It is hard to hide the fact that the current atmosphere in real estate shows that it’s a sellers’ market for Rutherford County residents. Recent data also shows that many homes are starting to sell above their asking price.
As home prices go up, Murfreesboro Mayor Shane McFarland says that we will see changes in the number of homeowners who work in Rutherford County, verses homeowners living in nearby cities and working in Murfreesboro…
RealTracs shows that the Middle Tennessee real estate market, which includes not only Rutherford County, but the eight counties that surround Nashville (Cheatham, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson), had an inventory of 5,381 single family at the start of 2021. That same month of January ended with 2,745 single-family home closings or purchases.
As you move forward in the year, the home inventory decreases while home closings increase.
This past April ended with a home inventory count of 4,534 single family residences for sale in Nashville and its eight surrounding counties. April also recorded 4,119 home closings.
In May of 2021, there were slightly less homes for sale in the Nashville market, again this includes Rutherford County. RealTracs recorded an inventory of 4,308 homes for sale and 4,063 closings in May. That is a 20-percent increase in home sales, when compared to May of last year (2020).