DQ reports our for Nashville, Q1 07 (Murfreesboro, Franklin: sales, real estate, homes)

[sliverbox]

The numbers are out. There's good news and bad news( depending on whatever side of the fence you sit). The basic report shows that sales are down 6.5% for Davidson Co. Ruthorford Co. is down 4.2%. Williamson CO( the most expensive area) is down 20.8%.

If you're a home buyer, that's not bad news. But there is bad news despite the slower sales. Some areas show nosebleed appreciation almost on par with
"housing bubble" levels. For example, the zip code 37220 showed a 37% increase in the median. This is also a higher priced areas, thus it doesn't take many million dollar homes to sell to jack the median. Some areas showed a decrease in median. 37204 showed a -5.6% decrease. On average, the median for moderate areas was around 3-5% increase in appreciation.

The good news is that the many areas within and outside of Nashville were still moderate in price, as in 130-175k.

So the big picture is this: Sales in all areas are down. Prices are up moderately. Nothing dramatic, but again- some areas especially in Williamson CO are getting dangerously close to housing bubble prices, which as seen by lower sales and depreciation there is starting to take it's toll.

I think what can be learned from this is that by seeing the activity in places like Brentwood and Franklin, there is a ceiling in what is acceptable for prices in Nashville. The acceptable level is still massively different from many maajor US cities.

[sliverbox]

Here's the full report:

DAVIDSON TNDA Median Price Sales Volume
Community Zip Code 1Q2007 % Chg* $/SqFt 1Q2007 % Chg*
All homes $156,941 5.3% $99 3,020 -6.5%
ANTIOCH 37013 $153,318 7.5% $89 474 19.7%
GOODLETTSVILLE 37072 $159,000 -1.9% $91 141 31.8%
HERMITAGE 37076 $164,095 9.4% $98 170 -10.1%
JOELTON 37080 $142,400 3.0% $105 15 -44.4%
MADISON 37115 $126,000 23.5% $88 131 -20.1%
NASHVILLE 37203 $224,000 10.9% $173 47 -45.3%
NASHVILLE 37204 $283,250 -5.6% $163 48 2.1%
NASHVILLE 37205 $360,000 24.1% $192 102 -11.3%
NASHVILLE 37206 $140,884 15.5% $104 137 7.9%
NASHVILLE 37207 $104,950 10.5% $76 157 11.3%
NASHVILLE 37208 $80,325 -5.5% $71 56 -8.2%
NASHVILLE 37209 $150,000 3.4% $109 123 -15.2%
NASHVILLE 37210 $90,000 3.7% $86 42 13.5%
NASHVILLE 37211 $169,000 11.5% $96 304 -18.3%
NASHVILLE 37212 $309,000 5.3% $204 57 7.5%
NASHVILLE 37214 $129,900 -6.7% $96 138 -27.0%
NASHVILLE 37215 $335,000 -1.6% $170 103 -18.3%
NASHVILLE 37216 $128,250 11.7% $98 93 -16.2%
NASHVILLE 37217 $129,500 -2.6% $80 102 -23.9%
NASHVILLE 37218 $109,000 12.8% $84 45 -22.4%
NASHVILLE 37219 $255,831 365.1% $109 16 1500.0%
NASHVILLE 37220 $438,500 37.0% $164 18 -18.2%
NASHVILLE 37221 $209,450 3.8% $110 186 -9.3%
OLD HICKORY 37138 $141,895 2.3% $99 76 -9.5%
WHITES CREEK 37189 $131,900 -2.3% $107 13 -23.5%

RUTHERFORD TNRU Median Price Sales Volume
Community Zip Code 1Q2007 % Chg* $/SqFt 1Q2007 % Chg*
All homes $148,450 6.0% $90 1,336 -4.2%
CHRISTIANA 37037 $140,900 11.9% $84 56 5.7%
EAGLEVILLE 37060 $180,396 35.6% $70 12 71.4%
LA VERGNE 37086 $131,250 5.0% $88 173 3.6%
LASCASSAS 37085 $149,250 -0.3% $87 11 -15.4%
MURFREESBORO 37127 $146,500 -1.9% $94 76 20.6%
MURFREESBORO 37128 $168,000 11.4% $92 239 16.0%
MURFREESBORO 37129 $158,513 6.4% $91 210 -11.0%
MURFREESBORO 37130 $134,450 2.2% $82 194 10.2%
ROCKVALE 37153 $130,000 -24.3% $92 16 -42.9%
SMYRNA 37167 $152,500 5.5% $96 238 11.7%

WILLIAMSON TNWI Median Price Sales Volume
Community Zip Code 1Q2007 % Chg* $/SqFt 1Q2007 % Chg*
All homes $319,000 11.7% $131 981 -20.8%
ARRINGTON 37014 $493,492 45.1% $53 10 0.0%
BRENTWOOD 37027 $354,000 -16.4% $136 234 -10.3%
COLLEGE GROVE 37046 $180,000 58.2% $152 6 -70.0%
FAIRVIEW 37062 $162,000 -3.5% $109 54 3.8%
FRANKLIN 37064 $279,900 -3.5% $133 233 -20.5%
FRANKLIN 37067 $383,291 2.2% $132 154 14.9%
FRANKLIN 37069 $396,200 38.6% $154 84 -10.6%
NOLENSVILLE 37135 $322,990 9.4% $125 84 23.5%
THOMPSONS STATION 37179 $189,000 -5.9% $122 42 -40.8%

[kar]

Originally Posted by sliverbox

Here's the full report:

DAVIDSON TNDA Median Price Sales Volume
Community Zip Code 1Q2007 % Chg* $/SqFt 1Q2007 % Chg*
All homes $156,941 5.3% $99 3,020 -6.5%
ANTIOCH 37013 $153,318 7.5% $89 474 19.7%
GOODLETTSVILLE 37072 $159,000 -1.9% $91 141 31.8%
HERMITAGE 37076 $164,095 9.4% $98 170 -10.1%
JOELTON 37080 $142,400 3.0% $105 15 -44.4%
MADISON 37115 $126,000 23.5% $88 131 -20.1%
NASHVILLE 37203 $224,000 10.9% $173 47 -45.3%
NASHVILLE 37204 $283,250 -5.6% $163 48 2.1%
NASHVILLE 37205 $360,000 24.1% $192 102 -11.3%
NASHVILLE 37206 $140,884 15.5% $104 137 7.9%
NASHVILLE 37207 $104,950 10.5% $76 157 11.3%
NASHVILLE 37208 $80,325 -5.5% $71 56 -8.2%
NASHVILLE 37209 $150,000 3.4% $109 123 -15.2%
NASHVILLE 37210 $90,000 3.7% $86 42 13.5%
NASHVILLE 37211 $169,000 11.5% $96 304 -18.3%
NASHVILLE 37212 $309,000 5.3% $204 57 7.5%
NASHVILLE 37214 $129,900 -6.7% $96 138 -27.0%
NASHVILLE 37215 $335,000 -1.6% $170 103 -18.3%
NASHVILLE 37216 $128,250 11.7% $98 93 -16.2%
NASHVILLE 37217 $129,500 -2.6% $80 102 -23.9%
NASHVILLE 37218 $109,000 12.8% $84 45 -22.4%
NASHVILLE 37219 $255,831 365.1% $109 16 1500.0%
NASHVILLE 37220 $438,500 37.0% $164 18 -18.2%
NASHVILLE 37221 $209,450 3.8% $110 186 -9.3%
OLD HICKORY 37138 $141,895 2.3% $99 76 -9.5%
WHITES CREEK 37189 $131,900 -2.3% $107 13 -23.5%

RUTHERFORD TNRU Median Price Sales Volume
Community Zip Code 1Q2007 % Chg* $/SqFt 1Q2007 % Chg*
All homes $148,450 6.0% $90 1,336 -4.2%
CHRISTIANA 37037 $140,900 11.9% $84 56 5.7%
EAGLEVILLE 37060 $180,396 35.6% $70 12 71.4%
LA VERGNE 37086 $131,250 5.0% $88 173 3.6%
LASCASSAS 37085 $149,250 -0.3% $87 11 -15.4%
MURFREESBORO 37127 $146,500 -1.9% $94 76 20.6%
MURFREESBORO 37128 $168,000 11.4% $92 239 16.0%
MURFREESBORO 37129 $158,513 6.4% $91 210 -11.0%
MURFREESBORO 37130 $134,450 2.2% $82 194 10.2%
ROCKVALE 37153 $130,000 -24.3% $92 16 -42.9%
SMYRNA 37167 $152,500 5.5% $96 238 11.7%

WILLIAMSON TNWI Median Price Sales Volume
Community Zip Code 1Q2007 % Chg* $/SqFt 1Q2007 % Chg*
All homes $319,000 11.7% $131 981 -20.8%
ARRINGTON 37014 $493,492 45.1% $53 10 0.0%
BRENTWOOD 37027 $354,000 -16.4% $136 234 -10.3%
COLLEGE GROVE 37046 $180,000 58.2% $152 6 -70.0%
FAIRVIEW 37062 $162,000 -3.5% $109 54 3.8%
FRANKLIN 37064 $279,900 -3.5% $133 233 -20.5%
FRANKLIN 37067 $383,291 2.2% $132 154 14.9%
FRANKLIN 37069 $396,200 38.6% $154 84 -10.6%
NOLENSVILLE 37135 $322,990 9.4% $125 84 23.5%
THOMPSONS STATION 37179 $189,000 -5.9% $122 42 -40.8%

Where did you get this report from?

[sliverbox]

Look up DQ real estate reports. They have links to various cities around the country. They don't update smaller cities as often, but Q1 is pretty recent for Nashville. They focus mainly on "bubbly" areas like SF, LA, and Seattle.

All in all, these reports seem in line with what I've read: A slowdown in sales, a slight gain in appreciation, and a larger slowdown and some depreciation in expensive areas like Franklin,Brentwood, and so on.