if your looking for your home sweet home?Better act now!Good inventory is dwindling down and now is the time to buy, EMTAR (Eastern Middle Tennessee Association of Realtors) Public Relations Chair Amy Hamilton said.
"Prices aren't going to go much lower and interest rates are creeping [up] a little bit," Hamilton said of the housing market. "It is improving all the time."
Hamilton said that Wilson County has survived in the real estate market by adjusting their level of supply and demand.
"Real estate is very local. Fortunately, we didn't have the huge bubble that busted. We just had to adjust to the overall housing market. Things are still selling pretty close to asking price. There are exceptions though – there are foreclosures," she said.
November residential real estate sales in Wilson County improved.October ended with 144 closed residential single family homes with a median sales price of $181,390.
"Median days on the market of 87, and 154 homes going under contract for future closing dates," Hamilton added.
Hamilton said inventory dropped slightly to 8.2 months, and that it is still very much a buyer's market.
Removing the new construction numbers from the equation and looking at only existing home sales, the median sales price is $159,500 with a median days on the market of 79 and median sales price per square footage of $85.16.
Hamilton said Lebanon produced 52 sales in October – eight of which were new construction and six of which were foreclosure/short sales.
"The median sales price of existing residential homes is $140,000 with median days on the market of 104 and median sales price per square footage of $82.74," she said.
Hamilton said Mt. Juliet continues to dominate the county in sales.
"Providence is a huge draw. Plus it is close to the airport and people have the commuter train [Music City Star]," she said. "Many have been coming into Providence Del Webb Communites from other areas. I've seen a lot of first time buyers who were raised in Wilson County TN Real Estate market and are staying here."Hamilton said it is all about the individual's needs when buying a home.
"Schools are important to a lot of people. To some people being close to the interstate is important."
Mt. Juliet produced 79 sales in October – 36 of those sales were new construction and 14 were foreclosure/short sale. Twenty-nine of the home sold were existing resale homes. The existing home median price in Mt. Juliet TN Real Estate is $173,365 and median price per square footage is $86.22.
Watertown had two sales, one of which was a foreclosure.
Hamilton said she hopes to see serious buyers ready to move during the holiday breaks.
"The demand is going to be there and the supply is going to be there. We just have to keep working hard, keep pushing and doing what we do," she said. "Real estate is an investment.
Wilson County TN Real Estate For Sale
By Price Range
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The Goodman Group
C21 WMRA
615-444-7100 office
615-476-2953 direct
thegoodmangroup@me.com email
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www.thegoodmangroupcrs.blogspot.com
Story credit goes to www.lebanondemocrat.com
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