Existing home sales increased 1.3% in July
Nationally, existing home sales have risen 1.3% since May, according to a recent report by bankrate.com.
That ended four straight months of declines, according to the National Association of Realtors. The nationwide median price was $422,600, up 4.2% from last year. That is the highest July average on record and inventory also increased. There is now a four-month supply. According to the report, that is “a sign that buyers may be gaining more leverage in the market.”
High mortgage rates have contributed to sluggish sales figures in the past.
“While rates have thankfully remained below the 8% mark briefly seen in Oct. 2023, they are still hovering between 6.5 and 7%,” according to bankrate.com. “The average rate on a 30-year fixed-rate loan was 6.62% as of Aug. 21, according to Bankrate’s most recent survey of large lenders. Combined with the historically high prices that means affordability challenges remain daunting for homebuyers.”
With that in mind, let’s look at the top residential transactions in Putnam County. There were many beautiful homes sold in the county. Topping our July list is the four bedroom, five bath, 3,669 square foot home at 1759 Hickory Cv (pictured above and below) in Cookeville that sold for $890,000. The property features a fireplace, family room and three attached garage spaces.
1759 Hickory Cv
2. 4068 Charlton Square, Cookeville
4 bd 3 ba
Square Feet: 4,236 square foot beautifully designed custom home
Purchase price: $700,000
4068 Charlton Square, Cookeville
3. 690 West 12th St, Cookeville
3 bd 3 ba
Square Feet: 2,898 super cool sanctuary of modern living with radiant heated floors throughout
Purchase price: $615,000
690 West 12th St, Cookeville
Photos courtesy of Zillow.
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