2009: Smyrna Home Sales

First, welcome 2010! As the real estate agent who occasionally writes for this wonderful Smyrna site, I felt it important to provide an overview of the city's housing market from 2009. First some disclosures: these only include residential listings - not condos or land - unless the listing agent categorized the condo or land under residential in our local MLS. Also, I am not an economist... these are numbers I pulled from the search criteria available to me. I didn't "drill down" a lot (for example, I can't tell you that $200,000 sales were down 32 percent or up four point oh eight percent), but if you have specific questions let me know and I can try to find the answers for you.

Overall Smyrna's housing market was surprisingly healthy in 2009. Yes, it was down in the number of homes sold in a five year period, but the drop between 2008 and 2009 nearly leveled off as compared to between 2007 and 2008.



The value of homes remains fairly strong, especially when compared to neighboring LaVergne. This graph shows the total number of homes in a three year period that sold for under $125,000.



Now let's look at the number of homes that sold, by city and by price.



Clearly LaVergne sells many more homes that we can call "affordable" (they cost less) while people pay more in Smyrna. And for you who want more details than just statistics, here's where we are as of today.

HOMES CURRENTLY FOR SALE – 305

Less than $150,000
Total now for sale – 120
Average days on the market – 101
Longest days on the market – 369 (three new construction homes)
Least Expensive: $69,000 in Sagefield subdivision, 950 square feet, 2 bedrooms, 1 bath

$150,001 or Greater
Total now for sale – 185
Average days on the market – 114
Longest days on the market – 625
Most Expensive: $1.5 million 5 acre property with 2008 square foot house, 3 bedrooms, 2 baths. Priced because it backs to Sam Ridley Parkway, so potential commercial. (This is the home with the longest days on the market)

HOMES CURRENTLY FOR SALE, but under contract and PENDING – 35

Average Price – $180,463
Average days on the market – 58
Least Expensive – $49,900 (8 days on the market)
Most Expensive – $349,900 (170 days on the market)

HOMES CLOSED IN 2009 – 511

Up to $100,000 – 60 closed
Least expensive – $8,500 condemned home on Church Street sold as-is; $39,417 on Enon Springs with 1057 square feet, 2 bedrooms, 1 bath; and $50,000 on Enon Springs Road with 1010 square feet, 2 bedrooms, 1 bath.

$100,001 – $125,000 – 95 closed

$125,001 – $150,000 – 121 closed

$150,001 – $200,000 – 160 closed

$200,001 and up – 124 closed
Most expensive Smyrna home sold in 2009: $740,000 in Hidden Valley Farms, 5065 square feet, 4 bedrooms, 3 full, 2 half baths, 78 days on the market.

Expired Listings in 2009 – 308
Withdrawn Listings in 2009 – 396
NOTE: These numbers simply indicate when a listing was either withdrawn (and perhaps re-listed) by owner or it expired (and could also have been listed again).

AND THE UGLY

Current homes listed that are “Distress Sales” – 38
Pending homes in distress – 6
Homes that closed in 2009 as a “Distress Sale” – 150

How do I define a distress sale? A home that has been foreclosed and listed by the VA or HUD or is indicated as bank-owned. In addition, homes that are listed as a short-sale, foreclosure sale, or if it says in the remarks words to the effect of a bank or third-party approval required.

Average price of distress sales: $144,796
Average days on market for distress sales: 106
Number of distress sales for homes valued at more than $175,000: 10

Those are the numbers!! If you have any questions about real estate in middle Tennessee, please feel welcome to contact me. I can be reached by phone (615) 491-2161, office (615) 459-4040, or email kathy at bobparks dot com.