For the last several weeks, real estate sales(in Dyersburg area) have been going up in numbers of pending and closings.
The sales numbers for Carousel Realty agents is up substantially from this time last year. Last year our total sales numbers were $7,165,209 and currently our numbers stand at $4,020,890. If my projections hold, Carousel should sell about $9,000,000 this year.
What is driving this numbers? Just over half the sales currently are either REO owned property or bank foreclosures. Also, rental property is starting to sell. Usually rental property is the last to recover after a slowdown.
I have also noticed a high number of foreclosures and rental properties being sold to real estate agents. Many of these real estate agents are remodeling these "houses" and putting them back on the market. There are also "other" investors(non Realtors) also buying and "flipping".
We are still seeing owner owned homes selling but at a slower pace than this time last year. Also, the prices have depreciated 10-20% in the lower priced market(up to $80,000). For homes priced over $80,000 but less than $150,000 the values have not dropped nearly as much.
What is holding its value? The homes priced $180,000 and up in selected neighborhoods.
One free service that I always offer "my" clients moving into the Dyersburg Tn area is a market analysis for the area they want to live in. I pull the numbers from the MLS and courthouse records and put them in a easy to understand format.
My team and I are ready to assist you with your real estate needs in the Dyersburg Tn area. Call us today at 800-896-8016 and we can send you a relocation package and get started with your relocation!
Copyright © 2008 By Mike Frazier, All Rights Reserved. *Dyersburg real estate market update for period ending May 15th, 2008*