by Flint Adam, Nolensville resident & Realtor®
Wednesday, July 8, 2015
SIZZLING – that’s the best way to describe Nolensville, and the rest of Williamson County’s, real estate sales in June 2015.
First things first, let’s dive into stats for the Town of the Broken Wheel…
These are the official sales figures as released by the Williamson County Association of Realtors:
- Single-Family Homes Closed: 47… up from 44 in May
- Median Sold Price: $399,900… up from $399,450 in May
- Avg. Days on Market: 62… up from 54 in May
- Number of new construction sales: 21… up from 14 in May
- Existing home sales: 26… down from 30 in May
- Median Sales Price/Square Foot: $140.31/sf
June 2015 tied December 2014 for the strongest month of Nolensville residential sales in at least the past year and a half.
To provide further perspective, consider this: in June 2014, there were only 31 Nolensville sales. So, our year-over-year sales growth was 52%. The Median Sales Price/Square Foot has also grown – in June 2014 it was only $129.51/sf.
So yeah… wow! June 2015 is one for the record books.
Among Nolensville subdivisions, Bent Creek led the way with 12 closed sales… Arrington Retreat came in second with 5.
Interested in up to date 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 to email@example.com
Williamson County 2015 Sales Figures
There were 624 home closings in June, according to data from the Williamson County Association of Realtors® (WCAR). That is an increase of nearly 20% from the 522 closings reported in June 2014.
Condo closings also rose 34% from the same time last year (from 32 to 43).
Thompsons Station days on market dropped 64% (75 to 48) while closings rose 65% (43 to 71) compared to last June.
The June closings rounded out a strong second quarter (Q2) that saw 1,496 closings, a 14.7% increase from last year’s 1,304.
The year-to-date numbers are 12.6% higher, with 2,381 closings through June 30 compared to 2,115 during the same period last year.
Visualizing the Numbers…
Time now for a visual representation of our sales figures year-to-date. This is Nolensville residential sales data as reported by our local MLS (RealTracs) and only cites the Williamson County sales figures. For Sale by Owner and Nolensville homes in Davidson and Rutherford counties are not included.
First off – here’s a line graph comparing month-by-month home sales in Nolensville for 2014 and 2015.
In 2014, we saw slow but steady growth from February through May before a slight downtick in sales in June.
2015 began much more topsy-turvy, but sales have not only stabilized the past two months – they’ve impressed!
Notice our strong May and June 2015 sales. These represent two of the three strongest sales months we’ve had out of the past 18!
And it’s a healthy balance of both new construction and existing homes, too.
Meanwhile, here’s a line graph showing this year’s total sales compared to 2014’s:
It took six months to do it, but we’ve finally pulled ahead of last year’s sales pace. In fact, we’re now showing overall growth of 6% following our strong June sales.
You may remember an article I wrote several months ago forecasting Nolensville’s 2015 real estate market (click here to read). In it, I predicted that after three years of double-digit sales growth, we’d see that number ease back into the single-digits for 2015… perhaps 8% or 9% growth.
I believe we’re still on track for that. July should be another strong month, and then we’ll see sales begin to wane as we head into fall.
As of this writing (July 8th) there are 157 single-family homes showing as ‘Active’ on MLS. 50 of them are under contract leaving 107 homes that are still available for sale.
65 of those 107 are brand new construction… meaning 42 are available on the re-sale market.
For the re-sales, the median days on market is 27.5 right now. 7 have been listed ten days or less… and 7 have been listed 100 days or more. The remainder largely fall between 20 and 60 days on market, which is typical of Nolensville right now… but still waaaaaaaaaay fewer days on market than what would be considered a ‘normal/healthy’ real estate market.
We remain in a seller’s market with an average supply of around two months. Six is considered normal.
If you’d like to see what’s available yourself, just drag your mouse up to the top of this page and click on ‘Nolensville Home Search’ (or one of its sub-searches that appear below).
TRID Delayed Until October
Last month, I told you about the impending changes for the closing process known as TRID (TILA-RESPA Integrated Disclosure). Long story short, the new policy affects disclosures and documents associated with mortgage loans as they relate to residential real estate.
The new policy will require that all transaction forms be ready three days prior to closing. Sounds easy, but it will likely lead to a lot of complications when initially rolled out.
Well, the good news for consumers is the policy is now delayed from its original August 1 start date to October 1. This is good because October, November, and December tend to be slower months in real estate, so fewer transactions will be affected by the changeover in rules.
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.