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.

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.

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.

Nashville TN Real Estate - Holt Woods 2009 Fall Report

The number of home sales is down 30% in Holt Woods this year. This number is very consistent with the Greater Nashville Area's statistics for 2009.

The most interesting trend that one sees is that most of the sales listed below occurred in the months between June and September during 2009. The bulk of the sales in 2008 occurred between May and July, and the year ended with one sale in September and one in October. 2009 looks like it will pass 2008 this fall in sales. There are already more closing on the books than occurred last fall.

There are currently 5 homes on the market and one pending. The balance of inventory to sales is in balance and possibly low in inventory. First time Homebuyers are still grabbing homes in this price range to close before the tax credit ends on November 30th.

Nashville TN Real Estate sales are down 30% for the year compared with this time in 2008. Nashville's Sales prices are down an average of 11%.The days on the market are very similar to last year and are averaging 77 days.

Connie Harvey is a full time Realtor with Prudential Woodmont Realty Group in Brentwood TN. She services both Buyers and Sellers with their Real Estate need in Nashville TN, Franklin TN, Brentwood TN and surrounding areas. She is also an Active Homeowner in Holt Woods.

She can be reached at 615-661-7800 x 1300 or HarveyC@realtracs.com.

Follow her Blog, Nashville Tennessee Living.