LCT Team - Quarter 2 Report

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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