by Flint Adam, Nolensville resident & Realtor®
Thursday, October 8, 2015
I bet you’ll be surprised when the day comes that I say “Williamson County home sales are down”. That day is not today.
Continuing the trend we’ve enjoyed all summer, sales throughout the county remain strong, and Nolensville is no exception. In fact, our town hit a stellar 50 closings in September – which is the most successful month of sales we’ve seen in at least the past two years!
Chip Kerr, the Williamson County Association of Realtors board president says of this year’s sales, “We are selling more homes for higher prices than we ever have before.” Pretty exciting – if you’re a home seller.
Let me highlight some of the county’s numbers before we dive into Nolensville, proper:
There were 474 single family homes sold in Williamson County in September, an increase of 11.8% over last year’s 424 mark, according to data from the Williamson County Association of REALTORS® (WCAR).
The 1,607 closings in the third quarter were up 12.7% compared to 1,426 homes sold in the same period last year.
The year-to-date numbers look remarkably similar. The 3,988 closings in the first nine months of 2015 were 12.6% higher than the 3,541 closings during the same time in 2014.
To add some perspective, the highest recorded number of homes sold from January to September of any year was 3,821 in 2006. That is 4.4% lower than the same period this year.
Wow! Let me say that again… WOW!
Sow how about home prices? In 2006, there was only one month out of that year with a median price above $400,000. This year the market has seen eight months above that mark.
The median price in the county for September 2015 was $398,553 – that’s 3.3% higher than last year’s $385,750. This was the first month since December 2014 that the median price was below $400,000. The decrease in median price is actually good news for buyers.
Now, let’s break down the Nolensville numbers provided by the Williamson County Association of Realtors. Keep in mind these figures do not include For Sale By Owner or Nolensville properties outside of Williamson County:
- Single-Family Homes Closed: 50… up from 43 in August
- Median Sold Price: $395,000… down from $415,000 in August
- Avg. Days on Market: 50… tied with August’s 50
- Number of new construction sales: 23… up from 20 in August
- Existing home sales: 27… up from 23 in August
- Median Sales Price/Square Foot: $138.49/sf
- Median Year Built: 2014
Nolensville’s largest neighborhood, Bent Creek, led the way with 17 properties closed.
Arrington Retreat came in second with 8 closings. Brittain Downs was third with 5 closings.
The average year built of the 27 existing home sales was 2002… with an average sales price of $399,283
Interested in up to date Nolensville TN real estate 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
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.
As I’ve pointed out before, late winter and early spring 2015 were hit or miss, unlike 2014’s generally slow-and-steady sales growth.
In fact, if you look at the blue line to the right, you’ll see a very classic example of a real estate market warming right along with the weather.
2015 is represented by the red line. Through April, I wasn’t quite sure how this year was going to play out, but then things took off and we’ve been seeing substantial sales every month since.
As for our year-over-year Nolensville sales numbers, 2015 remains a growth year. Through the end of September, there have been 330 closings, which is just over 7% stronger transaction-volume than through the same period a year ago.
At least 41 homes are under contract as of this writing, but 24 of them are new construction, and I have no way of guessing when they will be complete and ready for move in.
That leaves 17 existing homes that are presently under contract. I’ve also noticed that showings are slowing down, which is an indicator of seasonal slow-down.
My guess is we’ll see sales numbers drop in October – a pretty typical occurrence.
MORE Thank Yous…
I’m honored to have represented another 6 Nolensville families who sold homes in September.
- 6001 Fishing Creek Road – under contract in 13 days
- 7482 Nolensville Road – under contract in 59 days
- 980 Dortch Lane – under contract in 13 days
- 2493 Rocky Fork Road – under contract in 1 day
- 4705 Jobe Trail – under contract in 33 days
- 9854 Sam Donald Road – under contract in 53 days
I’ve now represented buyers and sellers on 25 Nolensville closings in 2015. I focus my real estate practice right here in town and would be honored to work with you next!
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.