MIDDLE TENNESSEE REGION
2Q 2019
54
10%
2Q 2018
49
Q2 ˇ19 REPORT
1.5% 1.5%
>
1,187
1Q19
5%
164
1,266
1Q18
>
>
20%
138
>
>
1,238
1Q17
180 72%
0
100
500
1,000
1,500
>
0
2,000
Sumner Davidson
Williamson INCREASED IN Q2 2019 VS. Q1 2019
Maury INCREASED IN Q2 2019 VS. Q1 2019
Wilson
Rutherford DECREASED IN Q2 2019 VS. Q1 2019
TA B L E O F C O N T E N T S DAVIDSON COUNTY
Sumner
7.9%
3
INCREASED IN Q2 2019 VS. Q2 2018
MAURY COUNTY
6
RUTHERFORD COUNTY
9
SUMNER COUNTY
12
WILLIAMSON COUNTY
15
WILSON COUNTY
18
Davidson
7.9%
INCREASED IN Q2 2019 VS. Q2 2018
Wilson
8.7%
INCREASED IN Q2 2019 VS. Q2 2018
Williamson
1.8%
INCREASED IN Q2 2019 VS. Q2 2018
Rutherford
1%
DECREASED IN Q2 2019 VS. Q2 2018
Maury
10%
INCREASED IN Q2 2019 VS. Q2 2018
* Single Family Homes Sold
DAV I D S O N C O U N T Y Q 2 2 01 9 DATA H I G H L I G H TS
As the summer heats up, so does the Middle Tennessee real estate market. While more inventory exists and homes tended to stay on the market longer during the second quarter, Davidson County is still seeing many multiple offer situations, particularly for homes priced below the median sales price. The market has stayed strong in terms of sales prices, with the median sales price rising approximately 2.7% and the average list to sales price rising just at 1%.
During the second quarter of 2019, data showed that closings were up nearly 8% from closings during the second quarter of 2018. Average days on market increased 10% to an
| AVAILABLE INVENTORY
4,188
average of 54 days for the second quarter of 2019 (vs 2018). Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
DAVIDSON COUNTY | 3
Q2 2019 PRICE BREAKDOWN 2,541
2,000
1,000
879
| AVERAGE SALES TO LIST:
500
1%
416 400
2019 98% 2018 97%
300
200 167
182
100 2 0
0–350K
>350–500K
>500–750K
>750–1M
>1–3M
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
>3–5M
1 >5+M
DAVIDSON COUNTY | 4
| SOLD LISTINGS
Single Family
Condos &
| SALES PRICE BY PERCENT 4% <1% <1%
4%
2Q19
>5+
4,188
>3-5M
2Q18
3,881
2Q17
3,703
10%
>1-3M >750-1M
60%
21%
>500-750K >350-500K
0
500
1,000
1,500
| MEDIAN SALE PRICE
2,000
2,500
3,000
3,500
Single Family
Condos &
$305,000
2Q19
$305,000
2Q19
2Q18
2Q17
54
$297,000
2Q18
| AVERAGE DAYS ON MARKET Q2 2019
$297,000
$279,000
$279,000
2Q17
0
0-350K
4,000
10.2%
Q2 2018
0
$100,000 $100,000
$200,000 $200,000
$300,000 $300,000
Q2 Q2 RE REPPORT ORT 2019 2019 | | MI MIDDL DDLEE TTEENNNNEESS SSEEEE RE REGGIO IONN
$400,000 $400,000
49
DAVIDSON COUNTY | 5
MAURY COUNTY Q 2 2 01 9 DATA H I G H L I G H TS
The median sales price in Maury County for the second quarter of 2019 was $259,000, a 13.1% increase compared to the prior year. Sellers receive an average of 98% of their asking price.
The number of closed sales rose 10% with 627 sales compared to 570 sales the same period last year. Single family
homes spent an average of 57 days on the market, which is an increase from last yearâ&#x20AC;&#x2122;s 46 days.
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
| AVAILABLE INVENTORY
627 MAURY COUNTY | 6
Q2 2019 PRICE BREAKDOWN 500
528
400
| AVERAGE SALES TO LIST:
300
1%
200
100
84
2019 98% 2018 99%
50 12 10
0
1 0–350K
>350–500K
>500–750K
>750–1M
2 >1–3M
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
0
0
>3–5M
>5+M
MAURY COUNTY | 7
| SOLD LISTINGS
| SALES PRICE BY PERCENT
2Q19 2% <1% <1%
627
>5+
2Q18
570
>3-5M
13%
>1-3M
2Q17 >750-1M
560
>500-750K
84%
0
200
300
400
500
>350-500K
600
0-350K
| MEDIAN SALE PRICE 2Q19
$259,000
| AVERAGE DAYS ON MARKET Q2 2019
57
$229,000
2Q18
$207,000
2Q17
23.9%
Q2 2018
46 0
$100,000
$200,000
$300,000
Q2 Q2 RE REPPORT ORT 2019 2019 | | MI MIDDL DDLEE TTEENNNNEESS SSEEEE RE REGGIO IONN
$400,000
MAURY COUNTY | 8
RUTHERFORD COUNTY Q 2 2 01 9 DATA H I G H L I G H TS
As with most counties in Middle Tennessee, Rutherford County has seen an increase in inventory as well as median sales prices. The median price for a residential home was $269,000, up from last yearâ&#x20AC;&#x2122;s $250,000 by approximately 7%. During the second quarter of 2019, data showed that closing numbers were stable
when compared to closings during the second quarter of 2018. Average days on market increased by over 12% to an average of 44 days for the
| AVAILABLE INVENTORY
1,960
second quarter of 2019.
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
RUTHERFORD COUNTY | 9
Q2 2019 PRICE BREAKDOWN 2,000 1,571
| AVERAGE SALES TO LIST PRICE
1,000
500
No Change
400
2019 99% 2018 99%
336 300
200
100
0
44
0–350K
>350–500K
>500–750K
6
3
0
0
>750–1M
>1–3M
>3–5M
>5+M
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
RUTHERFORD COUNTY | 10
| SALES PRICE BY PERCENT
| SOLD LISTINGS
2%
<1% <1% >5+
2Q19
1,960
>3-5M
17% 2Q18
>1-3M
1,986
>750-1M >500-750K 2Q17
1,909
80%
>350-500K 0-350K
0
100
500
1,000
1,500
2,000
| MEDIAN SALE PRICE | AVERAGE DAYS ON MARKET $269,000
2Q19
Q2 2019
44
$250,000
2Q18
12.8%
Q2 2018
39
$228,000
2Q17
0
$100,000
$200,000
$300,000
RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N Q2 REP
$400,000
RUTHERFORD COUNTY | 11
SUMNER COUNTY Q 2 2 01 9 DATA H I G H L I G H TS
Sumner County has seen a steady increase in the median sales price for residential listings, as with all counties in the region. The median sales price increased nearly 2% in the second quarter of 2019 to $280,000. Inventory continues to grow with 1187 available homes during the second quarter.
The total number of second quarter 2019 Sumner County closings rose over 18% compared to the second quarter of 2018 (1187 in Q2
| AVAILABLE INVENTORY
1,187
2019 vs 1004 in Q2 2018).
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
SUMNER COUNTY | 12
Q2 2019 PRICE BREAKDOWN 2,000
1,000
821
| AVERAGE SALES TO LIST PRICE
500
No Change
400
2019 99% 2018 99%
300 258 200
90
100
0
0–350K
>350–500K
>500–750K
8
10
0
0
>750–1M
>1–3M
>3–5M
>5+M
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
SUMNER COUNTY | 13
| SOLD LISTINGS
SALES PRICE BY PERCENT 1%
1%
>5+ 2Q19
1,187
8%
>3-5M >1-3M
2Q18
1,004
22%
>750-1M >500-750K 1,192
2Q17
69%
>350-500K
0
250
500
750
1,000
0-350K
1,500
| MEDIAN SALE PRICE
| AVERAGE DAYS ON MARKET
$280,000
2Q19
Q2 2019
56
$275,000
2Q18
2Q17
Q2 2018
$264,000
0
$100,000
$200,000
$300,000
Q2 Q2 RE REPPORT ORT 2019 2019 | | MI MIDDL DDLEE TTEENNNNEESS SSEEEE RE REGGIO IONN
19.1%
47
$400,000
SUMNER COUNTY | 14
WILLIAMSON COUNTY Q 2 2 01 9 DATA H I G H L I G H TS
Williamson County has seen a steady rise in residential sales prices in the second quarter of 2019. The median price for a residential home was $518,000, which is a nearly 7% increase from $485,000 during the same period last year.
Data for the second quarter of 2019 showed 1,699 closings, a slight uptick from last yearâ&#x20AC;&#x2122;s 1,669.
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
| AVAILABLE INVENTORY
1,699 WILLIAMSON COUNTY | 15
Q2 2019 PRICE BREAKDOWN 540
500
465
400 333
| AVERAGE SALES TO LIST:
300
No Change
201
200
153
2019 98% 2018 98%
100
50
10
0
6 1 0–350K
>350–500K
>500–750K
>750–1M
>1–3M
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
>3–5M
>5+M
WILLIAMSON COUNTY | 16
| SOLD LISTINGS
| SALES PRICE BY PERCENT
2Q19
<1% <1%
1,699
>5+
9%
>3-5M
19% 2Q18
1,669
>1-3M
12%
>750-1M 2Q17
1,625
>500-750K
27%
32%
>350-500K 0
50
100
500
1,000
2,000
0-350K
| MEDIAN SALE PRICE
| AVERAGE DAYS ON MARKET
$518,000
2Q19
Q2 2019
59
$485,000
2Q18
$448,000
2Q17
0
$200,000
$400,000
$600,000
Q2 Q2 RE REPPORT ORT 2019 2019 | | MI MIDDL DDLEE TTEENNNNEESS SSEEEE RE REGGIO IONN
Q2 2018
$800,000
13.5%
52
WILLIAMSON COUNTY | 17
WILSON COUNTY Q 2 2 01 9 DATA H I G H L I G H TS
The median sales price in Wilson County for the second quarter of 2019 was $326,000, a nearly 4% increase compared to the prior year. Sellers received an average of 98% of their asking price, slightly down from last year’s 99%. The number of closed sales increased over 8.6% with 915 sales compared to 842
sales for the same period last year. Residential homes spent an average of 51 days on the market, which is an increase from last year’s 47 days.
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
| AVAILABLE INVENTORY
915 WILSON COUNTY | 18
Q2 2019 PRICE BREAKDOWN 527 500
400 307
| AVERAGE SALES TO LIST:
300
1%
200
100
67
2019 98% 2018 99%
50
8
10
0
0–350K
>350–500K
>500–750K
>750–1M
6
>1–3M
Q2 RE P ORT 2019 | MI DDL E T E N N E SS E E RE G IO N
0
0
>3–5M
>5+M
WILSON COUNTY | 19
| SOLD LISTINGS
SALES PRICE BY PERCENT <1% <1%
2Q19
915
>5+
7%
>3-5M >1-3M
842
2Q18
>750-1M
34% >500-750K
58% 2Q17
>350-500K
879
0-350K
0
500
600
700
800
900
| MEDIAN SALE PRICE | AVERAGE DAYS ON MARKET $326,000
2Q19
Q2 2019
51
$314,000
2Q18
Q2 2018
$294,000
2Q17
0
$200,000
$400,000
8.5%
47 $600,000
Q2 Q2 RE REPPORT ORT 2019 2019 | | MI MIDDL DDLEE TTEENNNNEESS SSEEEE RE REGGIO IONN
$800,000
WILSON COUNTY | 20
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