by Flint Adam, Nolensville resident & Realtor®
Tuesday, May 5, 2015
Happy Cinco de Mayo! I’m fresh back from a trip with my wife to San Diego, so we’ve already been enjoying a little Spanish heritage. Ah, but now we’re back to the lovely hills and (warmer/muggier) familiarity of sweet Tennessee! I wouldn’t have it any other way… though, that ocean breeze will be missed.
Fun fact: the fifth of May is celebrated to honor Mexico’s victory over France at the Battle of Puebladuring the Franco-Mexican War (1881-1867). A small band of Mexicans were able to defeat a massive French army on May 5, 1882. Gotta love the underdogs!
I hope to raise a cerveza today and celebrate the victory… but there’s lots of catching up to do with work. Oh, the pitfalls of vacation… ugh.
So, here’s hoping you enjoy the celebration (in a safe and responsible manner, of course). Now… let’s talk some real estate!
April was a fun month for this Nolensville REALTOR® as I closed out four Nolensville real estate deals (representing 2 seller transactions and 2 buyer transactions). Many homes continued selling fast and there were even multiple offer situations on a few of them. Much of this, though, speaks to the continued inventory issues we face (more on this later).
(UPDATED 5/8/2015 with final sales numbers) The Williamson County Association of REALTORS® has now released final data for Nolensville’s residential sales stats:
The media price for Williamson County single family homes in April rose 11.8% year-over-year – the largest increase in the past five years.
Meanwhile, the median price of Williamson County condos rose 26%… and there was a 31% rise in land price… year-over year.
Now – the final stats for Nolensville (Williamson County) single-family residential sales:
- Single-Family Homes Closed: 22
- Median Sold Price: $393,094
- Avg. Days on Market: 55
- Number of new construction sales: 6
- Existing home sales: 16
- Inventory: 147
- Pending: 66
Bent Creek again led the way with 7 transactions… Brittain Downs came in second with 3.
The sales numbers are a step down from last month’s 38… and look poor compared to our past 2 Aprils… but dig back further in recent history and you’ll see that it was actually above average over the past 10 years.
- April 2014: 32 sales
- April 2013: 29 sales
- April 2012: 18 sales
- April 2011: 20 sales
- April 2010: 19 sales
- April 2009: 10 sales
- April 2008: 17 sales
- April 2007: 27 sales
- April 2006: 16 sales
- April 2005: 10 sales
That’s a 10 year average of 19.8 sales each April. So, we’re doing just fine for the month.
For the year so far, though, (through April 30)… there are 99 Williamson County Nolensville sales. At the same point last year, we were at 114, so we remain behind the pace – roughly 13% off the most recent mark.
Interested in the latest sales figures? I’m rolling out a new feature for readers – I’ll email you a daily update on Nolensville real estate… complete with new listings, what has gone pending, and recent sales. Just shoot me an email with your name and preferred email address using the contact box to the upper right hand side of this page.
There’s a lot of chatter these days in the real estate industry regarding inventory. The Tennessean had a recent article on this topic (click here to read), and it is my belief through observing the local market that this year’s lower sales figures (thus far) have more to do with inventory than slowing momentum.
Savvy, local REALTORS® have been mining social media and personal contacts for any edge they can get on upcoming listings. It’s competitive on the buy-side, folks… especially in the holy-grail $350,000 and below price range.
As of this writing (5/5/2015) there were a total of 16 homes in Williamson County Nolensville priced $350K or below. Of those 16, 7 are under construction – that leaves only 9 homes that are available and not currently under contract in this price range… and they’ve been on the market a median 13 days.
One concern I’ve heard in conversations with local home owners is a timidness to sell… because they’re worried about buying afterwards. This is not an impossible task, but it speaks to the importance of working with a local REALTOR® who both understands the market and can develop a game-plan that doesn’t leave you high and dry when it comes time to buy. If you plan on staying local after you sell or are building a new home in Nolensville, coordinating time lines is imperative. I’ve already worked a few deals like this in Nolensville this year – both with folks building a new home in town or simply moving to another existing home.
Speaking of buyers, I have just added an accreditation I’m proud of. I’m a newly-minted Accredited Buyer’s Representative or ABR.
As an Accredited Buyer’s Representative, I have gone through additional training, have proven experience representing buyers and that extra edge you have been looking for.
What makes an ABR® the right choice for you?
The ABR® designation is only awarded to licensed real estate professionals who complete specialized training that gives them the edge in understanding a buyer’s perspective and protecting and promoting their buyer-clients’ interests. Before earning the ABR® designation, buyer’s reps must also demonstrate proven experience in representing buyers. Further, they are committed to maintaining their professional edge by staying current on the latest issues and trends in buyer representation.
In addition to knowing the dynamics of the local market, REALTORS® with the ABR® designation understand the special needs of buyers. They have additional knowledge and experience that takes them a step beyond an agent who only concentrates on listing property for sellers. An ABR® can provide you with valued assistance throughout the transaction and help you make informed decisions that will lead to a successful home purchase.
As an ABR®, I can help you:
- Understand your specific needs and wants, and locate appropriate properties
- Assist you in determining how much you can afford (pre-qualify your mortgage)
- Preview and/or accompany you in viewing properties
- Advise you in formulating your offer
- Help you develop your negotiating strategy
- Provide a list of qualified vendors (inspectors, attorneys, lenders, etc.) for other services you may need
- Keep track of every detail throughout the transaction — to closing and beyond
Not all buyers’ representatives are equal. Only a buyer’s rep who has earned the Accredited Buyer’s Representative designation has made the extra effort to raise the bar, with additional training and experience. If you work with an ABR®, you can feel confident that you’ll receive the highest level of buyer-representation services.
The ABR® designation is awarded by the Real Estate Buyer’s Agent Council (REBAC), a wholly-owned subsidiary of the National Association of REALTORS® (NAR).
I’m a Nolensville TN resident… I’m a Nolensville TN Realtor®… and I always offer a complimentary, no commitment, no pressure Comparative Market Analysis for my neighbors. Please let me know how I may assist you in the sale or purchase of a Nolensville property.
Interested in the latest sales figures? I’ll email you a daily update on Nolensville real estate… complete with new listings, what has gone pending, and recent sales. Just shoot me an email with your name and preferred email address using the contact box to the upper right hand side of this page.
Note: The above information cites Williamson County sales data for Nolensville, Tennessee. There are, of course, a handful of Nolensville properties that also exist in Davidson and Rutherford counties, but for the purpose of this article I am focusing on Williamson County since a majority of Nolensville addresses fall within this geographic area.