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VOL. 44 | NO. 42 | Friday, October 16, 2020

Nashville-area sales soar past 2019’s record totals

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Greater Nashville Realtors sales data shows 4,336 properties sold in September compared to 3,794 in September 2019, an increase of 17%. And while the enormous bounce was expected, the number is nonetheless impressive, especially during a pandemic.

Sales increased 12% for the third quarter, and there have been 32,540 sales through three quarters compared to 31,900 for the same period last year.

And last year, you might recall, was a record year for sales in Middle Tennessee.

With 3,799 sales pending at the end of September, October numbers should continue to show improvement. There were only 3,181 sales pending at the end of September 2019.

Even though sales for the Greater Nashville area have been rising all year, Nashville has been strong but has not surpassed last year’s sales for most months. September was a different story with 1,413 closed sales in the county compared to 1,267 in September 2019.

COVID aside, there is one baffling statistic. There were 11,447 listings in inventory in the Greater Nashville area last year when sales hit 3,794, and only 7,847 listings this year when sales jumped 17%.

Inventory drops 31% and sales increase 17%. Such a statement defies logic but bodes well for sellers.

During the past few years, sales have continued through the holiday season. And with sales as brisk they are, those waiting for the spring market will have to allow for higher prices.

Some people are curious about how the presidential election might affect the market. Opinions seem to reflect which cable TV networks predicters prefer.

As has been the case in most presidential elections, the result has not had an immediate effect on housing.

Vote.

Sale of the Week

Sycamore Lane sounds like a street from a Southern novel, and the colonial style home would fit well with the family of the protagonist. It will prove a nice setting for the young girl as she carries on the day-to-day life that Southern novel characters always do, funny accents and all.

3704 Sycamore Lane

With four bedrooms, three full bathrooms plus two half bathrooms, the house would have to be set in this modern era as the colonial style refers to the colonies of the United States, and the colonists did not have homes that included bathrooms, half or full.

Realtor Amanda Hoffman is a native Nashvillian and has driven the streets that Miss Daisy once drove, or at least her driver, Hoke, once drove them for her. Hoffman possesses the business acumen of the legendary Werthans of “Driving Miss Daisy” fame, especially as it comes to real estate.

The house at 3704 Sycamore Lane, the lazy, little street secluded and hidden behind the boisterous and bustling Woodmont Boulevard, rests comfortably, ready to embrace Nashville’s versions of Scout, Jem and Dill. Boo Radley is nowhere to be found on Sycamore.

Hoffman purchased the home in 2018, tax records show, and sold the property last week for $1,191,500, or $311 per square foot, proving once more that there is more money in real estate than writing. An agent with Compass she can find the way to a great deal.

In order to see the financial results the Hoffman family realized, there is some talent involved and Hoffman comes by that through her education at Middle Tennessee State University, where she earned her degree in textile, merchandising and design. She utilized all three in her work on the home from the soon-to-be-written novel.

The house is situated at the end of a cul-de-sac, a perfect landing site for tire swings, and she incorporated marble and quartzite in her eat-in kitchen so Calpurnia does not have to transport the food all the way to the dining room.

Some might ask what in the Sam Hill the architect was thinking back in 1987 when he designed a house with two master bedrooms, but it works nicely in today’s lifestyle to have two owner’s suites. The house slumbered on the market for 77 days before Gabe Nies, a Realtor with Parks, escorted a buyer to the premises. With a name like Gabe Nies, there is no doubt he will find his way into the book.

With Ann Shayne living only a bottle rocket trip way, the residents of Sycamore Lane should prepare to sign the releases. Their names will soon be in print, then in lights.

Richard Courtney is a licensed real estate broker with Fridrich and Clark Realty and can be reached at richard@richardcourtney.com.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0