April 8, 2008 (Franklin, TN)—The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of March. There were 273 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 March of 2007, the residential home closings decreased 29 percent and the median prices for residential homes decreased by 1 percent. Days on the market (DOM) for residential homes increased by 16 days or 24 percent as compared to March 2007. Condominium closings decreased by 43 percent. The median prices for condominiums increased by 15 percent and days on the market also increased by 41 percent (17 days) compared to March 2007.
March 2008
|
|
Closings
|
Median Price
|
Average Price
|
DOM |
|
Residential
|
243
|
$ 375,000
|
$ 439,809
|
83
|
|
Condominium
|
30
|
$ 209,404
|
$ 212,124
|
58
|
March 2007
|
|
Closings
|
Median Price
|
Average Price
|
DOM
|
|
Residential
|
340
|
$ 380,000
|
$ 456,587
|
67
|
|
Condominium
|
53
|
$ 181,990
|
$ 203,859
|
41
|
March 2006
|
|
Closings
|
Median Price
|
Average Price
|
DOM
|
|
Residential
|
401
|
$ 327,402
|
$ 402,950
|
51
|
|
Condominium
|
51
|
$ 137,000
|
$ 163,395
|
33
|
"Williamson County’s real estate market is showing the first signs of an upswing in buyer interest. We are hopeful that buyers will continue their renewed interest in buying homes. The longer days on the market reflects the slowed absorption over the past six months. We continue to believe that the improving stability in the mortgage market and the pent-up demand for housing will bring recovery in the housing market by the fourth quarter of 2008,” said Kathie Moore, 2008 President of the Williamson County Association of REALTORS®.
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 1,650 members and is headquartered in Franklin, Tn.
|