Wilson’s average home prices up from year ago
Jared Felkins [email protected]
Updated Nov 8, 2013 at 10:09 AM
A total of 168 single-family homes sold in Wilson County in October.
The number is flat with October 2012 with 167 sales, however, the average price is up considerably, according to Eastern Middle Tennessee Association of Realtors public relations chair Amy Hamilton. The median sales price a year ago was $194,625, and October ended at $231,402, which was a 19-percent increase in median sales price.
Lebanon ended October with 68 of the total sales, six of which were foreclosures or short sales, and 15 were new construction. The average sales price of resale homes was $189,900 with a median price per square foot of $90.56 and 77 average days on the market. Homes sold on average of 97 percent of list price.
Mt. Juliet wrapped up October with 85 total sales. Of those, 27 were new construction and four were foreclosure or short sales. The median sales price of resale homes in Mt. Juliet was $229,673 with the median price per square foot of $97.61 and 57 average days on the market. Mt. Juliet, as well, was at 97 percent sales price compared to list price.
“New construction continues to boom in Wilson County giving both Wilson County residence and newcomers lots of opportunities throughout the county to choose the location, style and price range of their new home,” Hamilton said. “Mt. Juliet continues to lead the way with new construction sales.”
She said in October, Mt. Juliet had 27 new construction sales with an increased average sales price of $314,900 and a median price per square foot of $125.07. Lebanon ended October with 15 new construction sales with a median sales price of $237,000 and a median price per square foot of $101.47.
Four sales took place in Watertown in October with a median sales price of $90,075 with a median price per square foot of $52.13 and 88 average days on the market. The sales price averaged 96 percent of listing price. Two of the sales were foreclosures or short sales with no new construction.
Old Hickory had 10 sales in October with a median sales price of $200,400 with no short sales or foreclosures, 49.5 average days on the market, a median price per square foot of $94.19 and 97 percent sales price compared to list price.
“Even though our sales numbers are less than they have been since February, we are in line with a normal trend in the fall season,” Hamilton said. “Homes going under contract are stable which will keep the sales going.
“Our inventory has risen slightly to a 5.7 month's supply based on available homes and current sales, but that is still a very stable housing market statistic.
“It is still very important to have your house priced correctly so you are attracting the buyers. They are still out there looking and are very serious because they can still get in their dream home in time for the holidays.”