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November 9, 2009 (Franklin, TN)—The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of October 2009. There were 239 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 2008, the single family residential closings increased 10 percent and the median price decreased by 17 percent. Condominiums closings have increased by 39 percent and the median price decreased by 23 percent. The average days on the market (DOM) for residential homes have increased by 11 days. The median is a typical market price where half of the homes sold for more and half sold for less.
October 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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214
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$ 300,000
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$ 385,665
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91
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Condominium
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25
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$ 180,000
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$ 201,165
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111
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October 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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195
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$ 362,350
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$ 440,270
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80
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Condominium
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18
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$ 232,250
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$ 228,173
|
98
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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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"Some of the drop in the median price is due to new buyers taking advantage of the existing First Time Homebuyers tax credit that was set to expire November 1st. The lower-priced homes in our area are selling faster than those priced above the FHA lending limits of $432,500; where non-conforming loans are required. However, we anticipate that changing with the recent announcement of the Home Buyer’s Tax Credit extension and the expansion to include existing homeowners who have owned their homes for five or more years. These homeowners can receive a $6500 tax credit on the purchase of a home. This tax credit expires in April; call a REALTOR today to begin the process,” states Karen Baker, 2010 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 1,550 members and is headquartered in Franklin, Tn.
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