2007 LaVergne Housing Numbers

I did some research on the MLS to look at LaVergne’s housing numbers for 2007 – and compared them to 2006.  In addition, I’ve done side-by-sides of closings for December 2006 and December 2007.  Here’s what we have:

CURRENT
Current Listings:  475
Currently Pending: 31
Inventory of Homes:  10.96 months supply (a buyer’s market)
Lowest List Price:  $66,500 (3B, 2b mobile home in Plantation Village subdivision)
Highest List Price:  $525,000 (3B, 3 1/2b custom home in Hampton Road Estates with indoor swimming pool)

December 2006
Homes Closed:  66
Low Price:  $89,000
High Price:  $330,000
Average Price:  $154,270
Average Square Foot Price:  $92.11 p/sf

December 2007
Homes Closed:  47
Low Price:  $27,000
High Price:  $467,320
Average Price:  $152,295
Average Square Foot Price:  $91.85 p/sf

Yes, sales are down.  Yes, prices are down, but they aren’t terrible AND they are a reflection of the nationwide housing market.  For the year…

Homes Sold 2006: 1,005
Homes Sold 2007:  714

Approximately a 30% drop in home sales for LaVergne this year.

2006 Prices
Lowest: $29,000
Highest: $470,000

2007 Prices
Lowest: $22,000
Highest: $469,900

If you ever have any real estate questions, please feel welcome to contact me!

Kathy Tyson
Bob Parks Realty, LLC
491-2161

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9 Responses

  1. That’s really neat information!

    Have you noticed a drop in the % of pending homes that actually close as the credit market has been drying up?

    And an eleven month supply! I’m glad I’m not trying to sell my home right now!

  2. Now’s the best time to do home improvements that add value to your existing home. That way you’ll be able to max-out your value when the housing market recovers should you decide to sell at that time.

  3. IJS, I don’t know if I totally agree with you on that. Kathy can tell us more as the real-estate expert, but I see two problems with your theory:

    1 – If you renovate today and the housing market is down for the next 10 years, you would essentially be touting renovations that we’re based on trends and technology that is 10 years old

    2 – If the market continues to fall, so will the cost of building supplies (wood, concrete, etc) and other home items (cabinets, appliances, tile, carpet, etc.)

    It’s like reading the stock market – you want to buy low and sell high, but you can’t predict exactly when either of the two will hit. I’ve been thinking about new paint and carpet, but I’m betting costs will continue to fall.

  4. My assumption (sorry I didn’t state that) is that the housing market does indeed recover sooner rather than later.

    I guess another assumption is that the homeowner is not “flipping” the house and that he/she/they are prepared to live in the home long term and get some enjoyment in living with the renovations. If the market recovers sooner than later and the renovations are already completed, then their options to sell become better.

    Regarding the cost of building supplies, they can only go so low and they may be approaching rock-bottom already. I priced 4×8 drywall sheets last week at Home Depot. The ones I priced were under $6.00 each. Just a short 18 mos ago, those same sheets were over $12.00 each. It’s just one small example, but I’m sure the trend is similar on other building supplies at the retail level.

    I’m Just Sayin….

  5. […] 17, 2008 by Kathy T. After the side-by-side of housing numbers for LaVergne from 2006 and 2007, I decided to scroll through individual neighborhoods to see how they fared.  A couple of […]

  6. […] Housing Numbers 2007, for LaVergne After the side-by-side of housing numbers for LaVergne from 2006 and 2007, I decided to scroll through individual neighborhoods to see how they fared.  A couple of […]

  7. […] 2008 LaVergne Housing Numbers Posted on January 16, 2009 by Kathy T. Here we go.  I’ve gone a year back to see what the numbers looked like then: […]

  8. […] Here we go.  I’ve gone a year back to see what the numbers looked like then: […]

  9. Prices are going low slowly. Its good time to buy houses.

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