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May 7, 2008 (Franklin, TN)—The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of April. There were 250 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 April of 2007, the residential home closings decreased 26 percent and the median prices for residential homes decreased by 12 percent. Days on the market (DOM) for residential homes increased by 9 days as compared to April 2007. Condominium closings decreased by 42 percent. The median prices for condominiums decreased by 26 percent and days on the market decreased by 17 days compared to April 2007.
April 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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229
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$ 345,000
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$ 418,653
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74
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Condominium
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21
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$ 166,300
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$ 190,443
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63
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April 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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308
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$ 391,200
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$ 462,038
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65
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Condominium
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36
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$ 224,995
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$ 227,367
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80
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April 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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378
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$ 322,000
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$ 398,088
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48
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Condominium
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50
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$ 140,900
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$ 175,642
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38
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"The median is the middle number in a given sequence of numbers. Comparing April 2008 to April 2007, there were less homes in the higher end of the spectrum, thus tightening the variations in home values sold and lowering the median. This data cannot be construed to indicate that any individual home value has absolutely increased or decreased, it is an indicator of the price range of home that is selling at the time interval measured. The market remains a great buyers market. There is also good news for sellers; the days on the market decreased by 10 days compared to March 2008 signaling an uptick in the market,” said Kathie Moore, 2008 President of the Williamson County Association of REALTORS®.
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