Leading Conversations on Property Vacancy, Abandonment
August 2020
BRENTWOOD, Tenn., July 7, 2016 --- Williamson County median sales price for a single-family home once again hit an all-time high in June 2016, according to the monthly market report released today by the Williamson County Association of REALTORS®. The median sales price rose 12.7 percent to $459,000 in June 2016 from the same period last year.
The number of homes closed in June 2016 was 545, a decrease of 13 percent as compared with June 2015, when the number of closings was 624.
“While there still is a pent-up demand for homes and attractive interest rates, the continued lack of inventory combined with rising prices, may result in a slowing of sales as we move through the summer months,” according to David Logan, President of the Williamson County Association of REALTORS®.
“Much of the current unsold inventory is in a price range above $600,000, while the current pending and closed properties are at the $460,000 price range," added Logan.
Total available residential inventory stood at 1,742 units at the end of June 2016.
“While the numbers show a 3-month supply, approximately one-third of those are already under contract, thereby leaving only a 2-month supply for potential buyers to actually consider for purchase,” said Logan. “With all-time high prices and a record low inventory in Williamson County this creates a ‘perfect storm’ for sellers. Anyone considering selling their home should take advantage of these unusual market conditions.”
|
June 2015 Residential Sales Activity |
|||||
|
|
Closings |
Median |
Inventory |
Pending |
DOM |
|
Residential |
624 |
$407,000 |
1,807 |
628 |
61 |
|
Condos |
43 |
$208,075 |
99 |
46 |
45 |
|
Total |
667 |
-- |
1,917 |
674 |
-- |
|
Land |
25 |
230,000 |
443 |
23 |
191 |
|
June 2016 Residential Sales Activity |
|||||
|
|
Closings |
Median |
Inventory |
Pending |
DOM |
|
Residential |
545 |
$459,000 |
1,742 |
649 |
62 |
|
Condos |
49 |
$210,000 |
79 |
46 |
49 |
|
Total |
594 |
-- |
1,821 |
695 |
-- |
|
Land |
10 |
$245,000 |
400 |
16 |
197 |
With 2,200 members, 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
