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Mt. Juliet Home Sales Report 1st. Quarter 2012: Home Sales Gains as Prices Slip

by Jim Wood in Mt. Juliet Neighborhoods, Newsletters | Comments Off

Mt. Juliet Posts Home sales Gains as Prices Slip

2012 has started off well for Mt. Juliet Home Sellers, home sales in the Jan.-Mar period moved from 172 homes sales in 2011 to 192 homes in 2012.  A gain of 11%.

However, despite those sales gains , the numbers indicate Wilson County homes may be losing some of their value.

Mt. Juliet Home sales First Qtr. 2011

 

Mt. Juliet Home sales First Qtr. 2012

Inside the numbers; 
1. As the chart above shows, the price per sq.ft. is dropping, Buyers in 2011 paid $105 per sq.ft. for a home in Mt. Juliet .
This year Mt. Juliet Home Buyers are paying $97 per sq.ft.  That’s an 8% drop in price Year-Over-Year (Y-O-Y).
2. Days on Market or DOM( the time from Listing to Sold), is increasing.  The average Mt. Juliet Home sold in about 65 days in 2011. In 2012 the average  DOM has increased to 84 days, an increase of 23%!
3. There are currently 466 properties on the market in Mt. Juliet.  At our current Rate of Absorption (ROA) of 64 homes selling each month it will take over 7 months to sell that many homes. Anything over 6 months is a Buyer’s Market.
Available homes in Mt. Juliet April 2012