Real Estate in Murfreesboro TN is definitely a hot commodity! As of August 15, 2006, there were 1,206 properties listed on the MLS as active in the Murfreesboro area. The average price of these homes was $245,897. However, the average sale price for a home closed in the last six months was only $179,450. Homeowners are seeing a nice return on their real estate investments and anticipate even more of a return on their investments in the future.
Murfreesboro is experiencing a very healthy market with a nice mixture of homes in various price points. The breakdown of the 1,206 active properties is:
Up to $100,000 47 properties
101,000 - 150,000 273 properties
151,000 - 200,000 239 properties
201,000 - 250,000 208 properties
251,000 - 300,000 160 properties
301,000 - 350,000 108 properties
351,000 - 400,000 80 properties
401,000 - 450,000 23 properties
451,000 - Up 65 properties
As with any market, the smallest inventory is found in the lowest end and the highest end of the pricing ranges.
Homeowners considering selling their properties that would be valued at $100,000 or less, in addition to homeowners in the $400,000 or up, market should take advantage of the current inventory and consider listing their home for sale now. As more and more families move into the Murfreesboro area, it is becoming harder to find homes in the $100,000 price range. Likewise, Murfreesboro is attracting a larger circle of professionals and business owners to the area that are seeking housing in the higher price ranges. Selection of homes over $400,000 in Murfreesboro is limited.
We are quickly heading into the fall and holiday season and the number of buyers looking for a new home will begin to slow down soon. Many realtors will tell you that Spring is the best time to sell a home. However, I believe that anytime is a good time to sell your home if you price your home competitively and make sure it is show ready!
Mortgage rates appear to be holding steady, the housing market in Murfreesboro is very healthy, and the job market is strong. When you compare our housing inventory and average price home to the current population and average income per household in Murfreesboro, I think you would have to agree that we are in a very strong market with lots of room for increases in our currently home value. In addition, compare our housing market to the market in San Diego, Los Angeles, or even Michigan and you will realize what a great investment real estate is in the Murfreesboro TN area.
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