Real Estate Update, YTD & 2010 Review

After this week, I will be losing my access to the drill-down real estate data as I am moving my license from Active status to “referral only” (at least until my current listings and contracts close).  I’m hoping to help Ivy recruit another real estate expert to write here … I know we have several amazing agents living right here in LaV — Robert Carroll, Lisa Morrow, Biane McGee come immediately to mind! Housing statistics really are wildly important for the city … we want people to know we have some wonderful, affordable homes available!

So statistics… here we go.

YTD Current Properties Listed in MLS

Single Family Homes:  286
Current Houses Pending (aka almost ready to close):  25

Lowest Price:  $18,900 on Sand Hill Road. Let’s be realistic – this is a tear-down and the price is the value of the land.
Next Lowest Price: $29,900 in Plantation Village.  Mobile home on permanent foundation. Foreclosure.
Note: LaVergne actually has some houses that are quite nice now available. Elbow grease (new paint, good scrubbing with bleach and pine cleaner) and possible new carpet and appliances will transform these into real beauties.
Highest Price: $479,900 at The Woods at Martins Bend. Four bedrooms, four and a half baths, 4298 sq ft.

Condominium Homes: 21
Current Condos Pending (aka almost ready to close):  3

Lowest Price: $49,000 HUD-home in The Cottages of Lake. Two bedrooms, two and a half baths, 1041 sq ft.  Appears to be in good shape, but $500 needed for repairs.
Highest Price:  $122,000 home in Villas of Central Park. Two bedrooms, two and a half baths, 1356 sq ft.

Single Family Closed (so far) in 2011:   17
Single Family Closed (same time frame) in 2010:  20
Condos closed (so far) in 2011:  4
Condos closed (same time frame) in 2010:  4

2010 Review

Single Family Homes closed in 2010:  434
Single Family Homes closed in 2009:  517
That’s about a 17 percent (ish) drop in the number of sales.

Least Expensive in 2010:   $19,900.  Mobile home in Driftwood Village.
Total number of homes that sold for $100,000 or less:  167

Most Expensive in 2010:  $388,700 in McFarlin Point. Four bedrooms, three and a half baths, 4011 square feet, all brick.  Jaw dropping beautiful.
Total number of homes that sold for more than $200,000:  30
Top Listing Company:  Coldwell Banker Barnes (agent from company is working with a builder.)

Condos closed in 2010:  35
Least Expensive: $54,900  Two bedroom, two and a a half bath Fannie Mae home (which means they come in a re-do prior to selling. Great buy for someone!
Most Expensive:  $104,000 End unit two bedrooms, two and a half baths at the Villas of Central Park.
Top Listing Company:  HUD homes (ouch)

MLS Statistics for 2010

Hmmm… let me figure out how to present this information since I’m unable to simply cut & paste the table.  There are two “areas” of LaVergne on the MLS.  Area 31 is “East LaVergne” and includes the following subdivisions (among others): Ridgemont, Lake Forest, Heritage Valley, etc.  Area 32 is “West LaVergne” and includes neighborhoods like Farmingdale, Dove Creek, Greenwood, Chelsea Estates.  To visualize, it’s almost like the dividing line is Murfreesboro Road.

*Median – A median price is the number that is exactly in the middle of a list of numbers.  For example if we have a list of numbers:   1, 2, 3, 4, 5, 6, 7  THEN 4 would be the median price.  it’s just “the one in the middle” of everything else.

Active Listings

Area 31
Average Per Day:   173
Average List Price: $131,891
Median List Price: $124,900

Area 32
Average Per Day:  121
Average List Price:  $170,349
Median List Price:  $146,900

Total Average Per Day: 294
Both Areas Average:  $147,719

New Listings

Area 31
Total Count:  652
Average List Price:  $125,828
Median List Price:  $115,900

Area 32
Total Count:  390
Average List Price:  $156,252
Median List Price:  $137,800

Total Count:  1,042
Average List Price of New Listings: $137,215

Pended Listings

Area 31
Count: 316
Average List Price:  $110,589
Median List Price:  $109,000

Area 32
Count: 175
Average List Price:  $138,415
Median List Price:  $121,900

Total Count:  491
Average List Price of Pended Listings: $120,507

Closed Listings
(Here’s where it gets interesting)

Area 31
Count: 275
Average List Price:  $108,142
Percent Closed Price v. List Price: 97.200%
Average Days on the Market:  74
Median Closed Price: $105,125
Median Days on the Market:  58

Area 32
Count: 151
Average List Price:  $136,799
Percent Closed Price v. List Price: 96.400%
Average Days on the Market:  97
Median Closed Price: $119,950
Median Days on the Market:  72

Total Count:  426
Average Closed Price: $118,300
Percent Closed Price v. List Price: 96.8%
Average Days on the Market:  86

Why in the world would the new listing numbers be so much higher than the active, pending, and closed?  This occurs when a listing is withdrawn or expires… and then relisted.  One agent in our area (no names mentioned) is notorious for listing homes for 30 days only because it appears the listing is new and fresh.  This actually skews the data for everyone else, but makes that agent look good. When you do look at listings online, though, an agent can show you the actual MLS history of a house and it will show how many times a home has expired or been withdrawn.

Finally,

My listing on Bill Stewart Blvd. has been transferred to my colleague Teresa Phelan for $124,900.  It has over 1700 square feet… a very nice house!  You can reach Teresa at my (old) office number 459-4040.

So that’s it from me on real estate.  My MLS access will end at the end of the week, so if you have any questions for me … this is the time to ask.  Otherwise I can refer you to another trusted, smart Realtor.

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