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Detailed year-end figures show Wilson home sales soaring
Jan 12, 2013 4:20 pm
Sales figures released Friday from the Eastern Middle Tennessee Association of Realtors based in Mt. Juliet show a distinct turnaround in the Wilson County home market with current trends continuing.
“[Last year] was a turn-around year for real estate in Wilson County,” said Amy Hamilton, EMTAR public relations chair. “After five years of a buyer's market and lots of uncertainty, we have finally made a turn, and we are on an upward climb out of the housing recession.
Hamilton said total sales for 2012 ended at 1,916, up from 1,563 in 2011, and the best year of total sales since 2007, which ended with 2,232.
To end 2012, December produced 175 closed residential homes in Wilson County with a median sales price of $209,000, average of 82 days on the market and 180 homes under contract. That’s up from 163 homes sold in November with a median price of $198,000, 75 average days on the market and 150 home sales pending.
“We also ended the year with a little more than month's supply of inventory, which is another sign that we are on our way back to a seller's market,” Hamilton said.
Mt. Juliet ended December with 101 of the 175 sales. Eleven percent of the sales consisted of short sales and/or foreclosures while 49 percent were new construction. Of the new construction sales, the median sales price was $289,900,100-percent of list price and the median price per square foot of new construction was $119.56. The median sales price of existing homes sales was $187,900, which was 99 percent of asking price, with a median price per square foot of $92.17 and a median 60 days on the market. By comparison, 80 homes were sold in Mt. Juliet in November with a $233,842 median sales price and 77 average days on the market.
Lebanon wrapped up sales in December with 60 of the 175 homes sold. Lebanon ended the month with 15 percent of its total sales consisting of short sales and/or foreclosures. The median sales price of existing resale homes in Lebanon was $139,950, averaging 97 percent of list price. The median price per square foot was $77.21 and 91.5 average days on the market. By comparison, 65 homes sold in Lebanon in November with a $185,126 median sales price and 77 average days on the market.
The new construction portion of sales in Lebanon is increasing and December produced 26 percent of the closed sales. The new construction median sales price was $234,790 with a median price per square foot of $107.24 and an average of 102 percent of list price being paid.
Watertown ended the month with four sales, 50 percent of which are foreclosures and/or short sales. The median price in Watertown was $84,500 with an average 74.5 days on the market.
By comparison, four homes sold in Watertown in November with an average $111,500 median price and 72 average days on the market.
“Watertown's market has improved over the past couple of months with more existing resale homes selling and the prices improving,” Hamilton said.
The Old Hickory/Hermitage area of Wilson County ended the month stronger as well, according to Hamilton. That area produced 10 sales in December with a median sales price of $202,500, which was 96 percent of asking price. The median days on the market was 109.5. Two of the 10 homes were foreclosures and one was new.
In November, 15 homes sold in the Old Hickory/Hermitage area with an average $170,000 median price and 59 average days on the market.
“The Wilson County market is improving in sales, as well as median sales price, and list-to-sale price percentages,” Hamilton said. “With interest rates staying extremely low and buyer's realizing that if they don't buy soon the prime window of opportunity may be missed, we should continue to see the market numbers improve each month. Stay tuned for a much better housing market for sellers in 2013.”