|July 2008 Home Sales|
|August 8, 2008 (Franklin, TN)-The Williamson County Association of REALTORS® today announces the sale of homes statistics for Williamson County, Tn. for the month of July. There were 342 residential and condominium closings reported for the month, according to figures provided by RealTracs Solutions, the multiple listing service used by REALTORS® in the Middle-Tennessee area.
Compared to July of 2007, the residential home closings decreased 28 percent and the median price for residential homes decreased by 6 percent. Days on the market (DOM) for residential homes increased by 11 as compared to July 2007. Condominium closings decreased by 23 percent. The median prices for condominiums decreased by 2 percent and days on the market increased by 10 days compared to July 2007.
"The National Association of REALTORS reports that Nationwide in the second quarter of 2008 median home prices declined 16.3%, our market is significantly stronger with median prices holding firm and days on the market increasing, but still below the National averages. With the approval of the Housing Stimulus Bill by the Federal Government, we anticipate many buyers feeling more comfortable and secure in their purchasing decisions. Our market has been consistent throughout 2008, with median prices for single family homes ranging from $345,000 - $395,000," stated Kathie Moore, 2008 President of WCAR.