March showed a nice turnaround in the housing market in Wilson County with 127 homes sales, up from 99 in February, and the number of in homes under contract increased from 126 in February to 181 in March, as well.
That was the word Thursday from Amy Hamilton of the Eastern Middle Tennessee Association of Realtors, or EMTAR.
“The median sales price dropped a little over $24,000 to $172,485 and the days on the market increased 15 days, up to 85. With 424 new listings on the market in March, raising our overall inventory to 1,191, our housing supply in Wilson County is a little over 9 months, still creating a buyer’s market,” she said.
Hamilton noted, “With the availability of homes for sale throughout Wilson County and the homebuyer tax credits coming to an end April 30, it is crucial for sellers to make sure their homes are priced competitively as well as being staged well and in good repair.”
There are still a large number of foreclosures on the market and sellers must be able to compete with them since many of the foreclosures are in very good condition as well.
“We are seeing much more activity with many Realtors reporting that offers being submitted recently are becoming multiple offer situations, where more than one offer is received on a home at the same time. This is happening on privately owned homes, not just short sales and foreclosures,” Hamilton added.
Lebanon’s housing activity did very well in March with 56 closed homes with a median sales price of $172,900 with a median of 75 days on the market. She noted that 15 of the 56 closed homes were new construction. “Lebanon’s market has not been as strong as Mt Juliet’s in the past few months but had a nice comeback in March.”
Mt Juliet held its own ending with 58 closed homes with a median sales price of $189,945 and a median day on market at 101. Hamilton said 17 of those 58 closed were new construction. “Providence continues to be a strong attraction to Mt Juliet with both the shopping and the availability of the new housing opportunities there.”
Old Hickory came in strong in March with 10 homes sold at a median sales price of $149,900 and a median day on the market of 78.
“Compared to March of 2009, we increased in sold homes by 19 and homes under contract by 57. Interest rates continue to be very low and housing is as affordable as it has been in many years. With the availability of homes, we expect to continue to see the housing market in Wilson County to remain strong,” she said.