February 8, 2010 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of January 2010. There were 123 residential and condominium closings reported for the month of January, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.
Compared to January of 2009, the single family residential closings increased by three percent and the median price decreased by 14 percent. Compared to 2005, the median home prices have increased by eight percent. The average days on the market (DOM) for residential homes has increased by 9 days. The median is a typical market price where half of the homes sold for more and half sold for less.
January 2010
Closings Median Price Average Price DOM
Residential 110 $312,450 $361,678 104
Condominium 13 $186,500 $165,546 83
January 2009
Closings Median Price Average Price DOM
Residential 107 $365,000 $468,785 95
Condominium 7 $220,000 $172,493 69
January 2008
Closings Median Price Average Price DOM
Residential 145 $395,000 $451,79287 87
Condominium 28 $174,308 $182,13136 36
January 2007
Closings Median Price Average Price DOM
Residential 245 $388,757 $451,49466 66
Condominium 32 $157,965 $185,57335 35
January 2006
Closings Median Price Average Price DOM
Residential 301 $294,000 $358,30552 52
Condominium 24 $181,000 $191,76846 46
“We are encouraged that the market is slowly gaining ground. This is the third month in row that we have seen an increase in the number of transactions over the previous year. Much of our current activity has been driven by first time home buyers who are purchasing less expensive homes than the typical move up or transferee buyer. I don’t expect to see an increase in the median price until at least the middle of the second quarter after the tax incentives expire. Historical trends show that as sales increase, the median sales price goes up as well,” said Karen Baker, 2010 President of the Williamson County Association of REALTORS®.
The Williamson County Association of REALTORS® is the professional trade organization servicing the real estate industry in Williamson County. Established in 1962, the association provides professional development and support services for real estate professionals. The association has over 1,400 members and is headquartered in Franklin, Tn.
If you’re intereste in getting into a Willimson County Home, please call (615) 509-7000 or email me at Josh@JoshAndersonRealEstate.com so that I can send you a list of homes that fit your criteria.