Nesting In Nashville Real Estate Blog

Nashville, TN Real Estate: Statistics for ‘days on market’ and ‘list price to sales price’ ratios.

Thinking of trying to sell your Nashville, TN – Davidson county home? The outlook isn’t as gloomy as some in the media might have led you to believe. The following graphs chart the “Days on Market” as well as “List/Sale Price Ratios” for single family homes in Davidson county priced under 1M for the last 15 months. These stats only take into account existing or resale properties. New construction pricing /timelines are excluded.

Conclusion:  Average days on the market have only climbed about a week since the height of 2008. Final sales price is also pretty consistant at about 96% of list price. It is important to remember that this chart doesn’t take into consideration whether or not the seller contributed toward paying some or all of the buyers closing costs. It is not uncommon for buyers to ask sellers to pay up to 3% on the sales price toward their closing costs -  especially in the 100k to 300k price ranges.

You should also consider that that the chart above shows sellers netting an average of 96% of the FINAL list price on a property. Let’s now have a look at List/Sale ratio from the ORIGINAL list price.

Ah Ha!  There’s the difference! Last summer sellers were netting about 94% of their ORIGNAL list price. Sellers now are netting about 90%. This is why it is so important to set a realistic sales price  on your home right out of the gate. Homes typically garner more attention and higher sales prices in the first 30 days on the market. Think about it – would you pay full price for a home that has been listed for 120 days?

If you like these stats, you’d be amazed at what else we can show you. Our TrendGraphix software can analyze zip codes, neighborhoods and absorption rates for your home in middle Tennessee. We utilize maps, “Zestimates”, tax appraisals, micro and macro studies to arrive at precise, analytical values. And don’t forget the marketing! Professional photography, personalized websites, and online listing syndication are part of EVERY listing package. Call us today at 615.554.3745 to schedule your in-home presentation.

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