Williamson County Association of REALTORS® Announces September 2010 Sales Statistics
October 7, 2010 (Franklin, TN) - The Williamson County Association of REALTORS® announces the statistics for home sales in Williamson County, TN for the month of September 2010. There were 232 residential and condominium closings reported during this period according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle Tennessee region.
The number of single-family residential closings increased by 5.7% percent compared to September 2009, but decreased by 11% percent compared to August 2010 statistics for the number of homes sold in Williamson County. The average days on the market (DOM) for residential homes decreased by eleven (11) days for residential and increased by twenty-three (23) days for condominiums compared to the same period last year. Residential Inventory of homes listed as active has decreased from 2451 in September of 2009 to 22260 in September 2010.
September 2010
|
|
Closings |
Median Price |
Average Price |
DOM |
|
Residential |
209 |
$ 330,000 |
$ 373,130 |
89 |
|
Condominium |
23 |
$ 202,900 |
$ 206,362 |
96 |
September 2009
|
|
Closings |
Median Price |
Average Price |
DOM |
|
Residential |
197 |
$ 330,000 |
$ 401,708 |
100 |
|
Condominium |
23 |
$ 205,260 |
$ 218,085 |
73 |
September 2008
|
|
Closings |
Median Price |
Average Price |
DOM |
|
Residential |
218 |
$ 348,502 |
$ 387,960 |
88 |
|
Condominium |
25 |
$ 222,175 |
$ 238,447 |
78 |
September 2007
|
|
Closings |
Median Price |
Average Price |
DOM |
|
Residential |
307 |
$ 373,000 |
$ 452,549 |
68 |
|
Condominium |
57 |
$ 199,882 |
$ 214,482 |
49 |
The Williamson County Association of REALTORS® is the professional trade organization serving the real estate industry in Williamson County. Established in 1962, the Association provides professional development and support services for real estate professionals while impacting the surrounding communities through support of local education and community outreach. The Association has over 1,400 members and is headquartered in Franklin, TN.
Other economic indicators such as unemployment rates have also improved for Williamson County. According to the latest statistics, unemployment is currently at 7.0 % in Williamson County as compared to August of 2009 when the unemployment rate was 7.9%. Davidson County currently stands at 9.5% unemployment rate.
Middle Tennessee is also leading the rest of the country as well as other regional areas that compete with middle Tennessee for economic development such as Charlotte, NC and Atlanta, GA. Middle Tennessee has only seen a 3.7% depreciation in the value of homes while Charlotte is looking at a 7.2% decrease and Atlanta a 9.0% decrease. This means that people and businesses looking to relocate will see their property values sustain better value if they relocate to the middle Tennessee area.
Another area that helps to determine the health of the real estate market is the absorption rates. This is the rate at which inventory is moving within that particular market. While we are still considerable down from the numbers of 2006 markets, we are seeing a steady increase in the absorption rates.
September 2010 9.0%
September 2009 8.0%
September 2008 8.6%
September 2007 12%
September 2006 26%
|
September |
|
|
|
|
|
|
|
Closed |
Avg |
Median |
DOM |
Inventory |
New |
Pending |
|
31 |
$ 534,348 |
$ 455,000 |
90 |
480 |
122 |
46 |
|
7 |
$ 151,200 |
$ 137,500 |
120 |
109 |
27 |
6 |
|
103 |
$ 395,621 |
$ 349,900 |
88 |
1049 |
270 |
111 |
|
20 |
$ 319,360 |
$ 308,852 |
82 |
129 |
36 |
28 |
|
32 |
$ 241,250 |
$ 212,366 |
77 |
235 |
78 |
32 |
|
12 |
$ 294,566 |
$ 222,750 |
84 |
131 |
27 |
9 |
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