MLS Activity 5

YOUR HEALTH AND WELL-BEING MATTER TO US Keeping our clients and agents safe is our number one priority.

As we continue to do all we can to keep everyone safe, these best practices are recommended when veiwing a property:

1

2 We will meet you there.

Agents and clients will drive separately to view properties.

3

Please wash your hands before and after leaving, and wipe any handles upon leaving the home.

4 Please leave the lights as you found them.

5

Remember the 6-foot rule and have any follow-up discussions outside.

6 Please take any dirty wipes, trash, and gloves with you when you leave.

138 3RD AVENUE NORTH FRANKLIN TENNESSEE 37064 615 790 3400

Video tours are also available in lieu of in-person tours.

2206 21ST AVENUE SOUTH NASHVILLE TENNESSEE 37212 615 383 6964 VILLAGEREALESTATE.COM

615 WOODLAND STREET NASHVILLE TENNESSEE 37206 615 369 3278

DAVIDSON CO

Current Market Activity (Spring 2020)

It is still too early to tell the long term impact of COVID19 on the real estate market. In the short term, it is possible to follow market activity to gauge the state of the market. The top table on the following page looks at the MLS activity in Davidson County the past two weeks compared to the activity in early March. The graphs on the following pages look at these activities in more detail. The second table on the next page displays the number of closings and home values this year compared to 2019. While it is clear some activities have slowed down, the market has not come to a stop. Transactions continue to occur under new social distancing guidelines and with the assistance of technology.

Erin Simpson 615-714-8937 erin.simpson@gmail.com Š2020 Erin Simpson Properties. All rights reserved. Information in this report believed to be accurate but not guaranteed. The data relating to real estate for sale comes in part from the Internet Data Exchange Program of RealTracs Solutions.

DAVIDSON CO

Current Market Activity (Spring 2020) MLS Activity in Davidson Co. since March 1, 2020 3/4/20 - 3/17/20

4/29/20 - 5/12/20

Percent Change

New Listings

749

884

18.0%

Back to Active

173

193

11.6%

Under Contract - Showing

431

398

-7.7%

Under Contract - Not Showing

423

443

4.7%

Price Change

295

423

43.4%

Closed

505

542

7.3%

96

161

67.7%

Withdrawn Listings

MLS Activity in Davidson Co. March/April 2020 vs. 2019 3/1/19 - 5/12/19

3/1/20 - 5/12/20

Percent Change

3654

3529

-3.4%

Average Sales Price

$395,687

$430,332

8.8%

Median Sales Price

$315,000

$338,000

7.3%

Average Sales Price/Sq Ft

$187

$201

7.5%

Median Sales Price/Sq Ft

$175

$188

7.4%

Closings

Š2020 Erin Simpson Properties. All rights reserved. Information in this report believed to be accurate but not guaranteed. The data relating to real estate for sale comes in part from the Internet Data Exchange Program of RealTracs Solutions.

DAVIDSON CO

Current Market Activity 7 Day Averages for New Listings and New Contracts since March 1, 2020 80 Safety at Home

Begins 64

48

32

16

0 5/ 15

12

9

5/

5/

6

3

30

27

24

21

18

15

5/

5/

4/

4/

4/

4/

4/

4/

12

9

4/

4/

6

3

31

28

25

22

19

16

4/

4/

3/

3/

3/

3/

3/

3/

13

7

3/

3/

4

10

3/

1

3/

3/

NEW CONTRACTS

NEW LISTINGS

This chart looks at the number of new listings hitting the market and the number of listings going under contract. There is no way to tell how the real estate market will respond to COVID19, but as this graph shows, buyers are still active and making oers on properties. And sellers are still listing properties with the assistance of technology including virtual tours and walkthroughs.

DAVIDSON CO

Current Market Activity Total Showings by Week 2500 Safety at Home

Begins

2200

1900

1600

1300

1000 5/

4/

4/

4/

4/

4/

3/

3/

3/

3/

5

The amount of showings has decreased since the beginning of March.

While there are still showings, buyers who are looking right now are strong buyers who are very motivated. There has also been an increase in visual media used by agents to market the property. To reduce traďŹƒc at listings, virtual tours are being used to show the property to potential buyers.

2

/5

8

/2

1

/2

/1

-5

-4

-5

29

22

-4

4

/1

-4

1

/3

4

/2

7

/1

/7

-3

-3

-4

15

8

1

25

18

-3

0

/1

-3

11

4

SHOWINGS

DAVIDSON CO

Current Market Activity New Contracts and Closings by Week 800 Safety at Home

Begins

600

400

200

0 4/

4/

4/

3/

3/

29 -5

-4

The graph above shows Contracts and Closed Listings by week since the beginning of March. We can see that there are fewer contracts and closings since the beginning of March. Contracts have been rebounding in April. The decline of closings in April reflects the decrease in contracts in March as closings typically lag 30 days behind contracts.

2

8

CLOSINGS

/1

/2

4

1

/3

/1

-4

15

1

-3

7

/1

-3

18

4

NEW CONTRACTS

DAVIDSON CO

Current Market Activity Total Price Changes and Total Withdrawn Listings 500 Safety at Home

Begins

400

300

200

100

0 29 -5

-4

BACK TO ACTIVES

This graph shows the number of Price Changes and Withdraws from MLS. There was a big jump in both Price Changes and Withdraws as Safety at Home was put into place. There was also a jump in listings going Back to Active as Buyers terminated pending contracts.

2

/1

8

/2

4

1

/3

/1

-4

15

1

-3

7

/1

-3

18

4

WITHDRAWN LISTINGS

4/

4/

4/

3/

3/

PRICE CHANGES

Erin Simpson 615-714-8937 erin.simpson@gmail.com

Erin Simpson erin.simpson@gmail.com erinsimpsonproperties.com 615-714-8937

2814 12th Avenue South Nashville, TN 37204