Murfreesboro TN Home owners in Regency Park have reason to celebrate! Homes in this highly sought after neighborhood are currently in a SELLER’S MARKET based on the statistics for the period of July 1, 2011 through August 31, 2011!
A buyers market is said to occur when more than 7 months of inventory of homes is available in a market. A seller’s market occurs when there is LESS than 6 months of inventory of homes in the market, and it is a neutral market with a 6 month supply.
For the period of MARCH 9, 2011 through SEPTEMBER 9, 2011, there were 11 closed sales with an average sales price of $228,560 in Regency Park located in north Murfreesboro TN. Regency Park is highly sought because of it's convenient location, Siegel School Zones, charming architecture, and larger lots. Despite the doom and gloom often reported in the media, the average days for a home located in Regency Park to be on market was ONLY 53!
For the period of July 1, 2011 through August 31, 2011, there were 5 active listings and 4 sold listings. This calculates to 3.75 months (LESS THAN FOUR MONTHS!) worth of inventory for the given market. Since a seller’s market occurs with less than 6 months of inventory, this puts home owners in Regency Park in a definite seller’s market!
If you live in Regency Park or any other area in Murfreesboro TN and would like a custom market analysis done for YOUR home, please contact me at 615-566-3789. The real estate market is local and can even vary by street and subdivision! Get the facts before buying or selling your home. From staging to sold, I’m here to help you get top dollar for your home or assist you in purchasing your next new home!