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The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of June. There were 506 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 June of 2006, the residential home closings decreased 18 percent. While the median prices for residential homes increased by 6 percent. Days on the market (DOM) for residential homes increased by 19 days or 28 percent as compared to June 2006. Condominium closings decreased by 16 percent. The median prices for condominiums increased by 5 percent and days on the market also increased by 34 percent (13 days) compared to June 2006.
June 2007
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Closings
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Median Price
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Average Price
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DOM
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Residential
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447
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$ 380,000
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$ 459,373
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67
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Condominium
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59
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$ 207,900
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$ 232,256
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51
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June 2006
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Closings
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Median Price
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Average Price
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DOM
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Residential
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545
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$ 355,500
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$ 435,670
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48
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Condominium
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51
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$ 218,990
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$ 222,588
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38
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June 2005
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Closings
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Median Price
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Average Price
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DOM
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Residential
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541
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$ 317,000
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$ 367,786
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54
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Condominium
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45
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$ 158,900
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$ 153,825
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31
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"Although closings have decreased compared to 2006’s record-breaking year, Williamson County’s real estate market continues to produce an increase in median prices and continues to beat the regional average in days on the market. Although mortgage interest rates are trending up, they are historically favorable,” Susan McKinney, 2007 President of the Williamson County Association of REALTORS® said. “The good news is buyers have advantageous negotiating power with a supply of homes available. Buyers who’ve been on the sidelines may want to take action – if they wait for sales to rise as summer progresses, their choices and negotiating position may not be as good as they are currently."
The Williamson County Association of REALTORS® is the professional board of choice for 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 1,700 members and is headquartered in Franklin, Tn.
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