This is the big discussion right now, especially in light of the latest home price numbers.

The S&P Case-Schiller May Home price index had the first increase in nearly 3 years. Prices went up from April to May .5 percent. This is 17% below those a year ago, BUT the rate is declining. Additionally, we’ve seen the 4th straight month of decline further indicating it is slowing. The real estate market is definitely showing signs of improvement. Tons of analysts have been quoted, but Nomura said,

“In a nutshell, the recent data suggests the decline in US house prices is coming to an end much sooner than expected.”

No one expects a giant jump in housing prices, but this is important and significant data pertaining to the housing market recovery.

The Home Building Index is also up 23% in the last 11 trading days.

Housing stocks are showing promising signs with companies like Toll Brothers, Pulte Homes, etc. A building supplier, Masco, has indicated their sales view is positive, and they expect a full year of profit.

Lumber prices have also gone up 10% in the last 2 days. This may be due, in part, to production cuts, but it is important that these commodities are coming off their lows.

So have we hit bottom? Maybe. Some say we hit it and are already headed up again.

If you’re still sitting on the fence in making a move this year, it’s time to jump in!  I’d love to help in your transition. Call Dena Williams, Keller Williams at 615-739-2944 or 615-778-1818.

Greater Nashville May home sales

Falling inventory and pending home sales is the story for Greater Nashville homes sales. For the first time since last September, the number of homes pending sale are at 2000 even though the number of pendings is down from 2489 in May of 2008. Closings year-to-date are down 31.2% from 10,406 in 2008 YTD to 7,149 January - May 2009. In May, alone, there were 1783 homes closed compared to 2508 in May of 2008, which represents a 28.9% decrease.

Another very interesting data point from May revealed housing inventory has decreased in comparison with May of 2008. Inventory at the end of May was 25,096 down from 24,598 in 2008.

Here are the closings in comparing both 2008 and 2009 in May.

The median price of a single-family home during May was $169,900 and $156,250 for a condominium. This is down from last year’s median prices of $189,975 for a single-family and $159,000 for a condominium.

Williamson County Sales Data

The median price is dropping comparing month to month in May of 2008 and 2009. However, the first five months of 2009 indicate the median price is the same as all of 2008 at $365,000. In May, 219 closings were reported in Williamson County.

In comparing numbers from 2008, closings decreased in May 2009 37% and the median price decreased 14.6% as you compare with May 2008. Days on the market have increased by 19 days in comparison with May of 2008. The median price for condominiums decreased by 1% from May 2008 with an increase of 11 additional days on the market.

The chart comparing 3 years of May sales data is below.

Williamson County Real Estate sales

Williamson County saw 2,743 sales in 2008 with an average sold price of $430,633 in 82 days. The cities: Brentwood, Franklin, Thompsons Station, Spring Hill, Nolensville, Fairview, Arrington and College Grove are analyzed below by their top selling subdivisions (number sold in 2008; average sold price; average days on the market).

Brentwood TN real estate sales

Brentwood residential real estate as a whole saw 532 homes sold in 2008 with an average sold price of $654,598 in approximately 87 days. The number of sales is down from 748 in 2007. The following subdivisions saw the biggest volume in sold homes in 2008 (number sold, average sold price, average days on market).

1. Brookfield - 31; $579,089; 136 days. This number was down from 56 in 2007, and the average sold price was just slightly down in 2008.

2. Annandale - 25; $1,227,495; 79 days. This number was down from 42 in 2007, and the average sold price was up by 3% in 2008.

3. Governor’s Club - 20; $956,577; 102 days. This number was down from 27 in 2007, and the average sold price was actually down 23% compared to those sold in 2007.

4. Copperstone - 19; $644,036; 127 days. This number was down from 28 in 2007, and the average sold price was down 5% compared to 2007.

5. Fountainbrooke - 17; $621,823; 78 days. This number was up from 11 in 2007, but the average sold price was down 7% compared to 2007.

6. Belle Rive - 17; $766,467; 95 days. This number is up from 11 sold in 2007, but the average sold price was down 4% compared to 2007.

7. Inglehame Farms - 17; $735,284; 84 days. This number is down from 20 sold in 2007, but the average sold price was up 2% compared to 2007.

Other top selling neighborhoods included: Brenthaven, Taramore, Meadow Lake, Willowmet, River Oaks, Highland Park, Courtside @ Southern Woods, and Brentmeade.

Franklin TN real estate sales

Franklin residential real estate as a whole saw 1,285 homes sold in 2008 with an average sold price of $430,362 in approximately 78 days. This was down from 1,831 sold in 2007. The following subdivisions in Franklin, TN saw the biggest volume in sold homes in 2008 (number sold, average sold price, average days on market).

1. Fieldstone Farms - 122; $313,238; 79 days. This number was down from 158 in 2007, and the average sold price was also down 4$ from 2007.

2. Westhaven - 101; $626,815; 90 days. This number was down from 137 in 2007 with average sold prices also down 7% from 2007.

3. McKays Mill - 69; $419184; 48 days. This number was considerably down from 209 in 2007, but average sold prices were up 7%.

4. Franklin Green - 54; $244,399; 78 days. The number was slightly down from 57 in 2007 and the average sold price was virtually the same.

5. Avalon - 49; $511,715; 67 days. This number was down from 86 in 2007, and the average sold price was down 6%.

6. Village of Clovercroft - 49; $399,460; 6 days. Only two were sold in 2007 because it was a new development.

7. Forrest Crossing - 39; $323,848; 69 days. This number is slightly down from 41 in 2007, but average sold price was up 5%.

8. Sullivan Farms - 39; $334,154; 83 days. This number is down from 59, but the average sold price was down 5%.

9. Garden Club - 33; $505,263; 60 days. This number is up from 26 in 2007, but the average sold price was down 12%.

10. Polk Place - 30; $39,945; 83 days. This number was up from 25 in 2007, but the average sold price was down 5%.

Other high volume neighborhoods in 2008 in Franklin were: Willow Springs, Temple Hills, Riverview Park, Maplewood, Leipers Fork, Downtown Franklin, Ladd Park, Gateway Village, Founders Pointe, Cottonwood, Cool Springs East and more…

Nolensville TN real estate sales

Nolenville residential real estate as a whole saw 194 homes sold in 2008 with an average sold price of $355,261 in approximately 60 days. This number was down from 349 in 2007. The following subdivisions in Nolensville, TN saw the biggest volume in sold homes in 2008 (number sold, average sold price, average days on market).

1. Bent Creek - 42; $348,074; 57 days. This was down from 95 sold in 2007 and the average sold price decreased slightly at 1%.

2. Silver Stream - 28; $335,369; 6 days. This was down up from 15 in 2007, and the average sold price decreased 4%.

3. Ballenger Farms - 23; $277,175; 132 days. This was down from 80 in 2007, and the average old price was down 5%.

4. Winterset Woods - 22; $317,775; 56 days. This number was down from 40 in 2007, and the average sold price was down 7%.

5. Stonebrook - 16; $240,987; 95 days. This number was down from 28 in 2007, and the average sold price was down 8%.

Spring Hill TN real estate sales

Spring Hill residential real estate as a whole saw 363 homes sold in 2008 with an average sold price of $$270,784 in approximately 90 days. This was down from 603 sold in 2007. The following subdivisions in Spring Hill, TN saw the biggest volume in sold homes in 2008 (number sold, average sold price, average days on market).

1. Wyngate - 38; $215,361; 82 days. This number was down from 50 in 2007, but the average sold value was up 2%.

2. Autumn Ridge - 31; $434,949; 140 days. This number was up from 17 sold in 2007, and the average sold value was up by a couple of thousand…not quite 1%.

3. Cherry Grove - 31; $417,937; 95 days. This number was down from 70 in 2007, but the average sold value was up 9% from 2007 to 2008.

4. Campbell Station 21; $332,682; 79 days. This is down from 38 in 2007, and the average sold value was down 13%.

Other subdivisions with a fair number of 2008 sales included: Chapmans Retreat, Chapmans Crossing and Willow Vale.

Thompsons Station TN real estate sales

Thompsons Station residential real estate as a whole saw 185 homes sold in 2008 with an average sold price of $$306,101 in approximately 108 days. This was down from 224 sold in 2007. The following subdivisions in Thompsons Station, TN saw the biggest volume in sold homes in 2008 (number sold, average sold price, average days on market).

1. Cameron Farms - 26; $213,527; 73 days. This was down from 36 in 2007, and the average sold price was down by 4%.

2. Crowne Pointe - 25; $263,292; 102 days. This was slightly down from 22 in 2007, and the average sold price was down by 10%.

3. Newport Crossing - 25; $200,949; 83 days. This was slightly down from 24 sold in 2007, and the average sold price was down by 5%.

4. Tollgate Village - 18; $427,922; 155 days. This was down from 27 sold in 2007, and the average sold price was also down 15%.

Fairview TN real estate sales

Fairview residential real estate as a whole saw 127 homes sold in 2008 with an average sold price of $$215,939 in approximately 81 days. This was down from 224 sold in 2007. Fairview, TN did not have many subdivisions with more than a small handful of sales (most were spread across many subdivisions or not within subdivisions), but the two with the most in 2008 are represented below (number sold, average sold price, average days on market).

1. Fernvale Heights - 11; $129,939; 81 days. This was up from 6 in 2007, but average sold prices went down 7%.

2. Castleberry Farms - 10: $299,030; 100 days. This was down from 14 in 2007, and average sold prices went down 19%.

Other cities exist within Williamson County with small numbers of sales in 2008. They include: Primm Springs - 3 sold, $118,167 average, 62 days; College Grove - 17 sold, $391,847, 77 days; a small section of Nashville - 18, $594,334, 71 days (mostly in Horseshoe Bend subdivision); Eagleview - 2 sold, $248,563, 118 days; Arrington - 16, $631,699, 118 days; and Columbia - 1, $279,800, 91 days.

This data should not be used as a comparative market analysis in buying or selling a home. While average sold values may have increased or decreased from prior years, the number and types of homes sold were different from year to year, which may or may not reflect an accurate increase or decrease in value for that particular neighborhood. Many factors not analyzed here contribute to a true comparative market analysis. A Realtor can give you the most recent sales data of “like” properties to present a more accurate picture of a home’s value. If you do not already have a Realtor in which you are working, contact me at 615-739-2944 or denawilliams@kw.com for additional sales data and statistics in Williamson County.

Nashville real estate MLS Data - 2008

According to the MLS, Davidson County as a whole saw 6,923 residential sales in 2008 averaging a sold price of $220,313 in 74 days. Of that total 4,315 were in Nashville with the remaining 2,608 in other Davidson County areas. The average size of the homes were 1928 sf with 3 bedrooms 2 baths. We’ll look here at the top selling real estate subdivisions in Davidson County cities just within Nashville. Other cities were covered in another post.

Nashville real estate sales

Nashville residential real estate sales totaled 4,315 in 2008 at an average price of $250,480 with 73 days on the market on average. The number of homes sold is down from 5,745 in 2007. Top selling Nashville TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) are broken down by “Area” below.

Area 1 (Murfreesboro Road to I65)

Area 1 made up 825 of Nashville sales in 2008 averaging $180,689 and 72 days on the market. Top selling neighborhoods in Nashville within Area 1 (South Nashville) were:

1. Crieve Hall - 80; $234,100; 56 days. The count was down from 111 sold in 2007, but the average sold prices have increased 1.7% compared to 2007.

2. Bradford Hills - 32; $205,080; 72 days. The count was down from 43 sales in 2007. Average sold prices were also down by 2.5% on average compared to 2007.

3. Villages of Brentwood - 24; $173,241; 93 days. The count was down by 1 from 2007. Average sold prices were also down by 2% on average compared to 2007.

4. Stone Creek Park - 21; $329,989; 85 days. The count was down from 36 in 2007. Average sold prices were also down by 13% on average compared to 2007.

5. Brookview Forest - 18; $307,074; 48 days. The count was down from 36 in 2007. Average sold prices were also down by 3% on average compared to 2007.

Other neighborhoods with notable sales in 2008 included: Hillbrook, Holt Woods, Sugar Valley, Huntington Park, The Woodlands, Wexford Downs, Whispering Hills, Christiansted Valley, Caldwell Hall and Barnes Bend.

Area 2 (I65 to Charlotte Pike)

Area 2 of Nashville saw 1,420 sales averaging $453,716 and 79 days on the market. This number is down from 1,855 in 2007. In Area 2, you’ll see lots of cross-collaterialization between neighborhoods. Top selling neighborhoods in Nashville within Area 2 (SouthWest Nashville) were:

1. Green Hills - 137; $629,377; 80 days. The number of sales was down from 175 in 2007, but sold prices were actually UP 9% in 2008 compared to 2007. Some of these are strictly Green Hills, but you’ll find any combination in the MLS of Green Hills with other neighborhoods like: 12 South, Belle Meade, Harpeth Acres, Golf Club, Lipscomb, Woodward, Woodmont, Battlefield, Vandy, Whitland, Rolling Meadow, Wimbledon Area, Belmont and Woodlawn.

2. Belmont - 108; $404,910; 81 days. The number of sales was down from 135 in 2007, but sold prices were actually up 3% in 2008 compared to 2007. The Belmont area is often seen alone or in combination with any of the following neighborhoods: 12 South, Waverly, Hillsboro, Hillsboro Village, Green Hills, or Music Row.

3. West Meade - 68; $524,364; 77 days. The number of sales was down from 116 in 2007, but the average sold price is up about 7% compared to 2007.

4. Belle Meade - 65; $1,227,900; 93 days. The number of sales was down from 90 in 2007, but sold prices were actually up 11% compared to 2007.

5. Sylvan Park - 64; $314,365; 71 days. The number of sales was down from 103 sold in 2007, but sold prices were actually up 3% in 2008 compared to 2007.

6. Hillsboro Area - 58; $460,172; 79 days. The number of sales was 57 in 2007. Average sold prices were down 4% from 2007 in 2008. Hillsboro is often identified and combined as Hillsboro, Hillsboro Pike, Hillsboro Village, Vanderbilt, Vandy, Belmont, and West End.

7. Riverwalk - 55; $250,232; 96 days. The number of sales was down from 108 sold in 2007, and average sold price was down 3% compared to 2007.

8. Oak Hill - 53; $521,160; 86 days. The number of sales was down slightly from 56 in 2007, but average sold price was up 1% compared to 2007.

9. Forest Hills - 35; $693,300; 96. The number of sales was down from 52 in 2007, but the average sold price was up 13% compared to 2007.

10. Traceside -27; $303,092; 76 days. The number of sales was up from 25 in 2007, but the average sold price was down 9% from 2007.

11. Boone Trace - 26; $212,038; 63 days. The number of sales was down from 30 in 2007 and 1.7% in average sold price compared to 2007.

12. Richland - 26; $565,076; 79 days. The number of sales was about the same in 2007, but the average sold price is up about 20% compared to 2007. Richland is sometimes viewed as Historic Richland or seen in combination with West End or occasionally with Cherokee Park.

Other neighborhoods with a reasonable number of sales were Vanderbilt, Sylvan Heights, Somerset Farms, Rolling River, Riverside, Lipscomb, Lexington Point, Kenner Manor, Hillwood Area, 12 South, Brookside, Burton Hills, Cherokee Park, Edgehill, and Harpeth Valley Park.

Area 3 (Charlotte Pike to Cumberland River)

Area 3 of Nashville saw 287 sales averaging $115,542 and 75 days on the market. This number is down from 488 in 2007. Top selling neighborhoods in Nashville within Area 3 were:

1. West Nashville area - 28; $121,075; 77 days. The number was down from 33 in 2007 but the average sold price was up 10% from 2007.

2. Charlotte Park - 24; $159,225; 72 days. Total sold was down from 35 in 2007 along with the average sold price by 4%.

3. Germantown/Salemtown: 11; $237,454; 68 days. Total sold was down from 28 in 2007, along with the average sold decrease by 9%.

Area 4 (Cumberland River to Clarksville Pike)

Area 4 of Nashville saw 143 sales averaging $140,431 and 57 days on the market. This number is down from 119 in 2007. Top selling neighborhoods in Nashville within Area 4 were:

1. Jordan Ridge @ Eaton’s Creek - 48; $201,619; 51 days. This was a new development in 2008 and did not see activity in 2007.

2. Bordeaux Hills - 20; $63,301; 46 days. This was actually up by 2 sales, but the average sold price was drastically down from 2007 in 2008 by 26%

Area 5 (Clarksville Pike to Dickerson Pike)

Area 5 of Nashville saw 286 sales averaging $113,960 and 80 days on the market. This number is down from 619 in 2007. Top selling neighborhoods in Nashville within Area 5 were:

1. Brookview - 24; $147,186; 32 days. This number was down from 78 sales in 2007 with the average sold price down 2% in 2008.

2. Parkwood - 21; $87,995; 89 days. This number is up slightly from 18 in 2007 where the average sold price was also down 19%.

3. Haynes Manor - 16; $100,141; 107 days. This number is up slightly from 13 in 2007, and the average sold price was also up 5%.

Area 6 (Dickerson Pike to Cumberland River)

Area 6 of Nashville saw 828 sales averaging $154,944 and 66 days on the market. This number is down from 1,628 in 2007. Top selling neighborhoods in Nashville within Area 6 were:

1. Inglewood - 93; $176,040; 67 days. This number was down from 136 in 2007, but the average sold price was up by 5%.

2. Lockeland Springs - 78; $278,339; 64 days. This number was down from 105 in 2007, but the average sold price was up by 12%.

3. Eastwood Neighbors - 27; $230,699; 72 days. This number was down from 51 in 2007, but the average sold price was up by 12%.

4. Joywood Heights - 24; $93,788; 88 days. This number was down from 36 in 2007, but average sold price was up 25%.

5.Edgefield - 20; $244,350; 69 days. This number was up slightly from 19 in 2007, but the average sold price was down by 2%.

6. Cleveland Park - 20; $127,024; 73 days; This number was down from 33 sales in 2007, but average sold price was virtually the same in 2007 and 2008.

Area 7 (Cumberland River to I40 E)

Area 7of Nashville saw 321 sales averaging $141,277 and 68 days on the market. This number is down from 444 in 2007. Top selling neighborhoods in Nashville within Area 7 were:

1. River Glen - 25; $120,215; 84 days. This number was down from 37 in 2007, but the average sold prices were virtually the same…slightly higher in 2008.

2. River Trace - 19; $147,484; 72 days. This number was down slightly from 23 in 2007, but average sold prices were up 8% in 2008.

3. Abington Park - 18; $176,997; 76 days. This number was down from 26 in 2007, but average sold prices were up 3% in 2008.

4. Donelson Area - 17; $136,002; 67 days. This number was down from 19 in 2007, and the average sold prices were also down by 12% in 2008.

5. Cloverhill - 16; $117, 528; 49 days. This number is down from 30 in 2007, but the average sold prices were up 5% in 2008.

Area 8 (I40 E to Murfreesboro Rd)

Area 8 of Nashville saw 205 sales averaging $136,576 and 85 days on the market. This number is down from 246 in 2007. Top selling neighborhoods in Nashville within Area 8 were:

1. Edge O Lake - 42, $121,909; 92 days. This number was down from 48 in 2007, but the average sold price was up 3% in 2008.

2. Miro Meadows - 18; $85,052; 58 days. This number was up from 12 in 2007, but the average sold price was down 3%.

3. Priest Lake Park - 15; $163,418; 116 days. This number was down from 25 in 2007, and average sold prices were virtually the same both years.

4. Bayview - 12; $157,650; 78 days. This number was down from 17 in 2007, and average sold prices were also down by 14%.

5. Castlegate - 10; $136,900; 93 days. This number was up from 6 in 2007, and the average sold price was also up by 4% in 2008.

This data should not be used as a comparative market analysis in buying or selling a home. While average sold values may have increased or decreased from prior years, the number and types of homes sold were different from year to year, which may or may not reflect an accurate increase or decrease in value for that particular neighborhood. Many factors not analyzed here contribute to a true comparative market analysis. A Realtor can give you the most recent sales data of “like” properties to present a more accurate picture of a home’s value. If you do not already have a Realtor in which you are working, contact me at 615-739-2944 or denawilliams@kw.com for additional sales data and statistics in Nashville and Davidson County.

Davidson County MLS Data - 2008

According to the MLS, Davidson County as a whole saw 6,923 residential sales in 2008 averaging a sold price of $220,313 in 74 days. Of that total 4,315 were in Nashville with the remaining 2,608 in other Davidson County areas. The average size of the homes were 1928 sf with 3 bedrooms 2 baths. We’ll look here at the top selling subdivisions in Davidson County cities, and then add in Nashville separately in its own post.

Antioch TN real estate sales

Antioch residential real estate sales totaled 967 in 2008 at an average price of $143,846 with 77 days on the market on average. The number of homes sold is down from 1,345 in 2007. Top selling Antioch TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Lakeside Cove - 34; $170,690; 30 days

2. Summerfield - 28; $196,689; 51 days

3. Asheford Crossing - 27; $148,558; 112 days

4. Peppertree Forest - 26; $108,788; 79 days

5. Old Hickory Hills - 25; $151,711; 81 days

6. Village of Long Hunter - 24; $129,684; 57 days

Other neighborhoods with between 15-23 sales in 2008 were: Barnes Cove, Cambridge Forest, Cherry Hills, Hamilton Chase, Harvest Grove, Hickory Woods, Lake Walk, Maxwell Place, Oak Highlands, October Woods, Towne Village, Preserve at Old Hickory, Towne Village and Piccadilly.

The most expensive neighborhood on average in Antioch was Barnes Bend averaging $309,085. Barnes Cove averaged $256,267, Berkeley Hall averaged $249,600, Apple Valley averaged $242,110 and Blue Hole Pointe at $241,000.

Brentwood TN (Davidson) real estate sales

Brentwood residential real estate sales totaled 152 in 2008 at an average price of $338,897 with 76 days on the market on average. This total number sold is down from 202 in 2007. Top selling Brentwood TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Concord Place - 17; $221,692; 33 days

2. Hearthstone - 11; $305,778; 86 days

3. Banbury Crossing - 10; $328,500; 36 days

4. Autumn Oaks - 10; $240,436; 64 days

5. Copperfield - 10: $275,590; 81 days

6. Sterling Oaks - 9; $279,222; 90 days

Hermitage TN real estate sales

Hermitage residential real estate sales totaled 430 in 2008 at an average price of $182,586 with 73 days on the market on average. This total number sold is down from 563 in 2007. Top selling Hermitage TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Hermitage Hills - 46; $128,393; 66 days

2. Bridgewater - 41; $270,951; 25 days

3. Truxton Park - 17; $161,350; 53 days

4. Jackson Retreat - 14; $136,892; 64 days

Other neighborhoods with a reasonable number of sales were: Hampton Hall, Highlands of Tulip Grove, Hermitage Estates, Hermitage Meadows, Chesney Glen and Tulip Grove.

Cane Ridge TN real estate sales

Cane Ridge residential real estate sales totaled 183 in 2008 at an average price of $207,776 with 67 days on the market on average. The total number sold is up from 167 in 2007. Top selling Cane Ridge TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Sunset Hills - 40; $200,353; 51 days

2. Rivendell Woods - 34; $167,183; 70 days

3. Deer Valley - 16; $248,877; 55 days

4. Oak Highlands - 15; $205,898; 93 days

5. Hidden Creek - 15; $188,682; 57 days

Goodlettsville TN real estate sales

Goodlettsville residential real estate sales totaled 137 in 2008 at an average price of $158,071 with 75 days on the market on average. The total number sold is down from 167 in 2007. Top selling Goodlettsville TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Ivy Hill - 17; $179,089; 92 days

2. Gatewood - 15; $122,663; 64 days

3. Windsor Green - 14; $137,932; 57 days

Old Hickory TN real estate sales

Old Hickory residential real estate sales totaled 188 in 2008 at an average price of $164,022 with 73 days on the market on average. The total number sold is considerably down from 439 in 2007. Top selling Old Hickory TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Villages of Old Hickory - 30; $135,981; 66 days

2. Hampton Park - 18; $160,350; 71 days

3. Waterford - 18; $142,177; 65 days

4. Sherwood Forest - 11; $131,791; 49 days

Madison TN real estate sales

Madison residential real estate sales totaled 355 in 2008 at an average price of $118,109 with 85 days on the market on average. The total number sold is down from 493 in 2007. Top selling Madison TN neighborhoods in 2008 (subdivision, number sold, average price, average days on market) include:

1. Cumberland Station - 24; $152,626; 94 days

2. Rainbow Terrace - 11; $79,952; 64 days

3. Heron Walk - 10; $71,330; 72 days

4. Forest Park - 10; $71,330; 72 days

Ashland City only had 4 sales in 2008 and averaged $89,500 sales price. Joelton had 41 sales in 2008 averaging $174,429. Mount Juliet (Davidson) had 11 sales averaging $283,528. Pegram had 5 sales averaging $196,200. Whites Creek had 34 sales averaging $176,775. Nolensville (Davidson) had 58 sales averaging $267,773 which were mostly in Burkitt Place neighborhood (with a handful in Carothers Crossing). Most of the 2007 numbers were similar in these cities, except Nolensville and Mount Juliet which were down by almost 1/2 in 2008 compared to 2007.

This data should not be used as a comparative market analysis in buying or selling a home. While average sold values may have increased or decreased from prior years, the number and types of homes sold were different from year to year, which may or may not reflect an accurate increase or decrease in value for that particular neighborhood. Many factors not analyzed here contribute to a true comparative market analysis. A Realtor can give you the most recent sales data of “like” properties to present a more accurate picture of a home’s value. If you do not already have a Realtor in which you are working, contact me at 615-739-2944 or denawilliams@kw.com for additional sales data and statistics in Davidson County.

The median home price for homes in Williamson County was $385,000 for February 2009, down from $387,000 one year prior. Single family home sales were down 14% from last year.

Condo sales, took a bigger dive, at 52% decrease selling only 13 condos compared to 27% in February of 2008 while the price dropped 18% to $180,000 from $215,000.

Overall the number of days on the market increased from 77 days to 93 days for single family homes and dropped to 44 days from 60 for condos.

February reported a decrease in sales from the prior year with 1,267 homes closed this February, which was down 33% from 1,892 last year.
Compared to last month, though, sales are significantly up since January of 2009. Single-family residential closings alone exceed 1,000 units.

The median price for residential was $160,000, with $151,120 for condominiums that compares with $168,000 and $154,650 respectively in February of last year. There were 1,452 sales pending at the end of the month and the number of days on the market for a single-family home was 90 days.

Inventory is up slightly at 23,122 compared to 22,473 last year.

Get the official release or view more information here.

Part 5 of the county by county look at new home sales from the past year by city. Next up: Rutherford County. Rutherford County has also seen growth in new construction over the past few years. We will look primarily at Murfreesboro, and Smyrna in Rutherford County since they are the major players in sales totals. Nolensville has one new construction subdivision in Rutherford County: McFarlin Point averaging $327,000. Lavergne had a decent number of new home sales, but the subdivision that had the more than 1 or 2 sales was Woodsong averaging $330,000. Overall Lavergne averaged $236,000.

Murfreesboro TN new homes

Murfreesboro is a city much like the size of Hendersonville and Franklin except with a college and more affordable home prices. New construction homes sold within the last year (2008) in Murfreesboro, TN totaled around 420 at an average price of $216,000. Subdivisions selling the most new homes with their average prices in Murfreesboro are:

1. Blackman Farm - $170,000
2. Berkshire - $220,000
3. Cascade Falls - $178,000
4. Indian Creek - $167,000
5. Barretts Ridge - $152,000
6. Villas of Baskinwood - $143,000

While Murfreesboro saw the most new home sales of any other city, it also suffered the greatest decrease in new home sales from the prior year. In 2007, Murfreesboro sold 300 more new homes than this past year. The average new home sales price in 2007 was $220,000. Several subdivisions sold more new homes than others in 2007: Berkshire, Blackman Farm, Diamond Crest, Evergreen Farms, Foxfire Meadows, Florence Point, Harvest Grove, Liberty Station, Kingdom Ridge, Oxford Hall, The Cloister, Thompson Grove and Weston Park.

Smyrna TN new homes

Smyrna is a much smaller city than Murfreesboro, but it’s about 15 minutes closer to Nashville than Murfreesboro, which has a draw for many folks. New construction homes sold within the last year (2008) in Smyrna, TN totaled around 80 at an average price of $233,000. Subdivisions selling the most new homes with their average prices in Smyrna are:

1. Belmont - $164,000
2. Villages of Valley Green - $140,000
3. Adelaide Park - $178,000
4. Stonewood - $440,000
5. Lenox of Smyrna - $236,000

Smyrna also saw a decline in new home sales from the prior year. In 2007, Smyrna sold 120 more new homes than this past year. The average new home sales price in 2007 was $193,000. Several subdivisions sold more new homes than others in 2007: Lakeside, Adelaide Park, Belmont, Burton Farms, Hunters Point, Summer Ridge, Westfork and Woodmont.

Click on any of the highlighted links to find a listing of homes currently for sale in Smyrna and Murfreesboro in the respective communities. You’ll have access to the photos and details of the properties. To see properties in these areas or put your home on the market, or for general questions/discussion call me at 615-739-2944 or email at denawilliams@kw.com.

If you are a for sale by owner, contact me to get additional exposure to your home on my site for free!

Part 4 of the county by county look at new home sales from the past year by city. Next up: Wilson County. Wilson County like Sumner County has seen a growth in new construction over the past few years. We will look primarily at Mount Juliet and Lebanon in Wilson County as Watertown is even more remote and had only 1 or 2 new construction sales.

Lebanon TN new homes

Lebanon is a bit remote and rural in part, but it has seen quite a surge in recent years of new development for the area. New construction homes sold within the last year (2008) in Lebanon, TN totaled around 130 at an average price of $228,000. Subdivisions selling the most new homes with their average prices in Lebanon are:

1. Spence Creek - $224,000
2. Woodall Ridge - $158,000
3. Forest of Lebanon - $380,000
4. Stone Bridge - $235,000
5. Heritage Highlands - $249,000

In 2007, the number of new construction sold in Lebanon was a little higher than 2008’s number at almost 150. The average price of the 2007 new home group was around $238,000. Big selling neighborhoods of new construction in 2007 were Heritage Highlands, Hillview Farms, Huntington Place, Spence Creek, Woodland Ridge, Walker Estates, Colonial Village, and Fall Creek Estates.

Mount Juliet TN new homes

Mount Juliet is just East of Nashville and quite close to the Nashville airport. New construction homes sold within the last year (2008) in Mount Juliet, TN totaled around 190 at an average price of $275,000. Subdivisions selling the most new homes with their average prices in Mount Juliet are:

1. Providence - $246,000
2. Lake Providence - $369,000
3. Normandy Heights - $271,000
4. Willoughby Station - $245,000
5. Wright Farms - $405,000
6. Oak Hall - $291,000
7. Cedar Creek Commons - $142,000

Providence is comprised of several mini-neighborhoods (Providence and Lake Providence are the same): Legacy Park, Autumn Ridge, Del Webb, Arbor Springs, Bradford Park, etc., but for the purposes of this analysis they are combined together. In 2007, the number of new construction sold in Mount Juliet were double than of 2008’s number. The average price of the 2007 new home group was around $287,000. Big selling neighborhoods of new construction in 2007 were Providence, Willoughby Station, Sunset Harbor, Trailwood Farms, Saddle Wood, Normandy Heights, Oak Hall, and Cedar Creek Commons.

Click on any of the highlighted links to find a listing of homes currently for sale in Murfreesboro and Lebanon in the respective communities. You’ll have access to the photos and details of the properties. To see properties in these areas or put your home on the market, or for general questions/discussion call me at 615-739-2944 or email at denawilliams@kw.com.

If you are a for sale by owner, contact me to get additional exposure to your home on my site for free!

This is Part 3, of county by county looking at subdivisions with new homes sold within the last year by city. While new construction homes sales are down all over Middle Tennessee, these are the neighborhoods that sold the most number of new homes within the last year in Sumner County. The cities we’ll focus on will be Hendersonville, Gallatin, Portland, and White House. While even some of these cities can be rural, cities like Westmoreland, Cottonwood, Castallian Springs and Bethpage are small, a little more removed and have only a small handful of new construction homes. Portland is a little further away too, but it has had enough new homes sold recently to mention. Goodlettsville within Sumner County (parts are in Davidson County also) only had a small handful of new construction sales last year too.

Hendersonville TN new homes

Hendersonville is the closest to Nashville of the Sumner County cities we’re discussing. It also happens to be the most populated with the most options for shopping, restaurants, conveniences, etc. Very close to the heart of the city is Old Hickory Lake. Hendersonville has seen a rebirth of new construction in recent years to what was a more rural part of the city. New construction homes sold within the last year (2008) in Hendersonville, TN totaled around 164 at an average price of $294,000. Subdivisions selling the most new homes with their average prices in Hendersonville are:

1. Creekside @ Station Camp - $246,000
2. Saundersville Station - $230,000
3. Autumn Creek – $300,000
4. Mansker Farms - $295,000
5. Fountain Brooke - $346,000
6. Berry Hill - $311,000

While these were the top sellers for 2008, the majority of them came from Creekside at Station Camp. The remaining new home sales were spread over 24 different subdivisions in Hendersonville.

In 2007, the number of new construction sold in Hendersonville was a little higher than 2008’s number at almost 190. The average price of the 2007 new home group was around $345,000. This indicates quite a decrease from 2007 to 2008 in average sales price, but 2008 was dominated by Creekside @ Station Camp, where many of the homes are around $250,000, which was not a subdivision factor at all in 2007. Big selling neighborhoods of new construction in 2007 were Autumn Creek, Island Brook, Indian Ridge, Mansker Farms, Meadows of Indian Lake, Monthaven Green, Saundersville Station, Stonecrest and Winston Hills.

Gallatin TN new homes

New construction homes sold within the last year (2008) in Gallatin, TN was just under 100 at an average price of $267,000. Subdivisions selling the most new homes with their average prices in Gallatin are:

1. Twin Eagles - $199,000
2. Cambridge Farms - $237,000
3. Fairway Farms – $373,000
4. Fairvue Plantation - $654,000
5. Elk Acres - $203,000

Gallatin has had a fair number of new construction subdivisions pop up recently as well. In 2007, the number of new construction sold in Gallatin was almost double 2008’s number. The average price of the 2007 new home group was around $295,000. Twin Eagles and The Parks had the most new home sales in 2007. Other big selling neighborhoods of new construction in 2007 were Lakes of Savannah, Stone Creek, Thoroughbred Crossing, Fairway Farms, Fairvue Plantation, Cambridge Farms, Baywood Pointe, and Albion Downs.

Portland TN new homes

New construction homes sold within the last year (2008) in Portland, TN totaled around 35 at an average price of $154,000. Most subdivisions sold one or two, but the ones selling just a few more new homes with their average prices in Portland are:

1. Vail Crest - $159,000
2. Kaity Brooke - $120,000
3. None – $133,000

Just as many were sold outside of subdivisions as they were inside in both 2008 and 2007. In 2007, the number of new construction sold in Portland was more than 2 x’s 2008’s number. The average price of the 2007 new home group was around $153,000. Big selling neighborhoods of new construction (for Portland standards) in 2007 were Brooke Haven, Martin Chapel Road Estates and homes outside of subdivisions.

White House TN new homes

New construction homes sold within the last year (2008) in White House, TN totaled around 12 at an average price of $263,000. Subdivisions selling the most new homes with their average prices in White House are:

1. Baylee Meadows - $221,000
2. Greystone - $245,000

In 2007, the number of new construction sold in White House was twice 2008’s number. The average price of the 2007 new home group was around $274,000. Top selling neighborhoods of new construction in 2007 were Cambria, Briarwood, Bridle Creek, and Sumner Crossings.

Click on any of the highlighted links to find a listing of homes currently for sale in Hendersonville, Gallatin, Portland or White House, TN in the respective communities. You’ll have access to the photos and details of the properties. To see properties in these areas or put your home on the market, or for general questions/discussion call me at 615-739-2944 or email at denawilliams@kw.com.

If you are a for sale by owner, contact me to get additional exposure to your home on my site for free!