As a real estate agent specializing in land and farm sales in Middle Tennessee, I’ve closely monitored market trends over the past year. The data from July 2022 to July 2023 provides valuable insights into the dynamic landscape of our local real estate market. Here’s what we’ve discovered:
Under Contract Listings
- Peak Performance: The average listing price for under contract properties reached its zenith in November 2022 at a staggering $1,491,287.
- Recovery Road: After a significant drop in February 2023 to $1,233,849, the market showed resilience, gradually recovering to $1,338,356 by July 2023.
Closed Sales
- A Roller Coaster Ride: The average sale price experienced considerable fluctuations, with highs and lows ranging from $764,729 in August 2022 to $358,644 in June 2023.
- Steady as She Goes: Despite these ups and downs, the overall trend remained stable without a consistent increase or decrease.
Active Listings
- Climbing the Ladder: The average listing price for active listings demonstrated a steady ascent from $1,123,713 in July 2022 to $1,403,663 in July 2023.
- A Seller’s Market?: This upward trend could indicate a seller’s market where demand is outpacing supply, leading to higher listing prices.
The land and farm market in Middle Tennessee is as vibrant and diverse as the region itself. The consistent increase in active listing prices might indicate growing opportunities for sellers. On the other hand, the fluctuations in closed sales remind us of the ever-changing nature of the real estate landscape.
As a native of the area and an avid explorer of its natural beauty, I understand the unique appeal of Middle Tennessee’s land and farms. Whether you’re looking to buy, sell, or understand the market better, I’m here to guide you through the process with professionalism, knowledge, and strength.
Feel free to reach out to me for personalized assistance. Together, we can navigate the exciting land and farm real estate world.
