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Polk County TN Home Sales Report - May 2009

Real Estate Agent with RE/MAX Renaissance Realtors
Polk County Tennessee Home Sales Report - May 2009
Average List Price $296,133
Average Sold Price $286,816
Average Days On The Market (DOM) 181
Total Number Of Homes Sold 6
Total Dollars Value Of Homes Sold $1,720,900
Homes Currently For Sale 139
Polk County Tennessee Home Sales Report - May 2008
Average List Price $138,610
Average Sold Price $135,610
Average Says On The Market (DOM) 187
Total Number Of Homes Sold 7
Total Dollar Value Of Homes Sold $949,275
Summary: This month when compared with the same month in 2008 was a great month in almost every way. The numbers are scued upward by the sale of a 1.1 million dollar property which affects the averages. Prices have by no means recovered and buyers apear to be very slow to come back to the table and are picking up only the best priced homes. They are buying and that is a huge improvement. I think we are going to see a seesaw affect for many months until the market decides which direction to go. What does this mean to you? If you need to sell and you get an offer (a chance to sell) then sell now and buy while it is still an excellent buyers market and before interest rates increase. If you are thinking of waiting to see if the prices go down even more remember that for every 1% that interest rates go up you will on average have to be able to get the house for 9-10% less just to be at the same place you are today if you have to get a loan. Do the math and you will see it is time to buy. Interest rates have already started jumping up in the last couple of weeks and if rates and gas prices climb it will challenge any economic life beginning to return to the markets. If you are a buyer this is your chance for great selection and great price leverage! Buy but get the home you want and BUY GOOD and then if you stay in it for a few years and you should do just fine if not very well off. If you are interested in marketing your property or are looking for a good deal to buy then just give me a call. Craig Harding RE/MAX Rivergate in Ocoee TN 423-338-7300 or Direct at 423-650-4422