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I've been busy this week taking over 20 hours of continuing education! I am getting (one more class to go!) my GRI, Graduate Realtor Institute, designation, which requires 5, two-day courses sponsored by the National Association of Realtors. I also completed my 4 hour Relocation re-certification this week so I am feeling very educated right now!
I pride myself on staying up-to-date on information and trends in the national and Middle Tennessee/Nashville real estate markets so I can keep my clients informed about what is happening
Some interesting facts and tidbits I picked up about the National Real Estate scene, that I'd like to share:
* The typical home buyer in 2006 was 41 years old with an income of $71,800.
* 11% of Buyers in 2006 were born outside the United States.
* First time home-buyers had a median age of 31 and earned $58,300.
* The typical buyer purchased a home that was 1800 sq. ft. and cost $214,000.
* 55% of all homes purchased were located in a suburb or subdivision.
* 75% of all home sales were single family detached and 11% were condos.
Source: National Association of Realtors 2006 Profile of Home Buyers & Sellers
Locally, the Williamson County Assoiciation of Realtors released their 2007 September home sales report this week:
September 2007
Closings Median Price Average Price Days on Market
Residential 207 $373,000 $452,549 68
Condominium 57 $199,882 $214,482 49
This represents a 30% decrease over September 2006 for residential closings and a 42% decrease for condominiums.
Despite the slowdown in volume, the Median Price only fell 2% for Residential sales and increased by 8% for Condominium sales. The median is a typical market price where half the homes sold for more and half sold for less.
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