2015 is quickly coming to a close and the housing market has seen some great times this year. Even though there is a traditional drop off in home sales through the holidays the market has still been firing along at a steady pace. There is still a lot of demand for homes in Spring Hill, TN and not enough homes to meet the demand. This creates a rise in home prices and a challenge for buyers but also great opportunities for sellers. Here is a look at what the real estate market has been doing in Spring Hill between November 15, 2015 and December 15, 2015.
Spring Hill TN Housing Market Update
October 15, 2015 through November 15, 2015
Houses Closed: 90 (+10 Over October 23- November 23rd Period)
Average Sale Price: $280,657 ($253,196)
Average Sale Price per Square Foot: $114.27 ($111.69)
Median Sale Price: $263,078 ($236,367)
Median Sale Price per Square Foot: $116.72 ($113.57)
Lowest Sale Price: $140,000 for a 1,202 SQFT home with 3 bedrooms and 2 bathrooms (Sold in Oak Lake Estates).
Highest Sale Price: $478,000 for a 3,863 SQFT home with 5 bedrooms and 4.5 bathrooms (Sold in Autumn Ridge).
Parenthesis are values from the previous period that was analyzed.
Homes Currently on the Market in Spring Hill
$200,000 and Under: 25 with 12 under contract. (See Spring Hill Homes for sale under $200K)
$200,001 to $250,000: 49 with 26 under contract. (See Spring Hill Homes for sale between $200,000 to $250,000)
$250,001 to $300,000: 54 with 17 under contract.
$300,001 to $400,000: 62 with 12 under contract.
$401,000 to $500,000: 34 with 6 under contract.
$501,000 and up: 27 with 2 under contract.
Spring Hill Market Analysis:
The most popular neighborhoods in Spring Hill during this time period were Beneveto with 9 homes sold, Williams Park with 7 homes sold, The Arbors of Autumn Ridge with 6 homes sold, and the Reserve at Port Royal with 5 homes sold.* Many of the homes sold were new construction. During this period the $200,001 to $250,000 price range had the most action in Spring Hill with 53% of these homes coming under contract. The under $200k price range has 48% of the homes under contract which puts it into second place. Overall the market has slowed slightly during the holiday season. This is very normal as many homeowners prefer to list after the holidays have passed. This does create an advantage for buyers who may have had trouble earlier in the year with too much competition and multiple offer situations. Houses in Spring Hill, TN sold on average within 1.39% of the list price.
For more information on home values (including your neighborhood) or help with selling your home contact me with the form below, call (or text) 931-674-1727 or 615-302-4242, or email: DaveTownsend@KW.com. I would love to work with you!
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This data was valid as of 12/16/2015 and is subject to change as market conditions change.