08 Mar Residential Market Update – Smyrna and Surrounding Areas
Making the decision to become a homeowner is a major financial accomplishment. Being sure to have a good credit score and a stable income are just some of the things you should be mindful of when you begin your application for a Smyrna home loan. Knowing the right time to buy is another factor you should consider when beginning the home purchasing process. Knowing what the current residential market is doing is important so, to help you get started, your local Smyrna mortgage lenders with the Accurate Mortgage Group have listed the most recent market update for Smyrna and the surrounding areas.
Smyrna Market Update
Realtor.com is one of the top real estate websites. It shares the housing statistics for all property types during the past three years. In February 2016, the median listing price was $191,500 and one year later the price increased to $224,125. By February 2018, the median listing price jumped up to $269,999 but the current median listing price has since dropped to $249,000.
If you are looking for a home in Smyrna, Tennessee, and you need to apply for a home loan, now would be the best time to do so. Since rates are trending lower than they were about a year ago, you should take advantage of this opportunity and act now before they go back up.
Nashville Market Update
The residential market update for Nashville has followed similar trends to that of Smyrna. In February 2016, the median listing price was $309,000 and increased to $330,000 the following year. By February 2018, the median listing price rose to $350,000 and this price has slightly dropped to $349,000 at the beginning of 2019.
Murfreesboro Market Update
Murfreesboro has mirrored the same fluctuating trends as in Nashville and Smyrna. Three years ago, the median listing price was $214,900 and, by February 2017, the price increased to $239,999. One year later, the price had risen to $272,500 and the current median listing price for 2019 has slightly decreased to $264,900.
Wherever you are looking for your new home, our team at Accurate Mortgage Group can help. If you have any questions or are interested in beginning your application for a Smyrna home loan, please contact our team at (615) 833-0456.