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!
Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.
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Ranch/Rambler homes are priced higher here too, until they all get some age in a community and then it doesn't matter too much.
Ramblers are rarely constructed here although a builder in my neighborhood is bringing in a single level floor plan early this year.
Lenn - They're very popular here and are always more expensive price/sqft. Our appraisers will not do comparables mixing one and 2 story homes. It's always ranch to ranch, 2 story to 2 story.
My goodness. An appraiser who can't adjust different home styles needs more training. That's sad. Of course, it's easy, but sad.
Lenn - I understand exactly where you're coming from. This Holt Woods neighborhood is 1/3 ranch style homes. In the surrounding neighborhoods there might be 1/4 of the homes as ranches. So they tend to compare ranch to ranch because there are so many.
I always think how odd Nashville is compared to many parts of the country. Everything is newish here. We don't have a lot of the interesting old neighborhoods. Well not in the areas I work. East Nashville would qualify and it's kind of up and coming. But one street is nice the next is awful. It's the type of area that you pretty much need to specialize in. Too far away for me to do that.
Hi Connie! I "like" your Holt Woods FB page. Do you have others?
Ann - I have 8 or 10. All the neighborhoods that I blog about. Did you go look at it?
Hi Connie, I like the way you broke it down and pointed out some specifics.
Joyce - Thank you. There is so much more to the numbers than one can imagine.
Connie, I did look at the Holt Woods page.....nice! I need to look into setting some up too.