Buyers willing to pay steadily increasing prices to call Williamson County home

Total home closings in Williamson County rose 14.7 percent in November 2016 to the strongest in decade, according to the monthly market report released today by the Williamson County Association of REALTORS® (WCAR).  The total number of closed home sales were 399 for the month compared to 348 in November 2015.

The median sales price for a single-family home increased 7.6 percent to $443,507 in November 2016, compared to $412,176 for the same period last year.  November marked the ninth consecutive month the median sales price for a single-family home surpassed $400,000. 

Year-to-date total home sales in Williamson County are 5,228, an increase of 3.5 percent over the 5,051 closings for the same period last year.

“With home sales for the month of November rising to the strongest in a decade, it is expected the housing market in Williamson County will continue at a solid pace through the end of the year and into 2017,” said Lisa Wurth, President of the Williamson County Association of REALTORS®. “Sellers continue to see a good financial return on their homes as evidenced by steadily rising sales prices. Potential home buyers remain keenly interested in making their home in Williamson County.”

“Williamson County embodies the characteristics that make a community truly great: excellent schools, safe neighborhoods and a growing economy,” added Wurth.  “Buyers are willing to act quickly and decisively when they find the home that works for them.

“This is a very busy season for everyone and there seems to be an assumption that buyers delay their home searches during December. While that may be true for some, it helps to keep in mind that those who do continue their search at this time of year are very serious buyers intending on making a purchase if they can find the right property.”

November 2016

Home Sales Activity

 

Closings

Median

Inventory

Pending

DOM

Residential

366

$443,507

1,438

360

50

Condos

33

$220,671

77

33

38

Total

399

-

1,515

393

-

Land

24

$222,537

421

23

170

 

November 2015

Home Sales Activity

 

Closings

Median

Inventory

Pending

DOM

Residential

321

$412,176

1,711

357

52

Condos

27

$222,500

78

34

40

Total

348

-

1,789

391

-

Land

17

$199,000

469

21

102

Total available residential inventory in Williamson County stood at 1,515 units at the end of November, indicating slightly more than a three-month supply of available homes. A six-month supply is considered a balanced market.

For the month of November, available inventory declined for single-family homes while condominium inventory remained virtually unchanged.  Single-family home inventory declined 19 percent from 1,711 in 2015 to 1,438 listed homes in 2016, while condominium inventory declined one percent from 78 in 2015 to 77 listings in 2016.

“The biggest challenge for home buyers continues to be limited inventory,” added Wurth.  “Through the end of the year, potential buyers will likely continue to experience a very active and competitive market as demand for homeownership in Williamson County is expected to remain robust.”

With more than 2,400 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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