Moving Guide to Ardmore Real Estate Market
Southern states such as Alabama and Tennessee have gained a lot of ground in the real estate market in recent years. Indeed, more people are looking to settle in the Southern cities in the hopes of finding cheaper properties and being able to enjoy more scenic locations within their local neighborhoods. Of course, we cannot forget to mention the rich cultural and historical background of the Southern cities, which draws in lots of tourists year in and year out. Ardmore is one of those growing cities, now being looked at as a possible destination for home buyers.
Ardmore is a city located within Tennessee's Giles and Lincoln Counties, which are among the fastest growing neighborhoods in the state. Despite the rate of development, don't expect it to be of the same level of the Berkeley real estate market just yet, as the city still has a long way to go. The population is estimated at roughly 1,082 people as of 2010. There is also another city of the same name located in Alabama, so make sure you don't confuse the two. However, these two cities are really one in the same; that is, Ardmore sits directly on the Alabama-Tennessee state line, part of the city is in Tennessee and the other part in Alabama. In real estate, however, these two cities are considered separately as the real estate proceedings are different in the two states. All agents at Butler Realty are fully licensed and equipped to complete real estate transactions in both states, so do not hesitate to contact us if you would like to discuss the ins and outs of Ardmore, TN real estate or Ardmore, AL real estate.
Because the city is relatively small, it provides a warm and intimate kind of community of homeowners. This is certainly unlike other more prominent neighborhoods, such as many in California and Florida. In Ardmore, you can obtain a sense of serenity in your surroundings, without having to purchase a luxury home.
From 2012 data for the Ardmore real estate market in Tennessee, only about 12% of the total properties listed in the city constitute single family homes. Meanwhile, the remaining percentage of home sales in the area are divided into condos (less than 1%) and apartment units. The owner vs. renter percentage for properties in Ardmore is also at about 79% for the owners, meaning that sellers in the area will be able to gain more profit from selling properties rather than renting them out.
According to the latest data gathered for the city's demographics, the majority of the residents in Ardmore produce an income of $60,000-$75,000. Hence, pricing your home when you list it into the market might not be a smart idea. In fact, the median list price for homes in Ardmore is estimated at $127,500 and has seen a growth percentage of about 6.2% when compared with last year's listing price. This price, however, is one of the lowest prices that homes have been sold at in the city in recent years, with the highest price reaching up to $200,000 back in 2009. A more in-depth look at home prices in Ardmore TN will reveal that the average price has shown a major growth from that in February, with about a 27% increase.
If you are searching for the perfect place to retire or build a new home for your family, Ardmore is no doubt a good choice. Whether you have a penchant for the Southern charm or you want a peaceful retreat to call home, it's no longer a surprise how the city has established its name as the Ardmore real estate market.