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Home sales in Wilson continue to climb

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As the real estate market continues to slowly rebound, Wilson County continues on an upswing as May 2010 produced more residential home sales than any other month since August of 2008. Figures from the Eastern Middle Tennessee Association of Realtors, or EMTAR, show Wilson County ended the month of May with 154 sold residential homes with a median sales price of $173,235 and 160 homes going under contract. May ’09 produced 125 sold homes and 139 going under contract with a median sales price of $199,900.Of the 154 closed transactions in May, Mt Juliet produced 87 of those with a median sales price of $186,000 and average days on the market of 56. Of those 87 total sales, 11 of those were foreclosures and/or short sales and 37 of the sales were new construction, which leaves 39 existing home sales.Lebanon produced 52 of the 154 closed sales. Lebanon’s median sales price in May was $145,900 and the median days on the market was 51. Of those 52 sales, nine of those were foreclosures and four of those were new construction. That left 39 existing homes that closed in May. “Countywide we are averaging about 15 percent of our total home sales being contributed to short sales and foreclosed homes and around 27 percent being new construction, mostly in the Mt Juliet-Providence area,” said Amy Hamliton, a Realtor who heads up public relations for EMTAR.“Nationwide figures are showing that housing is up 7.6 percent from a month ago and 22.8 percent from a year ago. These figures are based on all residential sales including single family homes, condos, and townhomes. The Wilson County data is based on single family homes only and shows a 5 percent increase from a month ago and a 19 percent increase from a year ago so based on those figures, Wilson County is doing well compared to the National Average,” she said. Hamilton noted, “With the still strong influence of short sales and foreclosures in the market, the median price, in many areas, is not able to increase like many would like to see. However, with the interest rates still in the 4’s, more people are able to buy more house and the increase in sales will help to wash the stress sales from the market and cause our existing home sales to rebound quicker.“Based on the past year and our continued increase in sales, the fact that interest rates are continuing to remain amazingly low, and the availability of homes for sale, I think the remainder of the year should continue to stable for Wilson County,” Hamilton added. She said, “Mt Juliet continues be a big draw for businesses and residents looking to live close to Nashville but to experience all the benefits of lower taxes, great shopping, and a community atmosphere. Providence and the surrounding developments are continuing to be a great draw and economical asset to Wilson County both commercially and residentially.“Lebanon continues to be a staple of hometown living. Lebanon’s housing numbers continue to be strong without the large new construction areas so existing home sales continue to dominate the Lebanon market. The town Square is a favorite to visitors and a source of pride to residences. “Wilson County is so vastly different from Watertown to Mt Juliet and in between. We have a place for everyone to feel welcome and at home. Lower property taxes, great shopping from antiques to modern, transportation, proximity to the airport, great schools and churches, and community interaction and support for each other, Wilson County is ‘The Place to Be,’” Hamilton noted.
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