Nashville Real Estate Forum

December 9th, 2008 7:12 PM
November 2008 Home Sales

December 8, 2008 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of November 2008. There were 145 residential and condominium closings reported for the month of November, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.

Compared to November of 2007, the single family residential closings decreased 47 percent and the median price remained the same. Condominiums closings have increased by 52 percent and the median price decreased by 16 percent. The average days on the market (DOM) for residential homes have increased by 20 days and condominiums have increased by 11 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 2008, ranging from $345,000 to $395,000. The median is a typical market price where half of the homes sold for more and half sold for less.

November 2008

Closings

Median Price

Average Price

DOM

Residential

130

$ 364,891

$ 451,967

89

Condominium

15

$ 185,500

$ 184,630

51

November 2007

Closings

Median Price

Average Price

DOM

Residential

247

$ 365,000

$ 427,205

69

Condominium

31

$ 219,990

$ 227,241

40

November 2006

Closings

Median Price

Average Price

DOM

Residential

308

$ 401,700

$ 466,644

55

Condominium

24

$ 189,890

$ 219,234

23

November 2005

Closings

Median Price

Average Price

DOM

Residential

398

$ 296,072

$ 370,150

50

Condominium

52

$ 152,920

$ 167,229

27


"November traditionally has the fewest number of closings in our local market and this year is no different. Over the past 4 years, the November closings were very similar to the January closings, and this year we experienced the same trend. With the holidays approaching, we anticipate more buyers to be utilizing their vacation time to visit houses for sale and begin the process of making offers that will reflect in the 2009 closings. Now is a great opportunity to take advantage of the 2008 Federal Government's $7500 tax benefit for first time home buyers." said Diane Johnson, 2009 President of the Williamson County Association of REALTORS®.
Posted by Gary Moore on December 9th, 2008 7:12 PM
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