Published November 10, 2022
October 2022 Real Estate Market Update
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What's going on in the Market?
Whether you are looking to sell or to buy a home, knowing how the real estate market is doing is essential to a better decision especially since this is a huge undertaking not just for you but for your whole family too.
Real Estate Market is still hot in Tennessee areas. Here is the Market Status Update for OCTOBER 2022!
DAVIDSON COUNTY
WILLIAMSON COUNTY
RUTHERFORD COUNTY
SUMNER COUNTY
WILSON COUNTY
MAURY COUNTY
ROBERTSON COUNTY
CHEATHAM COUNTY
MONTGOMERY COUNTY
BOTTOMLINE:
The AVG. SALE PRICE in OCTOBER continued with increases over last year for the month, as did all counties on a YTD measurement as well. Rutherford had the highest percent increase YTD at 24.5% while Williamson had the lowest increase YTD at 2.6%.
Unit Sales in OCT were significantly below last year in all counties for the month (double digit decreases in all counties) Only 1 county remained above last year on a YTD basis.
Inventory supply going into NOV has increased the last 3 months due primarily to the decrease in unit sales over the same time frame. All but two counties now have more than 2.0 months of supply, and three have 2.5%+ months supply.
The number of Days on Market in October increased by a day or two again in most counties as a result of slowing sales. Rutherford was the lowest with 10 DOM, while Cheatham was the highest at 18 DOM.
New Home Sales vs. Existing Sales continues to range from 34.5 % in Wilson, to 15.4% in Cheatham.
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