Brentwood TN Real Estate
January 2008 Closings Median Price Average Price DOM
Residential 145 $395,000 $451,792 87
Condominium 28 $174,308 $182,131 36
January 2007 Closings Median Price Average Price DOM
Residential 245 $388,757 $451,494 66
Condominium 32 $157,965 $185,573 35
January 2006 Closings Median Price Average Price DOM
Residential 301 $294,000 $358,305 52
Condominium 24 $181,000 $191,768 46
*Figures Courtesy of WCAR*
To break it down, first it says that closings are down approx. 40% for residential transactions from January 2006 to January 2007. However, the median price has risen, where the average selling price is about the same(slightly higher) with days on the market 30% longer. The condo market has increased significantly in median price, but gone down a bit in average price and days on the market are about the same.
What this essentialy means is that although the market is "in turmoil" ,Williamson County remains viable. Homes are taking longer to sell but are selling, I predict that we will see an increase as consumers realize that this is a great time to buy and that investing in real estate in Williamson County, Brentwood TN or Franklin TN is still the best bet around!