Williamson County, TN Market Information June 2009

By
Real Estate Agent with Benchmark Realty

Dear Friends,

Welcome Summer!  Have you been out to the Lake or having picnics in parks?  Aren't we so excited to have a break from the rain?  As the grass dries up.  Oh, well.  We have been enjoying riding our motorcycle.  We are grateful school is out.  

I am working up some different statistics for you this month.  These numbers are for Williamson County.  I broke them down by price ranges.  These are current numbers as of July 3, 2009.  The active listings are those that are for sale.  Currently, except for the highest price point, up to 5-10% of them have contracts on them that are being worked through.  Pending means that the houses are expected to close.  Some of them are new construction and may not close in the traditional 30 day contract to closing period. 
A couple of interesting points.

  1. The pendings are about the same as the closed.  Stability - for now.
  2. The closed numbers are higher than they have been this year.  It is high season, and it is good to see that houses are selling.
The absorption rate, which I have out to the side, shows us the amount of inventory we have for  that period of time. It is based on the number of closings, and the number of active listings at that time. We always have a certain number of months worth of inventory on the market.  Under 6 months is a Seller's Market, over 6 month's is a Buyer's Market.  These numbers change depending on how narrow or broad your search criteria is.  We usually look at several months so it can truly change daily, but it is an interesting statistic to watch.
Williamson County
Statistics for the Month of June 2009, as of July 3, 2009
 
Total     Absorption Rates
Active 2607   10 Months
Pending 270    
Closed 260    

Up to $300K      
Active 683   7.5 Months
Pending 89    
Closed 90    

$300K - $500K      
Active 879   9.2 Months
Pending 105    
Closed 95    

$500K - $800K      
Active 585   9.5 Months
Pending 55    
Closed 61    

$800K and Higher      
Active 467   21 Months
Pending 21    
Closed 21    

If you want to see the Greater Nashville numbers, click here to see their latest press release.  This link will update when they have new stats available.

Fun Fact:
Alan Jackson's house is for sale.  Do you want to peak? click here

Call or email me if you need information about my listings or for  a market analysis of your neighborhood.   Have a great week!


Monica


Monica Neubauer, Broker

Keller Williams Realty
9175 Carothers Parkway
Franklin, TN 37067
615-568-8384 Cell
615-690-8936 Fax
www.RealEstateTennessee.com

Accredited Buyer Representative (ABR)
Senior Real Estate Specialist (SRES)
Certified Residential Specialist (CRS)
Green

Posted by
This posting and the contents written here are the intellectual property and opinions of Monica Neubauer. Monica is a Realtor with Benchmark Realty in Brentwood, TN. She provides real estate services to clients in the Nashville area, including Nashville, Franklin, Brentwood, Spring Hills, Thompsons Station,  and other areas in the Middle Tennessee Region. You can contact her by calling 615-568-8384 or visit www.FranklinTNBlog.com .

Comments (4)

Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Monica: Thanks for the market update - nice to see what's going on there!

:)

Jul 06, 2009 07:32 AM
Diane Osowiecki
Diane O and Friends - Benchmark Realty - Franklin, TN
Greater Nashville Real Estate

Great job with the stats.

Jul 06, 2009 08:08 AM
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Monica - great post. I doubt if most people know how close we are to a balanced market here in Franklin. I suspect that by the end of July, we will have less than 6 months supply of homes under $400,000.

Jul 07, 2009 01:19 PM
Monica Neubauer
Benchmark Realty - Franklin, TN
Franklin, TN - Realtor, Trainer

Thanks for the input.  I am eager to see where we go from here. 

Jul 08, 2009 01:31 PM