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Sales Statistics 2009

The majority of first quarter sales for Jackson, Tennessee and Madison County are in. This graph is representative of the average sales price in the Jackson Area. Year over year, average sales price decreased by approximately 4.5 percent, to $121,939. Unit sales dropped to the lowest level in the last 8 years, reflecting a decrease of approximately 100 home sales compared to 2008. The local market peaked in 2005 with over 550 units sold, with an average sales price of $131,217. The average sales price low was $103,651 in 2002. Pressure on prices are attributable to the weak U. S economy, demand, as well as some foreclosures selling at lower then normal prices due to condition.

Month supply of inventory is still at levels considered high. Considered a buyer market, when inventory levels are higher then demand. This with low interest rates, the 2009 tax credit for first time homebuyers, makes this a fantastic opportunity for buyers.

These numbers were obtained from the Central West Tennessee Association of Realtors, MLS, as of March 31st, 2009.