Nashville Real Estate Forum

Williamson County Association of REALTORS® Announces December Housing Numbers

January 7, 2009 (Franklin, TN)—The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of December 2008. There were 171 residential and condominium closings reported for the month of December, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.

Compared to December of 2007, the single family residential closings decreased 41 percent and the median price decreased by 12 percent. Condominiums closings have decreased by 72 percent and the median price increased by 5 percent. An average of 24 condos have closed per month in 2008; compared to an average of 44 units per month in 2007. Closings have been consistent through 2008, as shown in the chart below.

The average days on the market (DOM) for residential homes have increased by 14 days. Days on the market have been consistent since the onset of 2008, with the days ranging from 74 – 89 days. Median prices have remained consistent since January 2007, ranging from $340,000 to $391,200. The median is a typical market price where half of the homes sold for more and half sold for less.

December 2008

December 2007

December 2006

December 2005

"The market finished as expected for 2008, with closings following the same trend curve as the prior three years. Closings improved by 6% in December compared to November 2008. Overall for the year, Williamson County residential closings were down 32% compared to 2007 and the median price remained steady, with only a 4 percent decrease compared to 2007. When comparing 2005 and 2008, median home prices have increased 27 percent. When comparing our local market to the rest of the country, we have performed much better than many other areas. Several areas are experiencing median price drops that brought home values back to their 2005 rates; our area has far out performed that metric We still continue to have great communities with tremendous stability and promise. We expect 2009 to remain consistent with 2008 with an increased volume of transactions towards the middle of the year and an overall increase in transactions by the end of the year.” said Diane Johnson, 2009 President of the Williamson County Association of REALTORS®.

The Williamson County Association of REALTORS® is the professional trade organization servicing the real estate industry in Williamson County. Established in 1962, the association provides professional development and support services for real estate professionals. The association has over 1,500 members and is headquartered in Franklin, Tn.

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Media Inquiries:

Theresa Wilson, CAE

Executive Vice President

Williamson County Association of REALTORS®

840 Crescent Centre Drive, Suite 120

Franklin, TN 37067

www.williamsoncountyrealtors.org

p: 615-771-6845

f: 615-771-6621

m: 615-557-7197