slowly.

Why Townhomes & Condos Are Lagging

Across Rutherford County and nationwide, attached homes trail single-family activity. Some buyers who chose condos during the hyper-competitive years are now waiting for detached homes. In certain areas, higher HOA fees have also impacted affordability.

Mortgage Rates: Short Bump, Overall Easing

The Fed lowered its key rate by 0.25%, yet mortgage rates briefly ticked up the same day due to expectations about future cuts. Even so, the broader trend is improving:

• Avg 30-Year Fixed: ~6.17% (down from ~6.34% a few weeks ago)
• Trend since late May: Gradual easing, supporting better affordability

National Inventory Context: Tennessee Stands Out

While many regions tightened since 2019, Tennessee shows one of the largest inventory increases—about +35% versus October 2019—creating more competition for sellers and more leverage for buyers, especially in new construction where incentives are common.

Seller Motivation & Pricing Signals

• ~41% of Rutherford County sellers have reduced list price
• Avg price/sq ft: down ~1.4% year over year countywide
• Murfreesboro: price/sq ft down ~3% vs. last year

Pricing strategy and presentation matter. Buyers with strong pre-approvals and flexibility can negotiate better terms.

What Buyers & Sellers Should Do Now

For Buyers

• Take advantage of easing rates and steady inventory
• Explore builder incentives and rate buydowns
• Consider townhomes/condos for value where fees make sense

For Sellers

• Price to the market and prepare the home thoroughly
• Expect competition; strategy beats “wait and see”
• Be flexible on terms to widen the buyer pool

Outlook for Late 2025

We expect modest activity increases into year-end as rates improve and pricing normalizes. This isn’t a “hot” market—but it is a smart market for well-prepared buyers and sellers working with experienced local pros.

Need Hyper-Local Guidance?

If you want a neighborhood-specific report or want to talk strategy, we’re here to help. Our team tracks these metrics every week so you can move with confidence.