Nashville Tennessee Living

Nashville TN Real Estate 

Villages of Brentwood October/November 2011 Market Report

The sales in Villages of Brentwood more than doubled in October and November, compared to the number of homes sold in 2010. Only 2 homes sold in the two month period in 2010 and 5 homes closed in the same period this year.

The Days on the market dropped from 107 days to only 70.

The average sales price on the 2 homes sold in 2010 was $184,450. The average of those sold in 2011 was only $148,660. However the Average Sales Price per Square Foot on dropped from $89.32 to $87.31. This indicates that the homes that sold this year were considerably smaller than those of last year.

In the Villages of Brentwood, there are currently 6 homes actively for sale with an average asking price of $163,966. The average asking price/square foot is $104, a good bit higher than those sold. These homes have already been on the market for an average of 69 days.

Homes continue to sell in December and January, but only those priced correctly.

Brentwood TN Real Estate November 2011

Sales were up just 1/2 of a percent in November compared with the November sales in 2010. The number went from 40 closings in 2010 to 42 in 2011.

The Average List Price went from $620,128 to $707,107 up 14%.

The Average Sales Price increased from $587,054 to $669,733 also up 14%. 

Brentwood TN Real Estate has floundered somewhat the past couple of years.

There has been an up-turn of the higher end properties selling. This is the main reason for the steep increase in prices.

We looked at the median sales price, the numbers went from $528,750 to $589,874. This was still a 12% increase.

The average days on the market are down from 111 to 103. This is a great sign for sellers as we head back into the spring market in the next few months.

Nashville TN Real Estate 

Villages of Brentwood 2011 Detailed Fall Market Report

This report covers the first 3 quarters of 2011 compared to the same time period of 2010. The numbers should not be alarming since there was no tax incentive this year.

Many people bought houses just because of the Tax Incentive. Some  were not sure if they were ready or not last year but took the plunge anyway. That drove the numbers up dramatically.

There are currently 10 homes on the market with an average asking price of $158,165. Two of these have home inspection contingencies. There is one pending.

October should have above average number of closings. The number of homes on the market show that inventory is stable if not leaning toward a sellers market.

Nashville TN Real Estate 

Bradford Hills Fall 2011 Sales Report

Sales were down a bit for the first 3 quarters of 2011.

In Bradford Hills, 13 of the 17 that closed in 2010 qualified for the First Time Buyers Tax Incentive! That made a huge difference in the two years numbers.

By all accounts, sales are steady in Bradford Hills with prices just down 3%. Combining the numbers with Holt Woods, there have averaged 3 sales each month and there are currently 17 homes on the market.

The market is considered stable with a 6 month supply of homes. With just under 6 months, one would assume that the market seems to be in balance at this point.

Nashville TN Real Estate 

Holt Woods Fall 2011 Sales Report

Sales are up considerably in Holt Woods. For whatever reason, sales in 2010 were sluggish and the Tax Incentive did not push them up. 2011 on the other hand as seen a steady number of properties sold.

Just looking at the chart, it appears that the prices have decreased a lot. Because there is such a wide range in the sizes of the homes, we also looked at the average Sales Price per Square Foot (spsf). The 5 homes that sold in 2010 had an average SPSF of $91.29. The average SPSF in 2011 was $91.08 down less than .2%!

This is great news for homeowners. With only 4 homes on the market, there is just a 3 months supply.

Holt Woods is usually combined with Bradford Hills when we look at supply. In total, there were 26 home sales, year to date, and there are 17 active listings. That puts us right at a 6 month supply, or even inventory.

Franklin TN Real Estate - August 2011 Market Report

All the numbers are up in Franklin this August! This is a great sign for the Franklin Real Estate market!

                            2010           2011       Percent increase

# of homes sold    124              129                +3%

Avg List Price      $392,134    $410,794           +3.5%

Avg Sales Price   $381,122    $391,737           +3%

GNAR (the Greater Nashville Association of Realtors) reported that home sales in the Middle Tennessee area were up 28% over the same period in 2010.

The first half of the year had distorted numbers because of the Tax Credit Incentive that was offered in the spring of 2010. The market is truly beginning to stabilize finally.

Inventory is down about 11% but there is still a 10 month supply of homes. This time last year there was a 15 month supply. This is good news for those hoping to sell this fall.

Nashville TN Real Estate - Holt Woods 2010 Market Report

The Numbers in Holt Woods are all over the place this year. Instead of doing a chart we'd like to explain the dynamics of the Market in Holt Woods. There are over 40 different floor plans with the homes ranging in size from just over 1100 square feet (sqft) to almost 3000 sqft. This means that prices can vary by up to $70,000.

Home sales were down 30% for the year over 2009, from 10 to 7. The average price/square foot appeared to also be down 10%. However, upon close examination, of the 7 sales in 2010, only 3 of them were over 2000 sqft, where of the 10 in 2009, all but 1 were over 2000 sqft.

Larger houses typically sell for more than smaller houses, thus the higher average sales price. Still along this thought, the smaller houses are mostly ranch style homes. Will all of the homes having 1 kitchen and 2 or 2.5 baths, the cost of the smaller homes is often considerably higher in the price per square foot than the larger.

With all of that said, prices are down a bit. There are currently 8 homes on the market or a 14 month supply. The days on the market increased from 70 days to 96 in 2010. The 8 homes for sale, have been on the market for an average of 107 days.

We are seeing activity pick up and hopefully these homes will be sold before the new spring crop of listings.

Don't forget to join the Holt Woods Community Page on Facebook for updates on the market and other local happenings. Post your own neighborhood events there!

Nashville TN Real Estate - Villages of Brentwood  2010 Sales Report

The Villages of Brentwood had mixed reviews this past year. Sales were up 23% for the year but sales prices fell 6%. The fall quarter sales were down 25% where there had been 8 closings in the last quarter of 2009, there were only 6 in 2010.

The Villages of Brentwood is in Area 1 of the local MLS. If we compare their sales with the area in general, sales were down in Nashville, area 1, by 18% instead of the 23% increase in this neighborhood. The overall sales prices were only down 1/2 of 1% in Nashville compared to the 6% decrease here.

If you remember that in the fall of 2009 Congress had authorized a tax credit for those who purchased first time homes and closed before the end of December. In 2010 the same credit was given in the first 4 months with closings needing to occur by the end of June.

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Villages of Brentwood is located in South Nashville near the Nippers Corner area. It is straight east of Brentwood and half way between I-65 and I-24. Just off Old Hickory Blvd and Edmondson Pike, one has easy access to all parts of the city.

Don't forget to join the Villages of Brentwood Community page on Facebook to keep up with market information and area events. Post your own neighborhood events there!

Nashville TN Homes Sales Increase for Fifth Straight Month

A 3.2% increase doesn't seem to be a lot but after 2 years of declining home sales and home prices, anything in the positive direction is a call for celebration.

The GNAR - Greater Nashville Association of Realtors - released the following statement:

"The number of closings are up from last year, which has been the case now for five consecutive months. Pending sales have also increased, which is a positive sign for what we can anticipate for the spring,” said GNAR President Lucy Smith. “With median residential prices virtually the same as last year, median condo price down slightly and interest rates still remarkably low, the overall market remains stable with some cause for optimism as people take advantage of these conditions."

Nashville TN Home sales have not bounced back to the numbers of 2006, but they are definitely headed in the right direction.

These were the numbers for January 2009. The following were February 2009:

Now look at what has happened thus far in 2010. These figures show exactly what has happened these past few months.

The Pendings really tell a lot about what is happening here in our market. Most expect March thru June to have a large increase over 2009.

If you are looking to buy a Home in Nashville TN, now would be a good time to get started. If you are thinking of Selling a Home in Nashville TN, don't wait until the buyers have disappeared. Call a Realtor now. See what you need to do to prepare your home for sale.