May home sales in Wilson County were the highest since 2007, according to a report released Sunday by Amy Hamilton, public relations chair for the East Middle Tennessee Association of Realtors.
“As predicted, our market has made a turn and is on the upswing with sales prices, sold homes and homes going under contract,” Hamilton said. “Top national franchises are reporting all-time record profits, and it looks as if it will continue.”
Hamilton said in July 2007, Wilson County ended with 237 sales, a median sale price of $213,527, 59 median days on the market and an inventory of 4.68 months.
“May 2013 is the best month for sales that we've had since then,” she said.
Wilson County ended May with 228 sold residential properties with a median sales price of $215,000 and 75 median days on the market.
“We are also looking at just more than a 4.34-month supply of homes, which will help continue to push the market upwards,” Hamilton said.
Mt. Juliet ended May with 127 residential homes sold. The median sales price of existing homes in Mt. Juliet was $227,500 with a median price per square foot of $102.79 and 59 median days on the market. Of the 127 homes sold, 11 were foreclosures or short sales and 40 were new construction. Of the 40 new construction homes, the median sales price was $269,599 with a median price per square foot of $122.45.
“Mt. Juliet continues to thrive due to the steady influx of new businesses and anticipated Class A office complexes, along with its proximity to Nashville and the [Nashville International Airport],” Hamilton said.
Lebanon ended May with 78 residential properties sold. The median sales price of existing homes in Lebanon was 164,900 with a median price per square foot of $90.52 and 77 median days on the market. Of those 78 homes, 11 were foreclosures or short sales and 13 were new construction. The new construction median sales price was $219,689 with a median price per square foot of $101.87.
“Lebanon's downtown revitalization, the benefits of a slightly more relaxed environment yet with great amenities, a mixture of boutiques and chain stores for shopping and so much more continue to draw people to Lebanon to call home,” Hamilton said.
Hamilton said Watertown is quickly turning its market around as well. Watertown ended May with 13 sales with a median sales price of $150,000, a median price per square foot of $75.54 and 86 median days on the market. In these numbers there was only one foreclosure and no new construction.
“Watertown, what can I say?” Hamilton said. “Watertown is such a unique place that so many love to call home. With its mostly locally owned shops, it's rural living environment, and a place where everyone is family and friends, Watertown is a town that continues to attract people from all areas and all walks of life who want a little slower pace to life when they get home.”
Old Hickory and Hermitage ended may with nine closed sales. The median sales price of existing resale homes was $190,000 with 63 median days on the market and a median price per squaqre foot of $84.08. There was only one foreclosure or short sale in this market and no new construction.
The figures include the Wilson County portion of Old Hickory and Hermitage only.
“This is a far west as you can get in Wilson County, enjoy the amenities of Davidson County while still enjoying the taxes, schools and amenities of Wilson County,” Hamilton said.
Hamilton said the latest trend in home sales in Wilson County signals a seller’s market.
“That doesn’t mean that sellers can price their homes out of the market and expect to get the price,” she said. “It does mean that there is a better chance that sellers can get a slightly better price than they could four to six months ago and definitely a year or two ago.”
“The biggest challenges that realtors are dealing with at this time is lack of inventory causing multiple offers many times and appraisers not being able to support the increasing market in some instances. Dealing with a professional that knows the market and the best ways to walk you through the process is crucial to making your sale a success.”
Hamilton said sales data provided was from Realtracs, a local multiple listing service.