Currently the inventory of homes offered for sale based on current list prices is as follows:

Sales Rate for High Priced Homes in Middle Tennessee
		2011	2012	Number of Listings 4/4/2013	Current Months of Inventory based on 2012 Sales
$1,000,000	$1,099,999	31	33	29	10.5
$1,100,000	$1,199,999	25	31	38	14.7
$1,200,000	$1,299,999	25	33	39	14.2
$1,300,000	$1,399,999	14	21	24	13.7
$1,400,000	$1,499,999	14	13	28	25.8
$1,500,000	$1,599,999	10	13	19	17.5
$1,600,000	$1,699,999	0	8	17	25.5
$1,700,000	$1,799,999	4	6	14	28.0
$1,800,000	$1,899,999	3	4	6	18.0
$1,900,000	$1,999,999	5	2	12	72.0
$2,000,000	$2,499,999	8	14	26	22.3
$2,500,000	$2,999,999	10	9	25	33.3
$3,000,000	$3,999,999	3	3	19	76.0
$4,000,000	and Up	0	4	16	48.0
Based on listings sold in MLS on sites of less than 20 acres - Study area includes Davidson, Williamson, Cheatham, Robertson, Sumner, Wilson and Rutherford Counties.

This study indicates that currently there is a minimum of 1.46 years worth of inventory in each price range over $1,500,000, with 6.3 years worth in the 3 to 4 million dollar range.

Additionally, we examined sales of homes with final list prices from $1,500,000 to $2,900,000, that sold from January 1, 2011 to April 9, 2013, on lots of 20 acres or less.  In 2011 the average total marketing time from original listing to accepted contract was 456 days, in 2012 the average was 301 days, and through the first quarter of 2013 the average was 627 days. Half year comparisons also showed declining marketing times, with the first half of 2011 showing an average of 504 days, second half of 2011 - 429 days, first half of 2012 - 330 days, and the second half of 2012 - 276 days.

Not surprisingly with a decrease in the average marketing time there was a corresponding increase in average original list price to sales price ratio. In 2011 it averaged 80.45% and in 2012 it had increased to 83.19%. Noting that year to date marketing times in 2013 are higher, and the original list price to sales price ratio has declined to 79.18%.