Well, the Spring Real Estate Market has been booming. The houses are selling – volume is up almost 25% from May 2011. And inventory is way down. So we have seen many mulitple offer situations on the best houses. The Median house price is flat from last year, though we have seen price increases in certain price points and neighborhoods. The more desireable neighborhoods and school districts have seen some increase. I am seeing this localized increase in Franklin, Brentwood, Nashville and Murfreesboro. When National ranking magazines look at our town, they put the whole metro area together. This triangle was recently ranked 4th in Job Opportunities statistics on Fox Business News.
The Williamson County Assn of Realtors puts out an article with statistics on the market every month. Here is the article for May 2012.
Are we over the slump? Have we hit bottom? What is the full picture? For many folks in the area this was a good spring to make a move. For some folks, who didn’t take care of their homes or asked more money than the market was willing to pay, their move didn’t happen. Every house on the market did not sell this spring. Nearly every rental house that was available has been rented though. The rental market – wow! Our economy is still not on firm ground and the ObamaCare ruling came out today. And we have a Presidential election in a few months. Nothing is certain. But for now, people still like moving to the Middle Tennessee area and our local market is strong. Even with some fluctuations and possibly more foreclosures, Nashville remains poised to continue to be a desireable place to live.
