It often comes as a shock to buyers when they learn that we have a fairly limited selection of homes for sale in the Cookeville area. For years now everyone has heard that the real estate market is terrible, and so they naturally assume there will be loads of houses to choose from.  In fact, the stream of bad news we’ve all heard for years now is part of the very reason that the selection of homes is low.  Sellers are choosing to wait to sell their homes because they believe it’s a bad time to sell.
Let’s pretend that you are a buyer looking for a home in Cookeville/Putnam County right now, January 2013. By price range, here is the number of homes currently available for sale in our real estate market:
Under $100k – There are 103 homes currently available
$100,001 – $150k – There are 138 homes currently available
$150,001 – $200k – There are 79 homes currently available
$200,001 – $250k – There are 45 homes currently available
$250,001 – $300k – There are 42 homes currently available
$300,001 – $400k – There are 34 homes currently available
$400,001 – $500k – There are 13 homes currently available
Over $500k – There are 19 homes currently available
These numbers take into account all homes for sale.  If you were searching for a minimum of 3 bedrooms and 2 baths, then the selection would be even smaller.   For example, in the $100k or less category, there are only 42 homes for sale with 3 bedrooms and 2 baths.
What does this mean for the Cookeville TN real estate market?  For buyers, this means more competition for a small pool of available homes.  For sellers, it means more activity and fewer days on the market.  Considering that sales were up 10% in 2012, this could ultimately mean rising prices in 2013.

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