Wilson home prices highest in nearly seven years
Dec 15, 2015 at 11:36 AM
Wilson County home prices in September were the highest since December 2006.
According to Amy Hamilton, public relations chair for Eastern Middle Tennessee Association of Realtors based in Mt. Juliet, the average sales price in Wilson County was $233,000 in September, which was $1,000 lower than the median sales price in December 2006 just before a downturn in the housing market.
Hamilton said the month ended with 193 closed residential single-family home sales, down from the past few months but expected due to the time of year. The average days on the market was down from August, as well as the number of available homes for sale.
“The summer months tend to produce the higher amount of sales yet, in this area, there's never a bad time to sell,” Hamilton said.
Mt Juliet ended the month with 107 total homes sold, nine of which were foreclosures or short sales and 40 new construction sales. The median sales price of existing home was $229,445 with a median price per square foot of $99.57 and 67 average days on the market. Homes averaged selling for 99 percent of list price. The new construction median sales price in Mt Juliet was $286,475 with a median sales price of $125.50 per square foot.
Lebanon wrapped up September with 96 total residential single-family homes sold. Thirteen of those were foreclosures or short sales and 23 were new construction. The median sales price on existing resale homes in Lebanon was $167,000 with a median price per square foot of $87.64 and 72.5 median days on the market. Homes averaged selling for 98 percent of list price. The new construction median sales price was $248,999 with a median price per square foot of $105.12.
Watertown ended with two sales, one of which was new construction. The median sales price was $112,400 with a median price per square foot of $82.76.
Old Hickory had a strong month with 21 sales with a median sales price of $190,500 and a median price per square foot of $94.26, according to Hamilton. There was one new construction and one foreclosure out of the 21 sales. Old Hickory homes sold on average for 98 percent of list price.
“There is some uncertainty now about some of the loan programs during the government shutdown, and we applaud many of the mortgage companies for working to find alternative solutions to helping buyers get into homes and sellers be able to move on during this time,” Hamilton said. “Everyone in the real estate-related industry is still doing what is necessary to keep the housing market on the upswing.”