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September 8, 2009 (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 236 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 2008, the residential home closings decreased 25 percent and the median prices for residential homes sold decreased by 25 percent. Days on the market (DOM) for residential homes remained the same as compared to August 2008. Condominium closings decreased by 25 percent (7 units). The median prices for condominiums decreased by 2 percent and days on the market also increased by 27 days compared to August 2008.
August 2009
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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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215
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$ 290,000
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$ 352,072
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89
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Condominium
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21
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$ 187,500
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$ 192,079
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114
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August 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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286
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$ 385,000
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$ 439,129
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89
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Condominium
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28
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$ 192,000
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$ 199,805
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87
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August 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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423
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$ 367,500
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$ 444,824
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65
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Condominium
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39
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$ 194,980
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$ 210,912
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65
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August 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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479
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$ 370,000
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$ 440,742
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46
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Condominium
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33
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$ 183,000
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$ 201,757
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46
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August 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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493
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$ 301,000
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$ 372,921
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58
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Condominium
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50
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$ 152,000
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$ 163,256
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28
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"The local real estate market has been greatly impacted by the restrictions of lending institutions especially in the jumbo loan market. The majority of homes that are selling and closing are under the Fannie Mae $427,000 lending limit, and a lot of the activity in the market is a direct result of those first time buyers taking advantage of the $8000 tax credit which expires December 1st,”states Diane Johnson, 2009 President of the Williamson County Association of REALTORS® said.
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