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VOL. 37 | NO. 40 | Friday, October 04, 2013




Middle Tennessee home sales up 22% for 3rd qtr.; Prices up 9%

By Bill Lewis

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Midstate real estate trends for Third Quarter 2013

August 2013 real estate trends for Davidson, Williamson, Rutherford and Wilson counties, as compiled by Chandler Reports.

Chandler Reports has been publishing Real Estate Market Data since 1968. That year, Chandler began collecting residential sales information for the Chandler Residential Report, considered the authoritative source for residential real estate sales information. Over the next three decades, the publications have been continually refined, enhanced and expanded, growing to include lot sales data, new residential construction and absorption information, and commercial sales. In 1987, Chandler Reports began one of the first on–line real estate market data services in the country, and is a nationally recognized leader in the industry. In 2004, Chandler Reports was purchased by The Daily News Publishing Co. In 2007, Chandler introduced RegionPlus, including property research for Nashville and Middle Tennessee. Visit online at chandlerreports.com.

Davidson County by Price Range

Davidson County by Zip Code

Williamson County by Price Range

Williamson County by Zip Code

Rutherford County by Price Range

Rutherford County by Zip Code

Wilson County by Price Range

Wilson County by Zip Code

Midstate real estate trends for September 2013

Davidson County by Price Range

Davidson County by Zip Code

Williamson County by Price Range

Williamson County by Zip Code

Rutherford County by Price Range

Rutherford County by Zip Code

Wilson County by Price Range

Wilson County by Zip Code

 

Home buyers moving to the Nashville region from other states are turning the real estate market on its head, buying expensive new homes in urban neighborhoods that once were overlooked and creating fast-growing suburbs around the city.

People moving to the region “don’t have imaginary boundaries in their heads,” says John Brittle, director of land sales for Infill Nashville, a local real estate firm.

The result was double-digit growth in home sales across the region and rapidly rising prices during the third quarter of the year.

“People are moving from Florida, California, Texas, Arizona. People from New York and New Jersey can’t believe the home values and low taxes,” says Margaret Dixon, a Crye-Leike Realtor in Wilson County.

The television show “Nashville” has attracted attention to the region, says Realtor Clay Kelton, with Pilkerton Realtors.

“There’s a lot of buzz attracting people here,” he says.

In Davidson County, home sales during the third quarter were up more than 22 percent and prices were nearly nine percent higher than the same period of 2012. During the months of July, August and September, there were 4,040 sales for an average price of $219,751. A year earlier, there were 3,310 sales for an average of $201,777, according to a market survey by Chandler Reports.

Neighborhoods in the Capitol District near downtown’s Bicentennial Mall – Hope Gardens, Buena Vista, Germantown and Salemtown – were among the most active. During the third quarter there were 118 sales throughout the area, a 57.3 percent increase over the 75 sales last year. The average price was $193,579, an increase of nearly 80 percent over last year’s average price of $108,824.

Homes in the Capitol District are within walking distance of the site where Mayor Karl Dean has proposed construction of a new ballpark for the Nashville Sounds.

In Williamson County, sales during the third quarter were up 31 percent and prices were 12.1 percent higher than last year. This summer, there were 1,785 sales for an average price of $407,500. During the third quarter of 2012, there were 1,363 sales for an average of $363,441, according to Chandler Reports’ market survey.

The small town of Thompson’s Station has become one of the fastest-growing suburbs near Nashville. There were 124 sales during the third quarter, a 65.3 percent increase over last year’s 75 sales. The average price was $297,418, an increase of nearly 28 percent over last year’s average of $232,527.

Growth in Thompson’s Station is just getting started. Miami-based Lennar Homes, one of the nation’s largest home builders, plans to build 700 homes in the Tollgate Village and Bridgemore Village subdivisions.

In Rutherford County, sales were up nearly 18 percent and prices were 4.6 percent higher than a year ago. During the third quarter, 1,584 homes were sold for an average price of $173,041. During the same period last year, there were 1,345 sales for an average of $165,430.

In Smyrna, where Nissan manufactures its LEAF electric car and other vehicles, there were 251 sales, a 25.5 percent over last year’s 200 sales. During the third quarter of 2013 the average price was $162,251, an increase of nine percent over last year’s average of $148,914.

In Wilson County, third-quarter home sales were up more than 14 percent and prices were nearly 11 percent higher than last year. Last quarter there were 794 sales for an average price of $217,723. During the same period last year there were 695 sales for an average of $196,730.

In fast growing Mt. Juliet, there were 396 home sales, an increase of nearly 11 percent over last year’s 357 sales. Last quarter’s average price was $243,655, an increase of 14.5 percent over the average price of $212,762 during the third quarter of 2012.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0