Cold Weather Chills Cookeville Home Sales
It’s no secret that winter weather brings almost everything to a screeching halt here in Cookeville and the surrounding area. At the mere prediction of snow flurries schools are closed, and grocery stores are stripped of their supply of bread and milk. Folks here settle around their fireplaces and don’t venture out until the bad weather has passed. It’s no surprise to see that January home sales in the region are down significantly from the same time last year in the aftermath of the dreaded “Polar Vortex”.
So just how did the Cookeville real estate market do in January? Let’s crunch the numbers. As always, these numbers include all the areas serviced by the Upper Cumberland Association of Realtors. This includes Cookeville, Algood, Baxter, Monterey, Sparta, Gainesboro, Livingston, Celina, Byrdstown, and many of the smaller communities as well.
January 2014 Market Statistics for Cookeville/ Upper Cumberland Region of Tennessee.
January Sales down 11.18% over the same time last year!
A total of 81 homes sold across the region during the month of January.
There are currently 1294 homes for sale across the region.
By Price Range:
Under $100k – 37 homes sold in January 2014. (381 currently available)
$100,001 – $200k – 35 homes sold in January 2014. (511 currently available)
$200,001 – $300k – 7 homes sold in January 2014. (244 currently available)
$300,001 – $400k – 1 home sold in January 2014. (72 currently available)
$400,001 – $500k – 1 home sold in January 2014 (26 currently available)
Over $500k – 0 homes sold in January 2014 (60 currently available)
21 out of the 81 homes sold in January 2014 were bank owned foreclosures.
Cookeville: 39 Homes sold in January 2014
Algood, TN: 1 Home sold in January 2014
Baxter, TN: 3 Homes sold in January 2014
Monterey, TN: 1 Home sold in January 2014
Sparta, TN: 6 Homes sold in January 2014
Gainesboro, TN: 3 Homes sold in January 2014
Livingston, TN: 6 Homes sold in January 2014
Celina, TN: 0 Homes sold in January 2014
The remainder of the homes sold were scattered throughout the more rural areas of the Upper Cumberland.
Summary: The Upper Cumberland fared much the same as the rest of the nation for the month of January. While the cold certainly had an impact on homes sales, we can also attribute some of the slow down to lack of inventory. Cookeville in particular has a shortage of homes under $160k. The lack of inventory in this price range is leading to a rise in prices as buyers compete for a limited number of available homes. This is likely to intensify as the weather becomes warmer and the busy real estate season begins.
Ready to sell your home in Cookeville or the surrounding area? Please call me, Virginia Kail at 931-260-4729. It would be my pleasure and honor to help you sell your property.