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

Summer is in full swing in Williamson County. The temperatures have been mild for this time of year, but not the median residential sales price, which during the beginning of the third quarter has started out hot as single-family homes experienced the highest median sales price year-to-date at $489,900. This marks the 5th consecutive month a residential median sales price exceeded $450,000. This stat indicates that Williamson County continues to be a popular choice for home buyers, who are attracted to the area for its ever-growing offerings.

 
"We are seeing exciting things happen in Williamson County, from the recent Tennessee Titans training camp practice that drew more than 6000 fans to Centennial High School to the upcoming Pilgrimage Music Festival in September at the Park at Harlinsdale Farm in Franklin. Williamson County is a vibrant and creative community that embraces its citizens which attract others from outside the area to call Williamson County home," said Lisa Wurth, President of the Williamson County Association of REALTORS® .

On a month-to-month basis, closings were up 10.5% to a total of  644, including 605 single-family residences and 39 condominiums, compared with 583 total closings, of which 542 were single-family homes and 41 condos, in June 2017. Year-to-date total closings through July 2017 were 3376, which were just slightly more compared to this period last year that had 3358 closings. Properties typically stayed on the market for 37 days in July, which is up from 28 days last month and 30 days a year ago.

July proved to be a peak month for single-family residential homes to hit the market with an inventory of 1,428 homes—the most available per month this year. "Even though inventory numbers are a bit higher, we still need more inventory in this ongoing competitive market," Wurth reiterated, "especially with the county population expected to grow 154% by 2040 based on numbers from Williamson, Inc."

 

July  2017

Residential Sales Activity

 

Closings

Median

Inventory

Under Contract

DOM

Residential

605

$489,900

1428

1,372

37

Condos

39

$217,00

56

92

47

Total

644

-

1,484

1,464

-

Land

21

$225,000

393

95

167

July 2016

Residential Sales Activity

 

Closings

Median

Inventory

Under Contract

DOM

Residential

588

$450,720

1,353

1,355

30

Condos

43

$204,500

48

72

23

Total

631

-

1,401

1,427

-

Land

18

$151,000

398

53

18

With approximately 2,500 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.

#     #     #

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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