The Williamson County home market continues to be very active and strong in spite of the national trends that you are hearing about on the daily news. Like any business trends, home indicators rise and fall compared to previous years and all home buyers and sellers are anxious to know how this area of the country measures up to other local and national markets. A key to the Williamson County market is the continued increase in property values. All professionals tracking these trends in Williamson County real estate sales agree that the anticipated future growth is still projected to be very postive. Good news for buyers and sellers!
Call us with your real estate needs . . .Dianne
Call us with your real estate needs . . .Dianne
Williamson County Association of Realtors® Announces July 2007 Home Sales
July 8, 2007 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of July. There were 472 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 July of 2006, the residential home closings decreased 16 percent. While the median prices for residential homes increased by 3 percent. Days on the market (DOM) for residential homes increased by 20 days or 43 percent as compared to July 2006. Condominium closings decreased by 3 percent (1 unit). The median prices for condominiums increased by 16 percent and days on the market also increased by 50 percent (26 days) compared to July 2006.
July 2007
Closings
Median Price
Average Price
DOM
Residential
437
$ 384,900
$ 449,994
66
Condominium
35
$ 215,000
$ 229,134
76
July 2006
Closings
Median Price
Average Price
DOM
Residential
518
$ 373,353
$ 419,341
46
Condominium
36
$ 185,000
$ 215,615
50
July 2005
Closings
Median Price
Average Price
DOM
Residential
541
$ 317,000
$ 367,786
54
Condominium
45
$ 158,900
$ 153,825
31
Although closings have decreased compared to 2006's record-breaking year, Williamson County's real estate market is still active. For 2007 to date the days on the market for single family homes has ranged between 61-67 days. Although closings have decreased, the inventory of homes is still being turned around in a consistent time frame since the beginning of the year. The median prices for homes continues to increase, although not as significantly as the previous two years, allowing the market to normalize at market-driven prices. The median home price on average for the South as reported by the National Association of REALTORS states that .7% increases are being experienced from last year to this year.
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