Brentwood Home Page staff reports
Brentwood’s housing market ended the year on a very positive note, with positive numbers in the two categories which matter most – the number of home sales that closed and the median sale prices.
A total of 59 homes were sold, a 3.4 percent increase over December 2010. The median price was $560,240, a 4.7 percent increase over the previous year. While the average price dropped 7.9 percent to $585,692, that can be attributed to the fact that only three homes sold for over $1 million – a 50 percent decrease from last December.
“An interesting observation, if you eliminate all sales sold over $1,000,000 in 2010 and 2011, the average sales price for 2010 is $509,861, a significant 6.9% increase for 2011 versus a 7.9% 2011 decrease if all sales are included perhaps demonstrating the market below $1 million is strengthening,” explained Realtor Amy B. Wyatt, who provides Brentwood Home Page with its monthly home sale statistics.
In other indicators, the days on market increased from 98 a year ago to 104; and the average price per square foot dropped 5.8 percent, from $145.23 in 2010 to $136.84 last month.
Williamson County had a total 265 single family residential closings in December and a median price was $365,900. "We are excited to see home prices holding strong during the last part of 2011. With more homes sold in 2011 than in 2010, we are poised for a positive progression of the market into 2012," Tiffany Chauvront of the Williamson County Association of Realtors.
And regionally, the Greater Nashville Association of Realtors on Tuesday reported there were 1,773 closings during the month of December. This is an 18.2 percent increase from the 1,500 closings reported for the same period in 2010.
“2011 was a very important year for home sales. It is the first year since 2006 that there was an increase over the number of closings in the prior year. While the increase is small, it is a very encouraging sign," said GNAR President Kendra Cooke. "The year-over-year increase is most significant because in 2011 there were no stimulus or tax-credit incentives like those available in 2010.
“The double-digit increase for closings in December marks the sixth consecutive month of increased home sales, so the fourth quarter numbers are also up significantly."
Back in Brentwood, Wyatt said, “We look for the spring to continue the trend for prices and sales to stabilize and perhaps increase in some areas.” To those considering putting their home on the market, she added, “Condition and updating are as important as location in terms of a quicker sale and higher price.”
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