Grassland Monthly Real Estate Recap: June 2020

July 8, 2020

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Wowzers. June came and went – and just like that, here I am with balloons in hand and back-to-back-to-back closings lined up throughout the month of July! 
I know I’m not alone when I say it’s been a CRAZY month. (Shoot, it’s been a crazy year.) And the truth is, despite the ups-and-downs of 2020, Real Estate is still moving in Grassland. But it’s not all roses as we climb back to the level of home sales as this time last year.

2019 vs. 2020

Everything looks different with a dose of perspective, right? I always find it fascinating to see where we’ve been as it sometimes provides insight to where we’re going. So let’s compare our Grassland sales stats year-over-year:

June 2020:

  • 37 homes closed
  • Median Sales Price: $535,000
  • Median Days on Market: 9
  • Median List Price to Sales Price Ratio: 98.61%
  • Median Square Feet: 3,299
  • Median Sales Price per Square Feet: $207

June 2019:

  • 67 homes closed (45% higher than June 2020)
  • Median Sales Price: $650,000
  • Median Days on Market: 6
  • Median List Price to Sales Price Ratio: 99.3% (this reflects how close homes are selling to their list/asking price.)
  • Median Square Feet: 3,659
  • Median Sales Price per Square Feet: $195

Note: A home’s Price per Square Foot has a lot of factors that go into it, and should not be considered an authoritative number for pricing your own home. I’d be happy to give you a more personal assessment of your home.

Looking at this data, we are down in every category year over year, except for Sales Price Per Square Feet. But an interesting thing to note is we’re closing the gap month-to-month. In May 2020, we were trailing behind May 2019 home closings by 48%. So in just one month, Grassland is tracking about 3% better on sales rate. And wait till you see the Williamson County-wide numbers.

According to Freddie Mac’s nationwide statistics: “It took more than 10 years for purchase demand to rebound to pre-recession levels. In this crisis, it’s taking less than 10 weeks.” This is largely due to continued demand vs. supply combined with crazy low interest rates.

Neighborhood by Neighborhood

Grassland’s neighborhoods are each so unique and see their own ups and downs in pricing throughout the year.

Let’s break down home value changes in some of our neighborhoods that saw home sales during June. These percentages reflect median sales price growth for homes closed during the first six months of 2020 versus the first six months of 2019:

The remaining Grassland homes sold in June were not in neighborhoods, carried considerably more acreage and range in price from $775,000 – $1,750,000.

The Bigger Picture

Williamson County has just released its county-wide stats, which tell a very similar story – but in much bigger numbers.

They’re reporting 557 residential closings in June 2020, which is a 28% jump from May 2020! Between homes and condos, the number of June sales is only 2% lower than June 2019!

At the same time, there’s been a 1% jump in median sales prices from June 2019 to June 2020, with Williamson County now hovering close to $550,000.

It’s also worth noting the Days on Market for residential homes sits around 26, which is a bit less than a month’s supply of inventory. Remember, Grassland’s median days on market is 9, which indicates it’s still a STRONG SELLERS MARKET here. (6 months supply is considered even.)

On the nationwide scale, Zillow reports “homes are flying off the market at the quickest pace in two years.” Homes sold nationwide in the second week of June were on the market about 22 days which is the lowest number since June 2018.

The Takeaway

Though the numbers haven’t quite made a full rebound here in Grassland, or anywhere else across the country, it’s promising to see the upward trend. And I expect it will continue. I suspect one of the reasons our numbers lag in particular here is because we don’t have as many Sellers hitting the market as in years past, but confidence is starting to increase.

This is a very good thing for those who are hitting the market here right now. They have less competition and as you’ve seen by the numbers above, our values are holding strong — even growing.

In the spirit of keeping the momentum, I’m going to take these balloons and hand them off to my clients at the closing table! 13 closings for my business partner and I this month and we’re not even halfway through July. It has been such an honor to help so many of our friends and neighbors buy and sell homes during the scariest period in our lifetime, getting asking price and above-asking for most of them! Now THAT is a something to celebrate.

If you need to sell your home and want honest advice, please call, email or text me! I provide a free consultation to see what your home could sell for – or to get you pre-approved to buy. I’m a Grassland area resident and I’m a Platinum Award-winning Williamson County REALTOR® ranking in the top 2%. My business has been featured on TV and our success is the topic of an article in the July edition of Nashville Real Producers magazine. But most importantly, I specialize in helping my friends and neighbors buy and sell homes!