The Rutherford County housing market continued to slow in August, following a similar path to July. Higher mortgage rates, growing inventory, and softer buyer activity are creating a market that
Market Milestones: Highlights & Surprises from Rutherford County’s Year-End Stats
Dated: January 9 2025
Views: 3834
Happy New Year from John Jones Real Estate! It was another great year here at JJRE and we're happy to report we continue to lead the market in those two key factors, our listings sell faster & for more money. Enough about us though, the December 2024 and year-end local market stats are here! Let's take a look at how Rutherford County fared last month, and how our market did in 2024 as a whole compared to the previous year.
December Highlights
In Rutherford County, Contracts were down 3% YOY and declined 18% from November, this due in part to seasonal trends, but also rates spiking 1/3 of a point last month. Closings were up by 6.5% from December 2023, and Average Sales Price rose by 12% from last December, hitting an all-time high of $502,083. This marks the first time Rutherford County’s average sales price has crossed the $500K threshold.
2023 vs 2024
Closed Sales were down 4% compared to the previous year, our fourth consecutive year of declines. We recorded 5,517 transactions in the county in 2024, with new construction accounting for 40% of those sales.
The average sales price for the year was up by 6.63%, while the median price per square foot rose by 3.33%. And while prices fluctuated month-to-month, an overall look at the year suggests that homes in Rutherford County appreciated just over 3% in 2024, which is fairly typical looking at local appreciation trends historically.
A Few Words About Our Company
In 2024, Rutherford County had 986 of its 1,155 licensed agents complete at least one transaction. The average number of transactions per agent was 4.6 units. Our agents tripled that number, continuing our long-standing track record as the top sales team in Rutherford County.
Needless to say, I'm incredibly proud of our team here at John Jones Real Estate! Not only did a number of our agents set new personal records in 2024, but JJRE as a whole also set a new high-mark, with our listings outpacing the market average by $9 per square foot. On a 2,000 sq/ft home that could mean an extra $18K in our sellers' pockets!
All in all, we truly had a great year and I'm incredibly thankful for the team at John Jones Real Estate. Our company, clients, and culture make it a joy to come to work here every day. As always, if you have any questions about the local market trends, are thinking about buying or selling, or simply need advice regarding your own property (even if it's just looking for a trusted local vendor) please let us know how we can help. It would be our pleasure to serve you. We wish you & yours a very Happy New Year!!!
Rob Janson
Rob Janson grew up in real estate, with his family owning a successful independent brokerage in Bristol, Tennessee. Rob moved to Murfreesboro in 1997 to attend Middle Tennessee State University. After....
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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of RealTracs Solutions as distributed by MLS Grid. Real estate listings held by brokerage firms other than John Jones Real Estate LLC are marked with the Internet Data Exchange Program logo or thumbnail logo and detailed information about them includes the name of the listing brokers.
