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Lebanon home sales outpace Mt. Juliet to start 2016

Staff Reports • Updated Apr 15, 2016 at 12:00 PM

For the first time in several years, Lebanon has more home sales in both existing homes and new construction than Mt Juliet, according to Amy Hamilton with the Eastern Middle Tennessee Association of Realtors.

Overall, Wilson County homes sale are up in every category form the previous year including price per square foot and average sales price, according to Hamilton.

Lebanon ended the first quarter of the year with 75 new construction sales with an average sales price of $299,115, and average price per square foot of $120.88. There were also 196 existing home sales with an average sales price of $242, 612 and average price per square foot of $103.36.

During the same time in 2015, Lebanon produced 62 new construction sales with an average sales price of $276,974 and average price per square foot of $111.19. Sales of existing homes during that time averaged $216,293 with an average price per square foot of $98.03.

Lebanon's new construction market is up almost 20 percent and existing home sales are up 38 percent. Hamilton said Mt Juliet is still the strongest with their average sales price and average price per square foot.

Mt Juliet came in with a strong presence in the first quarter of 2016 with 70 new home sales with an average price of $336,000 and average price per square foot of $130.12.

During the same period a year earlier, Mt Juliet ended with 92 new home sales at an average of $354,185 with an average price per square foot of $131.82. The sale of existing homes in Mt Juliet in 2016 came in at 168 as of March 31 with an average sales price of $287,061 and average price per square foot of $121.69.

The numbers are an increase from 2015’s first quarter numbers, which were 167 homes with an average of $238,524 and $109.43 per square foot.

Wilson County's overall production is up from last year with 12 percent more home sales during the first quarter coming in at 558. Overall, average sale price has also increased by a little more than 6 percent coming in at $271,092.

Days on the market dropped by six days and Hamilton said realtors are seeing a shorter supply of inventory, which creates a shortage and multiple offer situations in the area.

“When you, as the public, are getting mail, calls and people knocking at your door asking if you're considering selling, it's because there is a definite housing shortage in our area,” Hamilton said.

“We do have a great county with wonderful amenities and more coming each day, great schools, short commute to Nashville and still are considered a ‘bedroom community’ where people still know their neighbors and care about them.”

Hamilton said the county would continue to see growth that will gradually move east and fulfill the demand for more housing opportunities for people of all demographics throughout the county. 

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