Dismal Start for 2012 Cookeville Area Housing Market

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Real Estate Agent with Investments, starter houses, luxury homes,farms, acreage
http://actvra.in/sC6

Dismal Start for 2012 Cookeville Area Housing Market

It's funny how perception and reality can sometimes be so very different.  Just two blog posts ago I told you that the Cookeville Spring rush seemed to be starting early again this year.  It definitely felt that way to me, because I've been working overtime trying to keep up.  I've been super busy, and so have many of my fellow agents/friends.

Imagine my surprise then, when the latest market report for January 2012 showed a very different perspective.  

January 2012 Sales YTD are down 28.91% over the same time last year!

cookeville housing market report

This number is comprised of all the counties that are members of the Upper Cumberland Association of Realtors. This primarily includes the towns of Cookeville, Algood, Monterey, Sparta, Baxter, Livingston, Rickman, and Gainesboro. (Also some smaller locales within the counties.)

 

A closer look at the numbers:

Total number of homes sold for the entire area:  73

Total number of homes currently available: 1375

Average Sold Price:   $117,717

Average Days on the Market:  144

Of those 73 homes sold in January, 20 of them were bank owned foreclosures.

 

So, what is my take on this?  We are caught in a vicious circle.  I have pre-approved buyers desperately looking for a home to buy.  They can't find a home they like because sellers are terrified to put their house on the market.  The buyers keep waiting and searching, and sellers keep watching and waiting for the market to improve.

Posted by

        

Virginia Kail

Realtor®

Cookeville TN native. A full time, full service agent for the entire Upper Cumberland region of Tennessee.

931-260-4729 cell

www.VirginiaKail.com

American Way Real Estate Co.

931-526-9581 Office phone, 931-528-6569 Office Fax

 

Virginia Kail

Virginia Kail- real estate agent, Cookeville TN

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Tags:
cookeville market report
cookeville real estate market report
january 2012 cookeville real estate report

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Show All Comments
Rainer
385,460
Bill Reddington
Re/max Southern Realty - Destin, FL
Destin Florida Real Estate

It is a tough world out there now. This is in lots of Places. Just have to keep prospecting!

February 07, 2012 10:12 PM #1
Rainmaker
210,810
Christine McDaniel
Red Key Realty Leaders - Crown Point, IN
Broker Associate

Wow!  That is a large percentage to be down Virginia.  I wonder if you're busier because the number of agents is probably down also.

February 07, 2012 10:16 PM #2
Rainmaker
117,529
Virginia Kail
Investments, starter houses, luxury homes,farms, acreage - Cookeville, TN
American Way Real Estate, Homes and Land for Sale

Hi Bill, Thanks for stopping in.  I'm definitely keeping my nose to the grindstone, and maybe that's why I haven't felt this as much.

Christine-  We still have lots of agents.  Part of what keeps me so busy is being a foreclosure listing agent. They are a big chunk of the market and I'm thankful to have them.

February 07, 2012 10:25 PM #3
Rainmaker
395,814
Cameron Novak
The Homefinding Center - Corona, CA
Featured Corona Real Estate Agent Team

It's not about the market if you have clients trusting you to take care of them.  You are the market (to you).  See you at the top.

February 08, 2012 12:43 AM #4
Rainmaker
1,114,517
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Virginia ...2012 will be a great year before it's over ...and you are the agent to see in the Cookeville area!

Have a great day!

February 08, 2012 06:32 AM #5
Rainmaker
117,529
Virginia Kail
Investments, starter houses, luxury homes,farms, acreage - Cookeville, TN
American Way Real Estate, Homes and Land for Sale

Cameron, I think you are exactly right.  My perception is my reality.  :)

Rob,  I feel like 2012 will be a great year for me.  I'm not sure about the market as a whole, but I have my goals for the year and I'm sticking to them!  Thanks for stopping by.

February 08, 2012 11:21 AM #6
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Rainmaker
117,529

Virginia Kail

American Way Real Estate, Homes and Land for Sale
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