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November 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 October 2007. There were 289 residential and condominium closings reported for the month of October, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.
Compared to October of 2006, the single family residential closings decreased 40 percent and the median price increased by 3 percent. Condominiums closings have decreased by 43 percent and the median price increased by 6 percent. The average days on the market (DOM) for residential homes have increased by 7 days and condominiums have increased by 13 days. Days on the market have been consistent since the onset of 2007, with the days ranging from 58 – 68 days. Median prices have remained consistent since January 2007, ranging from $367,500 to $391,200. The median is a typical market price where half of the homes sold for more and half sold for less.
October 2007
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Closings
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Median Price
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Average Price
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DOM
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Residential
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256
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$ 385,225
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$ 451,472
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58
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Condominium
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33
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$ 197,655
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$ 231,030
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53
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October 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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427
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$ 375,000
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$ 455,567
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51
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Condominium
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58
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$ 185,500
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$ 205,317
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40
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October 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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412
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$ 285,000
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$ 363,267
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53
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Condominium
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36
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$ 139,845
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$ 163,679
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47
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"The market is normalizing from the past 2 exceptional years we've had in Williamson County. There are many attractive homes available on the market and interest rates are favorable for buyers to make an excellent selection of a lifestyle in Williamson County. Although the National media has indicated that there is a complete slow down, those numbers do not correspond with our area. Homes are still increasing in value and are selling” said Susan McKinney, 2007 President of the Williamson County Association of REALTORS®.
The Williamson County Association of REALTORS® is the professional trade organization servicing 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 1,750 members and is headquartered in Franklin, Tn.
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