by Flint Adam, Nolensville resident & Realtor®
Happy New Year!
Wow – I don’t know about you, but 2014 screamed by for me. I’m still digesting my Thanksgiving turkey-dressing, and here it is already the start of 2015! I wish it was a bit sunnier (as in, any sun at all), but we’ll take what we can get…
Nolensville saw another year of extraordinary real estate figures in 2014, and December was no exception. In my last sales analysis (found here), I expected December’s sales to eclipse those of the prior year when Nolensville saw 28 homes sell in the jolly ‘ol month of Saint Nick.
Well, December 2014 really rocked it…
The following numbers come from sales data available to Realtors® via the Middle Tennessee Multiple Listing Service. These figures are preliminary, and the Williamson County Association of Realtors will have the final tally in just a few days. Until then, here is what I’ve found:
- An astounding 47 homes sold in Nolensville in December 2014. This makes it the #1 month of the year for residential sales by a 9% margin! The closest any other month came was 43 sales back in September. I think this lays to rest the old assumptions that December is traditionally a dead zone in real estate.
- Neither October or November residential sales in Nolensville cracked 30.
- Residential sales cracked 40 only four times in 2014… July (41), August (41), September (43), and December (47).
- Bent Creek again led the way with 19 sales, or 40% of the marketplace.
- The average sales price was $390,569… down from $433,481 in November.
- The average price per square foot was $135.05/sf.
- The average days on market was 49… down from 71 in November.
- 29 of the 47 sales (or roughly 62%) were new construction. See my 2015 predictions article (here) explaining why I expect more of this trend in 2015 – bullet point 3.
It’s really quite impressive to hit such a sales figure in a month full of traveling, holiday preparations, and kids being out of school. Even I wasn’t expecting a number so robust. It really drives home an important point, though: buyers are out there all year round.
Overall days on market came down a good bit from November thanks to the many new construction closings that were entered in with 0-days on market. This really skews reality for existing homeowners. When I take out all the new construction, the actual days on market for existing home sellers in December was 75 days… or roughly 54% longer than the above picture states. Big difference.
Six more town homes in Bent Creek closed in December with prices ranging from $206,320 to $243,850. These units are between 1,600 and 1,800sf. They, along with one sale on Old Horton Hwy., are the only sub-$300K (Williamson County) sales for December.
2097 Delaware Drive in the Benington subdivision (new construction), tallied the high-score for the month at $691,669.
The Year in Review:
Within the Williamson County limits of Nolensville in 2014, a total of 409 homes sold.
The average price for those homes was $373,199… compared to $371,052 in 2013.
The average days on market was 57… compared to 62 in 2013.
The average price/sf was $130.82… compared to $124.29 in 2013.
You probably noticed that the appreciation in selling price wasn’t all that much year over year… only $2,147 (just over half a percent).
Well, there’s another side to that coin – square footage. There was an appreciation of $6.53/sf year over year. The difference is that average square footage for homes sold in 2014 was smaller than in 2013 – by 132.5 square feet.
Nolensville homes sold in 2014 were almost 5% smaller than Nolensville homes sold in 2013. It reminds me of what’s happening in restaurants: they’re keeping prices roughly the same as what they recently were, but they’re downsizing portion-size in order to boost profitability.
I’ve already spoken with several folks who plan on putting their homes up for sale in January and February. Some out of necessity, others because they want a jump on the home-selling season. I think this is wise.
We do not live in a market where the residential sales cycle lives and dies between the months of April and September. It’s year-round here, and as December just showed us, traditionally off-peak months can wind up being the strongest for sales.
If you know you’re going to sell in 2015 – and you’re in a position to list your home sooner rather than later – I’d recommend getting the ball rolling. I’m happy to do a no-obligation consultation with you, and if you decide we could make a great team, I’d be honored to represent you in the sale of your home.
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.
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.