Thursday, April 28, 2005
Tuesday, April 26, 2005
Dyersburg real estate market conditions up to 4/26/05
The Dyersburg market has seen a 180 degree turn in market conditions over the last 18-24 months. Back in early 2003, it was very hard as a realtor to sell many of the homes on the market. There was an average of 500 homes on the market then. One of the contributing factors to the high number of homes for sale then was the health of the factories in and around Dyersburg. We had several factories close and several to scale back and/or lay off workers. Factory workers probable make up about 30-40% of our housing demand. It was definately a buyers market in 2003 and 2004.
Beginning in 2004, area factories began to recover and to start hiring workers instead of laying off workers. Consumer confidence in Dyersburg picked up when the job market picked up. With this improvement in both areas, the real estate market took off. The average 500 homes on the market started dwindeling. What began as a strong buyers market in early 2004 became a soft buyers market by the end of 2004.
With the presidential election behind us and consumer confidence on the rise, the Dyersburg market is red hot. We have shifted from a buyers market to a sellers market with all price ranges selling. Now, more than ever, it is important to employ the services of a realtor that knows the market. Homes that hit the market within 2% of actual appraised value are being snatched up by savvy buyers that are listening to their realtors. It only takes a couple of missed opportunities for the buyer to see that the realtor is telling them the truth about the market.
In about 2 weeks or so, I will discuss current financing trends in the Dyersburg market so please return for that information.
Beginning in 2004, area factories began to recover and to start hiring workers instead of laying off workers. Consumer confidence in Dyersburg picked up when the job market picked up. With this improvement in both areas, the real estate market took off. The average 500 homes on the market started dwindeling. What began as a strong buyers market in early 2004 became a soft buyers market by the end of 2004.
With the presidential election behind us and consumer confidence on the rise, the Dyersburg market is red hot. We have shifted from a buyers market to a sellers market with all price ranges selling. Now, more than ever, it is important to employ the services of a realtor that knows the market. Homes that hit the market within 2% of actual appraised value are being snatched up by savvy buyers that are listening to their realtors. It only takes a couple of missed opportunities for the buyer to see that the realtor is telling them the truth about the market.
In about 2 weeks or so, I will discuss current financing trends in the Dyersburg market so please return for that information.
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