(SPECIAL NOTE: Please see information at the end of this news release for updated definitions of terms used)

Williamson County housing statistics remain steady as we move into the third quarter for 2017. In fact, residential single-family home closings year over year were identical at 488 units sold in September of 2017 as well as in September 2016. September 2017 median homes sales dropped to $452,520 from an August price of $469,950. This represents a 3.7% drop from August but is still up 2.7% from this time in 2016. The three cities in Williamson County that top the median sales price are Brentwood at $710,000, Arrington at $639,900 and College Grove at $555,730. We are also watching days on market for Arrington and College Grove, as they have dropped significantly month over month. 

Brentwood has made significant efforts in attracting new developments and amenities for its citizens. “With an already large residential footprint and the development of the new Hill Center, which has approximately 600,000 square feet of office and retail space, along with its proximity to Nashville, Brentwood is an ideal location for people moving into Williamson County. On the other side of the spectrum are cities like Arrington and College Grove, which attract families who might want to be away from the urban core and are places that have increasing accessibilities with the extension of Interstate 840 and the new retail development at Berry Farms,” says Lisa Wurth, President of the Williamson County Association of REALTORS®.

For the month of September, total active inventory for Williamson County dropped slightly from 1,444 in August to 1,418. However, year over year we are up 7% from the same period in 2016. Brentwood had a total of 253, while College Grove had 76 and Arrington 24 units respectively. Overall, inventory remains low, and the median sale prices will continue to stay consistent or rise as long as the population grows and the active demand from home buyers continues.

 

September  2017

Residential Sales Activity

 

Closings

Median

Inventory

Under Contract

DOM

Residential

488

$452,520

1,418

1,162

33

Condos

30

$251,820

49

101

28

Total

518

-

1,467

 

-

Land

28

$254,900

405

93

214

September 2016

Residential Sales Activity

 

Closings

Median

Inventory

Under Contract

DOM

Residential

488

$440,216

1,317

1,241

34

Condos

29

$251,00

58

76

31

Total

517

-

1,375

 

-

Land

16

$320,950

413

55

151

 

#     #     #

RealTracs, Inc., the Regional Multiple Listing Service through which market statistics are assembled and provided, recently adjusted its statistical reporting in order to more accurately reflect market activity. Effective immediately, WCAR reports will be based on the following terms and definitions: 

  • Closings - listed properties that have closed in the month
  • Median Closed Price - the median price of listed properties that have closed in the month
  • Days on Market - the average number of days from the first date available for showing to the Binding Contract Date (of an offer to purchase) for listed properties within a month
  • Under Contract Inventory (formerly pendings) - the total number of properties that are listed, are under contract and have not closed
  • Active Inventory - the total number of listed properties being marketed that are not under contract

Adjustments to historic statistical data have been for all of 2016 and 2017. 

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