| Sep 11 2007 |
| Williamson County Association of REALTORS® Announces August 2007 Housing Numbers
|
September 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.
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