Leading Conversations on Property Vacancy, Abandonment
August 2020
Brentwood, Tennessee – Home values are up as evidenced by the $412,000 median sales price of Williamson County homes in November 2015. This represents a 6.25% increase over last November’s median price, according to data from the Williamson County Association of REALTORS® (WCAR).
“As 2015 comes to a close what we’ve experienced in Williamson County real estate is a market that has seen highest sales volume since 2006 and the highest sales prices ever’, said David Logan, WCAR President. “The increase in inventory over last year bodes well for buyers looking to find a home before year end.”
| Closings | Median price | Inventory | Pending | DOM | |
|---|---|---|---|---|---|
| Residential | 321 | $412,176 | 1,711 | 357 | 52 |
| Condos | 27 | $222,500 | 78 | 34 | 40 |
| Total | 348 | 1,789 | 391 | ||
| Land | 17 | $199,000 | 469 | 21 | 102 |
The November median price marks 11 months of the past 12 months where median prices exceeded $400,000.
| 2014 | 2015 | |
|---|---|---|
| January | $409,242 | $412,090 |
| February | $379,323 | $402,655 |
| March | $395,000 | $409,691 |
| April | $380,000 | $425,000 |
| May | $399,950 | $409,999 |
| June | $409,065 | $407,000 |
| July | $399,900 | $415,000 |
| August | $380,000 | $415,000 |
| September | $385,750 | $398,553 |
| October | $408,000 | $422,000 |
| November | $387,930 | $412,176 |
The 321 closings in the month of November were 10.5% lower than the 359 closings in the prior year. However, overall closings year-to-date in 2015 are 2.5% higher than in the first 11 months of 2014.
“New federal regulations in October coupled with normal seasonality of the market most likely contributed to the reduction in the number of closings”, said Logan. “Both buyers and sellers should be encouraged by the continued stability and appeal of the local real estate market.”
The Williamson County Association of REALTORS® provides support and services for area real estate professionals and is the leading voice in the community for its members, as well as residential and commercial property owners. REALTOR® is a registered trademark which may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict Code of Ethics.
July 2020
