Dismal Start for 2012 Cookeville Area Housing Market
It's funny how perception and reality can sometimes be so very different. Just two blog posts ago I told you that the Cookeville Spring rush seemed to be starting early again this year. It definitely felt that way to me, because I've been working overtime trying to keep up. I've been super busy, and so have many of my fellow agents/friends.
Imagine my surprise then, when the latest market report for January 2012 showed a very different perspective.
January 2012 Sales YTD are down 28.91% over the same time last year!
This number is comprised of all the counties that are members of the Upper Cumberland Association of Realtors. This primarily includes the towns of Cookeville, Algood, Monterey, Sparta, Baxter, Livingston, Rickman, and Gainesboro. (Also some smaller locales within the counties.)
A closer look at the numbers:
Total number of homes sold for the entire area: 73
Total number of homes currently available: 1375
Average Sold Price: $117,717
Average Days on the Market: 144
Of those 73 homes sold in January, 20 of them were bank owned foreclosures.
So, what is my take on this? We are caught in a vicious circle. I have pre-approved buyers desperately looking for a home to buy. They can't find a home they like because sellers are terrified to put their house on the market. The buyers keep waiting and searching, and sellers keep watching and waiting for the market to improve.
Virginia Kail
Realtor®
Cookeville TN native. A full time, full service agent for the entire Upper Cumberland region of Tennessee.
931-260-4729 cell
American Way Real Estate Co.
931-526-9581 Office phone, 931-528-6569 Office Fax
Virginia Kail- real estate agent, Cookeville TN
It is a tough world out there now. This is in lots of Places. Just have to keep prospecting!
Wow! That is a large percentage to be down Virginia. I wonder if you're busier because the number of agents is probably down also.
Hi Bill, Thanks for stopping in. I'm definitely keeping my nose to the grindstone, and maybe that's why I haven't felt this as much.
Christine- We still have lots of agents. Part of what keeps me so busy is being a foreclosure listing agent. They are a big chunk of the market and I'm thankful to have them.
It's not about the market if you have clients trusting you to take care of them. You are the market (to you). See you at the top.
Virginia ...2012 will be a great year before it's over ...and you are the agent to see in the Cookeville area!
Have a great day!
Cameron, I think you are exactly right. My perception is my reality. :)
Rob, I feel like 2012 will be a great year for me. I'm not sure about the market as a whole, but I have my goals for the year and I'm sticking to them! Thanks for stopping by.