Rutherford County's home prices have gone up the past 3 months, but are down from last year. The first graph below shows the price per square foot ranged from $79 to $84 during the first 8 months of this year. When compared to the same time last year, the high was $90 with an average of $86. The average price per square foot for 2011 is $81. The good news is that the trend is up.
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| 2010 Price per Square Ft |
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| 2011 Price per Square Ft |
When comparing the months of inventory from Jan to Aug of 2010 to 2011, we have more good news. While the market peaked in February with over 12 months of inventory, it has steadily declined since then. Currently, the absorption rate is 7.4. The second graph below illustrates the months of inventory for 2010. During April, May and June we had a steady, or even, market-- not favorable to buyers or sellers since the absorption rate was about 6 months. By July 2010, however, the rate steadily increased until Feb. of this year, making it a buyers' market. The bottom line, with the price per square foot going up and the inventory going down, sellers can breath easy for the time being.
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| 2011 Months of Inventory |
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| 2010 Months of Inventory |
