Nashville Real Estate Forum

September 8th, 2007 9:20 PM

Sales Prices Holding in Williamson

Sept. 7, 2007 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of August. There were 462 residential and condominium closings reported for the month, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.

Compared to August of 2006, the residential home closings decreased 12 percent. The median prices for residential homes remained consistent with a less than one percent change. Days on the market (DOM) for residential homes increased by 18 days or 41 percent as compared to August 2006. Condominium closings increased by 18 percent (6 units). The median prices for condominiums increased by 7 percent and days on the market also increased by 41 percent (18 days) compared to August 2006.


August 2007

Closings

Median Price

Average Price

DOM

Residential

423

$ 367,500

$ 444,824

65

Condominium

39

$ 194,980

$ 210,912

65

August 2006

Closings

Median Price

Average Price

DOM

Residential

479

$ 370,000

$ 440,742

46

Condominium

33

$ 183,000

$ 201,757

46

August 2005

Closings

Median Price

Average Price

DOM

Residential

493

$ 301,000

$ 372,921

58

Condominium

50

$ 152,000

$ 163,256

28


"During 2007, days on the market have been consistent, between 61-67 days. We had a decrease of one day from July to August, the inventory of homes is still being turned around in a consistent time frame since the beginning of the year. Although the amount of closings has decreased, the market continues to attract buyers and sellers. Over the past two years, the median price of a residential home has increased by 22 percent. The market is now beginning to normalize as inventory and demand is equalizing," Susan McKinney, 2007 President of the Williamson County Association of REALTORS® said.
Posted by Gary Moore on September 8th, 2007 9:20 PM
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