Last month's issue of “Monthly Market Stats” from Williamson County was cause for optimism and I'm more than ready to share some good real-estate news with my clients and friends. I understand that not everyone derives the same pleasure from pouring over these statistics as I do. And yes, I also understand that this makes me a bit of a realtor geek. But, I'm happy to analyze the minutiae of current market statistics and trends and I’m even more happy to share them with you. It's a good news/good news scenario for my clients selling homes in Williamson County!
Drum roll, please… the number of single family residential closings in Williamson County increased by 44% compared to a year ago! It’s the highest increase we’ve seen since 2007. We're cautiously optimistic and hope this trend will continue. And although the average sales price decreased slightly (approximately $8,000), the number of days on the market also decreased compared to last August. Recently, I listed several homes and was prepared for them to take time to sell. However, they sold more quickly than I or the sellers could have predicted! It's always been true, but is even more so today… houses that are “market ready,” staged and accurately priced are selling faster than they have in the past several months.
Franklin beat Brentwood in the number of single family closings last month by almost 100 homes, although Brentwood had a higher median sale price and about ten fewer days on the market than Franklin. Our friends selling homes in Fairview, Nolensville, Spring Hill and Thompsons Station are seeing improvements, too. Infact, Nolensville reported the fewest days on the market of all six Williamson County towns. Overall, Williamson Countyc ame out on top of median home prices, beating Davidson Countyby $182,000.
One of the biggest trends we’re seeing is significant improvements in the number of condo sales and a large decrease in days on the market for condominiums. Last year,condos averaged 142 days on the market. This year, we sliced that number to 75.
Across the board, inventory levels are dropping and if you're selling a home, this is good news. If you're a buyer, it's slightly less so. Many buyers are looking for homes and not finding exactly what they want. If you're thinking about selling, now is the time to list your home. If you're looking for a home, contact me today. I have access to homes that will be coming available soon, but aren't currently on the market.
I hope to be able to continue reporting this positive trend in Williamson County, which continues to be a leader in market activity and price point compared to other local and national markets. Happy home-buying (or selling)!