National average home prices are up 18% since hitting their low in February of 2011. Th national housing market is continuing to show increase stability in hoe prices compared to 2010. Th economy is still giving mixed signals concerning a recovery. The GDP and employment rates came in lower than expected. However, consumer confidence has increased along with new home starts.
Home buyers are continuing to benefit from our historical buyers market. Home prices are extremely affordable combined with low mortgage rates making it easier for first-time home buyers or home owners in the move-up market. Home sellers are encouraged by the increase in the market and the stability that the market has shown in prices.
This graph shows national home prices since June of 2010. Median home prices are close to the 2003 and 2004 levels but have start moving upward. Potential homebuyers should strongly consider taking advantage of this current market which offers both historically low mortgage rates combined with home price affordability.
The City of Murfreesboro TN is following the national trend and appears to be supporting an increase in home prices. In July 2010 homes within the Murfreesboro TN city limits had an active list price of 219,299 and an average closed price of $180,535 with 87 days on the market. In July 2010 the average list price actually dropped slightly however the average closed sales price increased to $185,737 and the days on market was shortened to 71. This indicates an increase in sales price and a decrease in the number of days it take to sell.
If you are thinking of buying a new Murfreesboro TN home, Brentwood TN home, or sell your current home anywhere in the Nashville TN area, please visit us online at RealEstateinMurfreesboroTN.com or SherriWellborn.com. You can search the entire MLS with our Map Search feature that allows you pin-point the exact location of your new home!
You can always call me at 615-566-3789! I'd love to help you sell your current home or find a new house to call home!