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Maury County Home Prices Dip Slightly in May, Up 7.2% Compared to Last Year

Issue #126

22 Jun

In this What’s Up Columbia issue…

🗓 List of Upcoming Events

🌤 Columbia Weather - Partly cloudy with a high of 93

🏡 Maury County Home Prices Dip Slightly in May, Up 7.2% Compared to Last Year

📰 Columbia Water Rates to Increase Under CPWS Proposal; Public Hearing Scheduled for July

☕️ Monday: Awaken Coffee Co’s Opening Day

📌 Today: Columbia Vintage Market

🎵 This Week’s Live Music

📣 We Want To Spotlight Your Business! Apply Here

🗓 Know of Some Local Events Not Listed? Send us the Details! 

Upcoming Local Events

🗓 Have an event to add? Send us the Details!

Saturday, June 22nd

Sunday, June 23rd

Monday, June 24th

Tuesday, June 25th

Wednesday, June 26th

Friday, June 28th

Maury County Home Prices Dip Slightly in May, Up 7.2% Compared to Last Year

Shooting in my office

In May, the median home listing price in Maury County was $469,998, reflecting a 2.2% decrease from April's $480,325. Compared to May 2023, the median list price increased by 7.2% from $439,445. This data, sourced from Realtor.com, pertains exclusively to houses listed for sale, not those that were sold.

The typical home listed in Maury County was 2,069 square feet, with a price of $228 per square foot, showing a 3.6% decrease from May 2023. Homes in the area had a median listing duration of 29 days, shorter than the national median of 44 days. In April, homes were on the market for a median of 30 days. In May, 248 homes were newly listed, a 3.9% drop from 258 new listings in May 2023.

The median home prices reported by Realtor.com include existing homes but exclude most new constructions and pending or contingent sales. These figures represent only single-family homes, condominiums, or townhomes.

In the larger Nashville-Davidson-Murfreesboro-Franklin metro area, the median home price rose slightly to $588,450. The median home in this area was 2,204 square feet, with a listing price of $273 per square foot.

Statewide in Tennessee, the median home price was $449,995, a slight increase from April. The median home size was 2,034 square feet, priced at $235 per square foot.

Nationally, the median home price was $442,450, a small rise from the previous month. The median home for sale in the U.S. was 1,859 square feet, listed at $233 per square foot.

The median home list price represents the midpoint of all the houses or units listed during the given period, providing a more accurate market view than the average list price. The average can be distorted by particularly low or high prices, whereas the median offers a balanced perspective.

Columbia Water Rates to Increase Under CPWS Proposal; Public Hearing Scheduled for July

At the Columbia City Council’s monthly meeting on June 13, increases for water rates and impact fees were approved on first reading. Columbia Power and Water System (CPWS) requested these increases to adjust the water rates for large volume customers.

The proposed increases are part of a two-year rate plan. Residential customer charges would see a $5 increase, while commercial and industrial customers would face a $10 increase.

The new usage rates are divided into Urban and Suburban categories. Urban residential and commercial customers using 0-8,000 gallons monthly will pay $3.30 per 1,000 gallons. Those using 8,001-20,000 gallons will pay $3.80 per 1,000 gallons, and users over 20,000 gallons will pay $4.05 per 1,000 gallons. Suburban residential and commercial customers using 0-8,000 gallons will pay $4.30 per 1,000 gallons. Usage between 8,001-20,000 gallons will cost $4.80 per 1,000 gallons, and over 20,000 gallons will be $5.05 per 1,000 gallons.

A second year of rate changes is included in the CPWS proposal but has yet to be considered or approved.

The ordinance for the new rate schedules passed its first reading. A public hearing for the ordinance is scheduled for July 11, before the next city council voting session. The second and final reading is expected to be on the agenda for that meeting.

Additionally, a CPWS proposal to increase water impact fees for new customers was approved on the first reading. This increase aims to fund water system capital facilities and public improvements.

The resolution recommends three impact fee increases of $500 per single-family unit (SFU) equivalent. The first $500 increase is set for August 1, 2024, after two readings and a 30-day notice period. Subsequent increases are planned for July 1, 2025 (FY26), and July 1, 2026 (FY27).

The proposed increases are based on the cost of a three-quarter inch meter service, which represents one SFU equivalent. Costs for larger meters are adjusted to reflect the number of SFU equivalents they can serve. The costs range from $5,500 for a three-quarter inch meter to $1.577 million for a 10-inch meter.

Monday: Awaken Coffee Co’s Opening Day

Awaken Coffee Co. is opening on Monday morning in Spring Hill near the Kedron Rd. exit. This unique new coffee shop is located on a gorgeous 170 year old historic property which also is home to an AirBnb / Performance & Event Venue and boutique. The main house adjacent to the AirBnb is open daily to the public.

If you’re a creative who needs a space for songwriting, podcasting, content creation of production, the Writers Room at The Awaken House is also available. Rent for $50 for half day (4 hr) or $100 for full day (8hrs).

Opening Monday June 24th

7:00 - 3:00 Monday - Friday
7:00 - 12:00 Saturdays
Closed Sundays

3035 Reserve Blvd, Spring Hill

Today: Columbia Vintage Market

Columbia, TN’s only Vintage Market

Vintage 〰️ Secondhand 〰️ Handmade 〰️ Art

JUNE 22, 11 AM - 5 PM
1609 MAIN STREET

Your Vendor Lineup: 

🎵 This Week’s Live Music 🎵

Saturday, June 22nd

The Morgan's, Keg Springs Winery, 2-5 PM
Magic & Melodies for Maury - tornado Benefit Show, Hardison Mill Homestead Hall, 6:30-9 PM
An Evening on the Farm - Muletown Tornado Fundraiser, Farm at Riverbend, 6:30-9 PM
Bald Kernal, The Tilted Mule, 7 PM
Johnny Jameson & The Empty Pints, McCreary's Irish Pub, 7-9 PM
Cole Ritter & The Night Owls, Puckett's, 7:30-9 PM
Tennessee Stills, Fozzy's Bar & Grill, 8-11 PM

Sunday, June 23rd

Dark Waters Project, The Tilted Mule, 3 PM
Archer, Fozzy's Bar & Grill, 5-8 PM
Mary Lou, Puckett's, 6-7:30 PM

👇 Click the Links to Learn About our Local Business Sponsors! 👇

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