Wednesday, August 29, 2012

 

Dyersburg Real Estate Market Heating Up

The Dyersburg real estate market has finally started a pretty good recovery. I checked the stats about 7 weeks ago and the sales compared to last year were at best flat.

I just ran the Dyersburg real estate statistics  for January 2012 thru the end of July 2012 verses the same time period last year. Here are the comparisons:

  1. Home sales in Dyersburg up 3 % over same period one yr ago
  2. Home sales in Dyer County(excludes Dyersburg) up 24% over same period one yr ago
  3. Land sales in Dyersburg up 10% over same period one yr ago
  4. Land sales in Dyer County(excludes Dyersburg) up 12% over same period one yr ago

The average sales price for homes sold is $109,329 for the current period verses $88,127 one year ago.

Here is my take on what is going on. Just in the last 2-3 months home sales have really picked up. I suspect that when I run the numbers after August is behind us we will see even healthier numbers than what we have up above.

About 50% of the house sales currently are foreclosures but that number is dropping.

Home values for the most part have hit bottom and if the demand continues then prices should start easing back up. I got a contract on a home over the weekend that has been listed for about 2 years.

Check back here next week to see the Dyersburg real estate statistics for Jan 2012-Aug 2012 verses one year ago.

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