Thursday, March 31, 2011
1st Quarter Dyersburg Real Estate Market Statistics
First of all I said in an earlier post that this quarter would surpass last year but according to these hard numbers that is not the case.
For all the areas that the Dyersburg realtors service, the total sales for the first quarter of 2011 were 64 units and $4,378,090. For the same time last year(2010) the total sales were 78 units and $6,232,262. This would be a decrease of about 19%. I believe part of the reason for the decrease is because the bank lending standards continue to tighten preventing some to purchase that would have qualified in 2010.
The numbers also reflect that Dyersburg and Dyer County fell by 14% and all the other areas had larger drops to bring us that total area 19%.
In Dyersburg the average sales price was $62,832 verses $74,002 a year ago which is a drop of 15%.
I believe what brought the average sales price down so much was the foreclosures here in the Dyersburg area.
One bright spot for the Dyersburg real estate market, the pending home sales appear to be up over this time last year and I believe that is a trend that was just reported nationally.
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