Home Sales in LaVergne Still Down

The home sales in LaVergne continue to be less than the closings in 2006, but homes are still selling.  Here’s what October looked like:

Homes closed
Jan. 1 – October 31
2006:  859
2007: 618
Down 28% in 2007 compared to 2006

October 1 – October 31
2006: 83
2007: 51
Down 39% in 2007 compare to 2006.

Homes on the Market:  513
Least expensive:  $69,900 = 1280 square feet, 3 bedrooms, 2 baths
Most expensive:  $525,000 = 4500 square feet, 3 bedrooms, 3 1/2 baths

Go to my real estate blog to read statistics for the entire county.

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6 Responses

  1. Do you have home prices too? I’m curious how those look.

  2. What kind of prices are you looking at, Michael? If they’ve gone up or dropped? I can look into those, but it’ll be tomorrow before I can post.

  3. yeah, I guess I’m just curious if the home values in LV are still increasing?

  4. I just did a very quick, very unofficial search on the MLS. I looked for houses sold from October 1 – Nov. 20, 2006 and compared to those sold from October 1 – Nov. 20, 2007… used the following search criteria: 1200-1500 square feet, 3 bedrooms, 2 bath, 2-car garage.

    In 2006, the houses sold for an average of $102.08 p/square feet. In 2007, the houses sold for an average of $98.80 p/square feet.

    Next search: 1500 – 2000 square feet, 3 bedrooms, 2 baths, 2 car garage. 2006 = $93.39 p/sf, 2007 = $87.53 p/sf.

    That’s just a 1.5 month window which clearly indicates a drop in the value of homes.

  5. check out Orlando I think it really raises an eye brow…

    http://www.orlandorealestatetrends.wordpress.com

  6. Wow, it does look like prices are dropping here in LV. Although one question I would have is how much of an effect is the lack of 100% financing having on current prices? For example, 2 years ago you may have bought the house and rolled closing costs into the loan making the home price appear inflated. Now with people not able to do that as much, I wonder if that’s having an effect on the sales price?

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