Homeowners in Westfork Subdivision in Smyrna TN will be elated to know that they are currently in a seller’s market! While home prices have dropped due to the housing market, the inventory is low! This means that homes are selling faster and the demand will help increase home values trend upward. Currently, Westfork has a 3.33 month supply of homes available for sale. An inventory of available homes of six months or less is considered a seller’s market!
Westfork is located in Smyrna TN and offers quality homes at affordable prices. Families are attracted to the area because of the Rutherford County Schools. Many individuals like the easy commute to either Murfreesboro or Nashville. Regardless of what attracts buyers to Westfork, they are coming out in larger numbers seeking these homes. If you are considering selling your Westfork home in Smyrna TN home, you need to know the value of your home.
When determining what your Smyrna TN home is worth in Westfork, you need to take the absorption rate, average square footages, and average sales price into consideration. These figures will help determine the demand in the current market for your home. Pricing your home ahead of the market will result in a quicker sale with a higher net.
The chart below shows the absorption rate for homes in Westfork in Smyrna TN. It also gives the average sales prices, square footage and days on market for the past 3, 6, and 12 month period. In determining the current value for your home, the closed sales for the past six months should be considered, and the closed sales for the past 3 months being the most important factor. Anything over 6 months is helpful to see the market trends, but should not be used for establishing current market value.
WESTFORK SUBDIVISION IN SMYRNA, TN
SEPTEMBER 1, 2010 - AUGUST 31, 2011
|
MARKET ACTIVITY FOR PAST: |
12 MONTHS |
6 MONTHS |
3 MONTHS |
|
CLOSED HOMES |
24 |
12 |
3 |
|
AVERAGE HOMES SOLD PER MONTH |
2.58 |
3.1 |
3.33 |
|
ACTIVE Listings on MLS |
14 |
14 |
14 |
|
Months Supply of Homes Active |
5.42 |
4.51 |
4.20 |
|
Average List Price SOLD Homes |
127,116 |
122,675 |
123,966 |
|
Average SOLD Sales Price |
126,117 |
122,652 |
121,533 |
|
Average Days on Market SOLD |
92 |
90 |
44 |
|
Average List to Sale Price |
99% |
99% |
98% |
|
Average Square Footage SOLD |
1495 |
1371 |
1311 |
|
Average Price Per Sq Ft SOLD |
89.78 |
89.46 |
88.45 |
|
Market Absorption Stats: 6 Months Supply of Home = Neutral Market Less than 6 Months Supply of Homes = Seller’s Market More than 6 Months Supply of Homes = Buyer’s Market |
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|
14 ACTIVE LISTINGS: |
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|
Active Average List Price |
$ 134,652 |
Avg Price Per Foot |
$ 97.93 |
|
Active Average Square Footage |
1375 |
Average Days On Market |
61 |
|
7 PENDING LISTINGS: |
|||
|
Pending Average List Price |
$ 124,642 |
Avg Price Per Foot |
$ 88.78 |
|
Pending Average Square Feet |
1404 |
Average DOM |
60 |
For a more detailed analysis of your Murfreesboro TN home or Smyrna TN home, please contact me at 615-566-3789. Homes for sale in Murfreesboro and Smyrna are in demand by qualified buyers! It is a great time to consider taking advantage of the affordable housing market and purchase your first home or move up into a larger home. I would love to talk with you about listing, positioning, staging, and SELLING your Smyrna or Murfreesboro TN home.
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