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March 10, 2008 (Franklin, TN)—The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of February 2008. There were 190 residential and condominium closings reported for the month of February, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.
Compared to February of 2007, the single family residential closings decreased 37 percent and the median price increased by 4 percent. Compared to 2006, the median home prices have increased by 27 percent. Condominiums closings have decreased by 25 percent and the median price increased by 19 percent. The average days on market (DOM) for residential homes has increased by 14 days and condominiums have remained consistent. The median is a typical market price where half of the homes sold for more and half sold for less.
February 2008
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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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163
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$ 387,000
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$ 439,578
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77
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Condominium
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27
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$ 215,000
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$ 232,452
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60
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February 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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260
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$ 371,118
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$ 432,966
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63
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Condominium
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36
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$ 180,652
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$ 220,079
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61
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February 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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296
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$ 304,900
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$ 390,915
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53
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Condominium
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29
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$ 157,500
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$ 174,386
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22
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"The Williamson County real estate market is showing signs of waking up after winter hibernation. The time is right for buyers to pick the home of their dreams while interest rates are still favorable and there is a nice selection of inventory. The increase in the median home price is a sign that demand for homes in the ranges above the median is high in Williamson County,” said Kathie Moore, 2008 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 1,600 members and is headquartered in Franklin, Tn.
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