The Rutherford County real estate market is changing

The real estate market continues to do well in Rutherford County and throughout Middle Tennessee, but buyers paying $30,000, $40,000 and even $75,000 above an asking price are slowly ending… It was David Estes of Parks Realty in Smyrna. Estes told WGNS NEWS that the average price of homes sold last May was over $200 per square foot…

A growing concern of landlords is the transformation of houses in their subdivision into rental properties. The concern is often linked to the fear that tenants do not maintain rental accommodation in the same way that a homeowner would maintain their own property. Estes confirmed that there has been a spike in investment companies buying homes…

WGNS reviewed recent real estate transactions and found a house in Murfreesboro that sold for $465,000 in 2017, sold for $1 million on June 15, 2022 (3,196 square feet). A Smyrna home that closed at $600,000 on Wednesday previously sold for $347,000 in 2017 (2,828 square feet). Another single-family home that sold for $585,000 this week was purchased in 2012 for $250,000 (2,320 square feet). A 900 square foot home that was listed at $259,000 sold for $290,000 on Tuesday. The same house was purchased 5 months ago for $215,000. $390,000 was the closing price for a Smyrna home on Tuesday, which had already been bought for $145,000 in 2015 (1,736 square feet). $422,000 was the closing price for another Murfreesboro home on Monday, originally listed at $449,000. This same house had already been sold for $272,000 in 2015 (2,542 square feet).

Comments are closed.