GREEN HILLS
12 Month Market Review
INGLEWOOD
CLEVELAND PARK MAXWELL HEIGHTS
GERMANTOWN
LOCKELAND EAST END SPRINGS
HOPE GARDENS FISK
EASTWOOD NEIGHBORS
EDGEFIELD
DOWNTOWN
THE NATIONS 40
THE GULCH
SYLVAN SYLVAN
 HEIGHTS PARK RICHLAND
VANDERBILT
HILLSBOROWEST END
WHITLAND
EDGEHILL
BELMONTHILLSBORO
24
BNA
WEDGEWOOD HOUSTON
12SOUTH WOODBINE
GREEN HILLS 65
BELLE MEADE
FOREST HILLS
OAK HILL
Erin Simpson
OAK HILL ERIN.SIMPSON@GMAIL.COM ERINSIMPSONPROPERTIES.COM 615.714.8937
CRIEVE HALL
VILLAGE 2206 21ST AVENUE SOUTH NASHVILLE, TENNESSEE 37212 615.383.6964
STATISTICS DEFINITIONS Total For Sale
The total number of properties marked as For Sale, or Active, on the MLS within the search parameters.
Total Pending
A Pending status references a property with an Agreement to Purchase where the parties are waiting to Close the transaction and transfer the deed. This is a time when inspection and financing contingencies are being resolved. The MLS has various stages of Pending, but for simplicity, all stages are combined into one on this report.
Total Closed
A Closing occurs when the Buyer pays the full agreed upon purchase price to the Seller and the deed transfers from the Seller's name and is recorded with the Buyer's name.
Total Not Sold
This covers MLS property listings that have passed their listing expiration date without selling, or that were manually withdrawn from the MLS (either for lack of offers, a change in the seller's plans, or the desire for a short break prior to re-listing with a fresh marketing campaign, new price, etc.). These properties are sometimes re-listed and may eventually sell, but since they did not sell in this listing cycle, they are marked Not Sold.
Days on Market The Days on Market statistic references the time that a property was listed in the MLS before the listing broker updated the MLS to state that all contingencies were removed.
OLP/SP % Ratio This is the ratio of the sales price compared to the original list price when the property first listed under this MLS #. If the sold property began at $300K, dropped to $275K, and sold for $260K, then the OLP/SP % would be $260K รท $300K = 86.7%.
Monthly Abosorption
This refers to total number of comparable properites that the market study area absorbed, or purchased, in the timeframe referenced, averaged out by month. Example: If 12 properties in a neighborhood sold over the last 6 months, that would mean an absoprtion rate of 2 properties per month.
Months of Supply
This refers to total number of comparable For Sale properites (competition to your listing) divided by the Monthly Absorption Rate. If history is an indicator of future performance, then this can be used to predict how long it will take for all existing comparable inventory to sell, assuming no additional new listings are listed on the MLS. Example: 6 properties For Sale in a neighborhood that has a Monthly Absorption Rate of 2 per month would mean a 3 month supply of homes. Economists generally consider a 6 month supply to be a balanced market.
Sold PPSF
PPSF stands for Price Per Square Foot and includes only heated square footage in a home (not garages, porches, unfinished basements, etc). A 1000sf home selling for $200,000 would have a PPSF of $200/square foot. This is a rudimentary way to compare different sized properties at a glance. The formula is Sale Price รท Square Footage = PPSF. Detached homes are typically measured from the exterior and condominiums or attached homes are measured from the outermost interior walls.
Odds of Selling The Odds of Selling % is derived from looking at what buyers in the market
have chosen to purchase (Closed sales and Pending sales, which can be Erinexpected Simpsonto close soon) divided by the total market activity (both what has sold or will sell - Pending and Closed Sales, as well as what has not yet erin.simpson@gmail.com 12th Avenue sold or never sold - Total For Sale and Total Not Sold). 2814 If a property has South erinsimpsonproperties.com Nashville, TNif37204 come on and off the market several times in the timeframe studied, even 615-714-8937 it eventually sells, it will lower the Odds of Selling %. The formula is calculated as the "Total Sold & Pending Units" รท "Total Sold, Pending, For Sale, and Not Sold Units" = Odds of Selling %.
GREEN HILLS
Enclosed is an annual Real Estate Review to give you an overview of the real estate market activity in your neighborhood during the last 12 months. I provide this as a service to past homebuyers on the anniversary of when they purchased their home. Should you have any questions about the following, don't hesitate to let me know and we can talk by phone or meet in person:
• The data and graphs contained in this report
• A specific valuation of your home should you be interested in selling it in today's market
• Our opinion of where the market is heading in the next 12 months A Quick Look at homes in your neighborhood as referenced on the following pages: Total for Sale
66
Average SP/OLP %
97%
Total Pending
23
Monthly Absorption
29.4
Total Sold
Total Unsold
Avg Days on Market
353
86
39
Months of Supply
Avg Sold PPSF
Odds of Selling
2.2
$270
71%
If there are any other areas where I can be of assistance, from home improvement or repair vendor recommendations, to refinancing or selling, please do not hesitate to call anytime. Or if you would like to see a market report for another neighborhood, let me know.
Sincerely,
Erin Simpson
Village
PS - Please let me know if you have any friends or neighbors who could use our expertise. I am always appreciative of your referrals!
GREEN HILLS
12 Month Market Activity
Unsold 16%
Active 13% Under Contact 4%
528 Homes Listed in the last 12 months Sold 67%
GREEN HILLS
Current Market Activity Status of Homes Listed in the Past 12 Months by Price Point Price Range
ACTIVE
PENDING
SOLD
UNSOLD
$300k - $400k
0
1
7
1
$400k - $500k
0
1
13
3
$500k - $600k
1
2
22
5
$600k - $700k
2
3
44
7
$700k - $800k
5
4
57
5
$800k - $900k
2
3
43
5
$900k - $1000k
11
3
23
12
$1000k - $1100k
7
1
20
6
$1100k - $1200k
6
0
25
9
$1200k - $1300k
7
0
14
4
$1300k - $1400k
5
0
19
6
$1400k - $1500k
3
0
15
0
$1500k - $1600k
0
1
9
3
$1600k - $1700k
5
1
7
1
$1700k - $1800k
5
1
4
3
$1800k - $1900k
2
0
4
1
$1900k - $2000k
2
0
5
0
$2000k - $2100k
0
0
2
2
$2100k - $2200k
1
1
2
3
$2200k - $2300k
1
0
8
1
$2300k - $2400k
0
0
2
2
$2400k - $2500k
0
0
2
1
$2500k - $2600k
1
0
2
0
1
1
$2600k - $2700k
PENDING
SOLD
This graph shows which price ranges buyers are choosing (demand).
$2600k - $2700k
$2500k - $2600k
$2400k - $2500k
$2300k - $2400k
$2200k - $2300k
$2100k - $2200k
$2000k - $2100k
$1900k - $2000k
$1800k - $1900k
$1700k - $1800k
$1600k - $1700k
$1500k - $1600k
$1400k - $1500k
$1300k - $1400k
$1200k - $1300k
$1100k - $1200k
$1000k - $1100k
$900k - $1000k
$800k - $900k
$700k - $800k
$600k - $700k
$500k - $600k
$400k - $500k
$300k - $400k
GREEN HILLS
Current Market Activity Activity by Price Range: Pending + Sold Listings (Demand)
80
70
60
50
40
30
20
10
0
0
ACTIVE (Current Supply) Untitled 1
$2500k - $2600k
$2400k - $2500k
$2300k - $2400k
$2200k - $2300k
$2100k - $2200k
$2000k - $2100k
$1900k - $2000k
$1800k - $1900k
$1700k - $1800k
$1600k - $1700k
$1500k - $1600k
$1400k - $1500k
$1300k - $1400k
$1200k - $1300k
$1100k - $1200k
$1000k - $1100k
$900k - $1000k
$800k - $900k
$700k - $800k
$600k - $700k
$500k - $600k
$400k - $500k
15
$300k - $400k
GREEN HILLS
Current Market Activity Active (Supply) vs Pending (Demand)
11
8
4
PENDING (Current Demand)
This shows which price ranges buyers are choosing (demand) compared to the price ranges of available choices (supply).
GREEN HILLS
Neighborhood Market Trends Months of Supply 12
10
8
Buyer’s Market Seller’s Market
6
4
0
12/17 1/18 2/18 3/18 4/18 5/18 6/18 7/18 8/18 9/18 10/18 11/18 12/18 1/19 2/19 3/19 4/19 5/19 6/19 7/19 8/19 9/19 10/19 11/19 12/19 1/20 2/20 3/20
2
NEIGHBORHOOD MONTHS OF SUPPLY
DAVIDSON COUNTY
Months of Supply is a tool used to predict how long it will take for all existing inventory to sell, assuming no additional new listings are listed on the MLS. Economist generally consider a 6 month supply to be a balanced market. We have been experiencing years of low inventory creating a strong Seller’s Market.
GREEN HILLS
Neighborhood Market Trends New Listings & Closings by Month 100
80
60
40
20
CLOSINGS
NEW LISTINGS
View which months are the most popular for new listings and closings.
December
November
October
September
August
July
June
May
April
March
February
January
0
GREEN HILLS
Neighborhood Market Trends Distribution of Sales by Sold Price Per Square Foot 150
120
90
60
30
+ 50 $4
49 $4
00
-$ 4
99 $3
50
-$ 3
49 $3
00
-$ 3
99 $2
50
-$ 2 00 $2
-$ 2
49
9 19 -$ 50 $1
$1
00
-$
14
9
0
PROPERTIES SOLD LAST 12 MONTHS
This graph shows the distribution of sales based sales price per square foot.
GREEN HILLS
Neighborhood Market Trends 150
Sold Price Per Square Foot vs. Total Living Area
$45
112.5
$36
$342 $311
$303
$291 $272
$268
75
$297
$27
$250
$241
$18
37.5
PROPERTIES SOLD
00 8,
00
0
-7
,9
0+
99
9 7,
6,
00
0-
6, 99
9 0-
5,
00
4, 99 000 4,
5, 99
9
9
3, 00
03,
99
9 2, 99 000
2,
1, 99 000 1,
1
-9
99
sq f
9
t
0
AVERAGE PRICE/SQUARE FOOT
This graph shows the distribution of sales based on total living area square footage. It also shows if there is a correlation in sales price/per square foot and the size of the property. The trend use to be the smaller the property the higher the sales price/square foot. As we see more high end renovations and new builds, the price per square foot is leveling out across every size of home in a neighborhood.
GREEN HILLS
Neighborhood Market Trends 200
Distribution of Sales by Number of Bedrooms
$1,6
$1,474,658 $1,343,750
$1,2
150
$1,004,805
100
$8
$689,701
$436,500
$4
50
0
2 Bedrooms
3 Bedrooms
PROPERTIES SOLD
4 Bedrooms
5 Bedrooms
6 Bedrooms
AVERAGE PRICE/SQUARE FOOT
This graph shows the distribution of sales based on the number of bedrooms. It also shows if there is a correlation in sales price and the amount of bedrooms regardless of square footage.
GREEN HILLS
Neighborhood Market Trends Sold Price Per Square Foot vs. Property Type
$340
250
200
$293
150
$263 $254 $245
$245
$229 100
$198
50
0
Single Family
HPR Detached
PROPERTIES SOLD
HPR Attached
Zero Lot Line
AVERAGE SALES PRICE/SQUARE FOOT
This graph shows the distribution of sales based on property type. It also shows if there is a correlation in sales price/per square foot and the type of the property. The 3 dierent property types are Single Family homes, HPR detached, and HPR attached. Horizontal Property Regime (HPR) applies to properties where there are more than one home on one parcel of land. In this neighborhood Single Family homes are selling at a higher price per square foot than HPRs.
GREEN HILLS
1Q 2020 Residential Sales
Number of Sales
Avg Sales Price
Avg Sales Price/Sq Ft
107
$1,078,000
$283
1Q 2020
1Q 2020
1Q 2020
84
$998,000
$255
1Q 2019
1Q 2019
4304 Estees Road | Green Hills | Sold $1,285,000
1Q 2019
GREEN HILLS
1Q 2020 Residential Sales
Sales Price to List Price
Days on the Market
% Sold for Over List Price
97%
44
11%
1Q 2020
1Q 2020
1Q 2020
97%
47
10%
1Q 2019
1Q 2019
3406 Belmont Blvd | Green Hills | Sold $1,419,000
1Q 2019
GREEN HILLS
Neighborhood Market Trends (Sales Price) $1,500,000 $1,200,000 $900,000 $600,000 $300,000 $0 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 AVERAGE
MEDIAN
(Sales Price/Sqft $400
$300
$200
$100
$0
1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 2019 AVERAGE
MEDIAN
GREEN HILLS
Neighborhood Market Trends (Sales Price)
Average Sales Price
Change Over Last 3 Years
Change Over Last 5 Years
Change Over Last 7 Years
Change Over Last 10 Years
$1,078,000
30%
47%
74%
96%
2020 YTD
(Sales Price/Sqft)
Average Sales Price/Square Foot
Change Over Last 3 Years
Change Over Last 5 Years
Change Over Last 7 Years
Change Over Last 10 Years
$283
23%
31%
52%
63%
2020 YTD
GREEN HILLS
View 2020 Residential Sales
Total for Sale
66
Total Pending
23
Total Sold
113
Erin Simpson erin.simpson@gmail.com erinsimpsonproperties.com 615-714-8937
2814 12th Avenue South Nashville, TN 37204
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.
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