RedReport - December 2017 - Year End Report

The Red Forecast

2017 was mostly what we expected with the 5% increase in sales. 2018 will probably look a lot like 2017, but will depend on what happens with the inventory. Our market has enough demand to increase sales more than 10%, but we are lacking the inventory to meet this demand. It appears the local economy is going to continue to grow which attracts more homebuyers from outside the area who think our prices are very affordable and don’t mind paying more to get the home they want. Others moving in plus the already high demand from those who already live in the area trying to find a dream home would make for a strong increase in closings if we can produce the inventory. Either way, I think this will continue to drive prices upward, but an increase in inventory would help keep prices increases a little more stable.

Personally, I prefer the modest increases in sales and prices of 3-6% each year for the whole market. Some areas will always do better or worse, but a nice steady conservative increase is manageable for both buyers and sellers.

The Red Realty Charity Challenge was a huge hit. Thank you to all that voted and to all the nominees. The 5 Winners were: Possibility Place, Cystic Fibrosis Foundation, Greenhouse Ministries, Special Kids and Last Call 4 Grace Ministries. All the nominees are all great organizations that minister and do so much for our community. Thank you to them all for their service/ministry to our community.

I hope everyone had a great Christmas and New Year celebration
May 2018 be full of many blessings for everyone!​

Thank You!
Steven Dotson

1574 Medical Center Parkway

Suite 202
Murfreesboro, TN 37129
Direct: 615-896-1400
Office: 615-896-2733

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