Home sales best in years

December 2006 was last similar
Jan 11, 2014

 

December homes sales in Wilson County proved to be the best December of record in six years, according to a report released Thursday by Amy Hamilton, public relations chair for the East Middle Tennessee Association of Realtors. 

“Going all the way back to December 2006 during the peak of the real estate market, the median sales price was $234,000, and we closed 157 residential single family homes during that month, put 124 additional homes under contract and had 937 homes available for buyers to choose from,” Hamilton said. “December 2013 busted that record in almost every category.” 

Wilson County’s median sales price was $228,206, less than a $6,000 difference, in December. Hamilton said 31 more homes were closed this year, 40 more were placed under contract and 64 fewer homes were on the market.  

“We still have less than five months of inventory on the market and, yes, prices are increasing, and the housing market is hot,” Hamilton said. 

According to Hamilton, Mt. Juliet, with its continued growth both in the residential sector, as well as the retail sectors, continued to attract many to the community. 

“With both the conveniences of Nashville, as well as the conveniences of the variety of great shopping, Mt. Juliet’s housing market proves that people are drawn to amenities and conveniences,” Hamilton said. 

Mt. Juliet finished strong with more than 52 percent of sales countywide with 99 total sales, 69 of which were existing home sales and only three of which were short sales and foreclosures. The median sales price of existing single-family homes in Mt. Juliet was $237,000 in December with a median price $105.57 price per square foot and a 52 average days on the market. Homes sold, on average, for 98 percent of list price. 

New construction in Mt. Juliet also boomed with 30 of the 99 homes sold were new construction. The median sales price of new construction in Mt. Juliet was $356,182 with a $124.09 average price per square foot. 

Lebanon ended December with 39 percent of the county’s sales with 74.13 percent of those short sales and foreclosures and 29 percent new construction. The median sales price of existing homes in Lebanon sold for $177,000 and sold for 93 percent of list price, on average. Lebanon homes sold after an average 84 days on the market and $95.03 average price per square foot. New construction in Lebanon sold for a median price of $227,894 at $102.28 per square foot.

“Lebanon is experiencing new growth with new residential homes, as well as businesses,” Hamilton said. “Hartmann Drive extension has been a much-needed avenue for Lebanon and is opening up many opportunities for new business growth both across from the new Lebanon High School, close to Interstate 40, as well as new development along West Main Street. The county seat cannot be overlooked and is looking for its turn very soon to share in the growth opportunities that Mt. Juliet has experienced.”

Watertown ended December with six total sales, two of which were foreclosures and short sales and one new construction. The median sales price in Watertown was $72,102 with a median price per square foot of $62.94, and homes sold on average 96 percent of list price. “Watertown has a lot to offer with some unique places to eat, shop and spend some quiet relaxing time,” Hamilton said. “If you’ve not been to Watertown lately, you’re missing out. The great folks from Nashville know and visit frequently on the Music City Star.”

Old Hickory ended December with nine total sales, only one of which was a short sale or foreclosure. The median sales price in Old Hickory was $166,750 with a median price per square foot of $101.37 and 57 average days on the market. 

“Old Hickory has a great combination of the new and the classic and is literally a stone’s throw into Davidson County,” Hamilton said. 

Homes in Old Hickory sold for 96 percent of list price, on average. 

 “As you can see, the real estate market is on a great rebound in Wilson County,” Hamilton said. “As good as it was in 2006 and the beginning of 2007 and as bad as we felt that it has been since then, we are on a very strong turnaround, which is creating the reduction of short sales and foreclosures and the increase in new construction and general sales. 

“Don’t be fooled and think that the “winter months” are a slow time. Buyers are out in full force right now buying homes, and they are ready to buy. So sellers, get those homes on the market, price it in the market and get ready to move.”

 

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