Williamson County Homes Sales Stay Consistent, Three Cities Top Median Sales Price

October 2017
Press Releases

(SPECIAL NOTE: Please see information at the end of this news release for updated definitions of terms used)

Williamson County housing statistics remain steady as we move into the third quarter for 2017. In fact, residential single-family home closings year over year were identical at 488 units sold in September of 2017 as well as in September 2016. September 2017 median homes sales dropped to $452,520 from an August price of $469,950. This represents a 3.7% drop from August but is still up 2.7% from this time in 2016. The three cities in Williamson County that top the median sales price are Brentwood at $710,000, Arrington at $639,900 and College Grove at $555,730. We are also watching days on market for Arrington and College Grove, as they have dropped significantly month over month.

Brentwood has made significant efforts in attracting new developments and amenities for its citizens. “With an already large residential footprint and the development of the new Hill Center, which has approximately 600,000 square feet of office and retail space, along with its proximity to Nashville, Brentwood is an ideal location for people moving into Williamson County. On the other side of the spectrum are cities like Arrington and College Grove, which attract families who might want to be away from the urban core and are places that have increasing accessibilities with the extension of Interstate 840 and the new retail development at Berry Farms,” says Lisa Wurth, President of the Williamson County Association of REALTORS®.

For the month of September, total active inventory for Williamson County dropped slightly from 1,444 in August to 1,418. However, year over year we are up 7% from the same period in 2016. Brentwood had a total of 253, while College Grove had 76 and Arrington 24 units respectively. Overall, inventory remains low, and the median sale prices will continue to stay consistent or rise as long as the population grows and the active demand from home buyers continues.

September 2017 Residential Sales Activity
	Closings	Median	Inventory	Under Contract	DOM
Residential	488	$452,520	1,418	1,162	33
Condos	30	$251,820	49	101	28
Total	518	-	1,467		-
Land	28	$254,900	405	93	214

September 2016 Residential Sales Activity
	Closings	Median	Inventory	Under Contract	DOM
Residential	488	$440,216	1,317	1,241	34
Condos	29	$251,00	58	76	31
Total	517	-	1,375		-
Land	16	$320,950	413	55	151

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RealTracs, Inc., the Regional Multiple Listing Service through which market statistics are assembled and provided, recently adjusted its statistical reporting in order to more accurately reflect market activity. Effective immediately, WCAR reports will be based on the following terms and definitions:

Closings - listed properties that have closed in the month
Median Closed Price - the median price of listed properties that have closed in the month
Days on Market - the average number of days from the first date available for showing to the Binding Contract Date (of an offer to purchase) for listed properties within a month
Under Contract Inventory (formerly pendings) - the total number of properties that are listed, are under contract and have not closed
Active Inventory - the total number of listed properties being marketed that are not under contract

Adjustments to historic statistical data have been for all of 2016 and 2017.