Second Quarter 2008 Stats

By
Real Estate Agent with Century21 Overton Real Estate

In today's market everyone is stating how there market is down. I have found from my MLS stats that only certain areas are facing problems. Areas such as Martin, TN have actually had an increase year over year in value.

              2008       # sold                   $volume         avg price      2007   sold   volume   avg price

Union City            21                       1,645,650          78,364                  35   3419578     97702

Martin                  50                       6,697,635          133,953                32  4053600      126675 

Dresden               8                        549,250              68656                   19  1650950      86892

The average year over year 2nd quarter prices have increased in Martin, TN by 6.5% In other areas in Northwest TN and surrounding areas of Kentucky prices have fallen per the MLS data from 1 to 10% depending on the market.

Just as stated in your real estate study course before taking the state exam. Real estate is a local business. Prices differentiate from city to city and from neighborhood to neighborhood.

Juston Austin

 

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