2011 Market Report for Cookeville & Surrounding areas
If you're stopping by for some sunshine, you probably don't want to read any further.
The latest market statistics for my area confirm that home sales are down this year so far. As of this writing, sales are down 7.25% from the same time last year. Here's the breakdown:
Total Residential Units Sold: 505
Median Sold Price: $109,900
Average Sold Price: $121,602
Average Days on the Market: 175
Here's the really interested number: Of those sold units, 125 of them were foreclosures. Foreclosures are accounting for 1/4 of all homes sold in the Upper Cumberland in 2011.
I actually feel like sales could be better if people were not so afraid to put their property on the market. I have a list of buyers that I'm trying to find properties for, and some of them have been looking for months. In particular, there is demand for homes with acreage.
You might remember that back in January I predicted that homes with acreage would be hot this year. I was right. I believe that trend will continue for the rest of this year, and probably all of next year as well. Buckle up ya'll! This roller coaster ride isn't over yet.
Cookeville TN native. A full time, full service agent for the entire Upper Cumberland region of Tennessee.
American Way Real Estate Co.
931-526-9581 Office phone, 931-528-6569 Office Fax
Virginia Kail- real estate agent, Cookeville TN