From Post staff reports
Home sales in Wilson County continue on the upswing with more transactions made in May, and the $8,000 tax credit may be helping, local real estate agents said.
“May numbers are continuing to show a rebound in our housing market in Wilson County,” said Realtor Amy Hamilton said. Hamilton represents the Eastern Middle Tennessee Association of Realtors.
Wilson County real estate agents closed on 125 homes in May compared to 108 in April. The median home price rose from $180,878 to $199,900, down only slightly from May 2008 when the median home price was $208,000 as well as in May of 2007 when it was $205,000.
Pending sales increased to 139 for May, up from 124 in March. Inventory remained stable with 1,246 homes for sale in Wilson at the end of May compared to 1,219 homes on the market for sale at the end of April.
The average number of days on the market rose slightly from 84 to 94 but has remained within a close range this entire year, she said.
“With summer on us, interest rates still very low, and the $8,000 tax credit availability still in force, we expect to continue to see the housing market improve in Wilson County,” Hamilton said. “Buyers seem to be feeling more confident that we have seen the worse of the slow economy.”
Many potential buyers seem to think if they don’t act now, they will lose one of the best buying opportunities in history, Hamilton said. “The past couple of years have been trying for many, but we are seeing the rebound and we are working our way back up the mountain again.”