Market maintains momentum, single-family home price remains stable 

BRENTWOOD, Tenn., Feb. 8, 2016 --- The total number of closed home sales rose 18 percent in January 2016 in Williamson County, Tennessee compared to the same period last year, according to the monthly market report released today by the Williamson County Association of REALTORS®(WCAR). 

“The positive momentum Williamson County’s real estate market experienced last year continued in the first month of 2016,” said David Logan, President of the Board for Williamson County Association of REALTORS®. “Additionally, this marks the county’s seventh consecutive January for increased home sales in the first month of the year.” 

The median sales price for a single-family home remained stable with a 2 percent rise over the same period last year. In January 2016, the median sales price for a single-family home was $420,372, compared to $412,090 in 2015. The median sales price for condos in January 2016 was $192,000 versus $297,000, a decrease of 35 percent from January 2015. 

Total available residential inventory in Williamson County stood at 1,470 units at the end of January indicating a 4.5-month supply of housing in the area. This marks a decrease from the 5. 5 months’ supply for the same period in 2015, but improved from the 3-month supply from last month.

“Inventory is a key driver in an active market and it appears the housing supply, while the numbers suggest is slightly improved in January, is still on the lower side”, said Logan. “Pent up demand from people who would like to move up or down, but haven’t found the option that best suits their needs is one contributing factor, along with the continuation of local investors choosing real estate as a smart option for financial investment.”

January 2016

Residential Sales Activity

 

Closings

Median

Inventory

Pending

DOM

Residential

306

$420,372

1,415

310

56

Condos

19

$192,000

55

17

72

Total

325

-

1,470

327

-

Land

13

$75,000

391

21

141

January 2015

Residential Sales Activity

 

Closings

Median

Inventory

Pending

DOM

Residential

250

$412,090

1,463

359

77

Condos

25

$297,000

65

20

63

Total

275

-

1,528

379

-

Land

25

$198,000

478

28

108

With 2,200 members, the Williamson County Association of REALTORS® provides support and services for area real estate professionals and is the leading voice in the community for its members, as well as residential and commercial property owners. REALTOR® is a registered trademark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.

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