Leave Feedback

no avatar

Home sales heat up

Jared Felkins jfelkins@lebanondemocrat.com • Dec 15, 2015 at 2:50 PM

Wilson County’s housing market continues to bloom as it enters the traditionally hottest season of home sales, according to Eastern Middle Tennessee Association of Realtors president Amy Hamilton. 

Hamilton said April’s total sales increased to 202 in Wilson County. The cumulative median sales price was $217,950 with 67 average days on the market, as well as an increase in new homes going under contract. 

“With the real estate market setting at an inventory of a little more than 4 1/2 months, we are in a strong seller’s market,” Hamilton said. “Supply and demand is proving itself with increased prices and a shortage of inventory in many price ranges with buyer’s needing to make decisions quickly, multiple offers being presented on properties and, in some instances, homes selling for higher than list price.”

Mt. Juliet ended April with 93 sales. New construction accounted for 24 of those with six in the Del Webb community. The median sales price of new construction, excluding the Del Webb community, was $297,450 with a median $120.53 price per square foot. 

The demand in new construction is leaning toward four bedrooms with a median square footage of 2,596. Del Webb’s new construction prices came in at $379,223 with a median $170.98 price per square foot and 2,356 average square footage. 

Mt. Juliet’s resale inventory ended April at a median sales price of $232,000 with a median $107.41 price per square foot. Four of the sales were short sales or foreclosure, which shows that area of the market is gradually declining, Hamilton said. Resale homes had a median of 2,160 square feet, three bedrooms and built in 2001. Homes in Mt. Juliet sold for an average 97 percent of list price. 

Lebanon wrapped up April with 80 total sales, a close second behind Mt. Juliet’s market, Hamilton said. Lebanon’s new construction continued to increase and thrive, as well, with 16 new construction sales with a $273,333 median sales price and an average $110.69 price per square foot, 2,602 median square footage and also leaned toward four bedroom homes. 

The median sales price of resale homes was $151,500 with an average $92.82 price per square foot. Seven of those were foreclosures or short sales. The median square footage of resale homes was 1,816 square feet with three bedrooms built in 1997. Homes in Lebanon sold, on average, for 95 percent of asking price.

Old Hickory ended April with 19 sales. Two were foreclosures or short sales, and there was no new construction. The median sales price in Old Hickory was $181,000 and a median $89.45 price per square foot. The median square footage was 2,201 square feet, built in 1984 with three bedrooms. The homes sold for 95 percent of list price. 

Watertown ended April with five total sales, none of which were foreclosures, short sales or new construction. The median sales price in Watertown was $175,000 with a median $98.34 price per square foot. The median square footage was 1,472, average year built was 1992 with three bedrooms. Homes sold for an average of 95 percent list price. 

“As the Middle Tennessee housing market continues to improve, we are expecting the demand to continue and even increase as we continue into the summer months,” Hamilton said. “The USDA has just approved for all of Wilson County to qualify for 100-percent financing for qualified buyers, opening the housing market up to even more opportunity for buyers and sellers.” 

Recommended for You