Leading Conversations on Property Vacancy, Abandonment
August 2020
(SPECIAL NOTE: Please see information at the end of this news release for updated definitions of terms used)
Williamson County home sales maintained a steady pace in June and increased for the fourth consecutive month this year, while facing continued low inventory levels that slowed year-over-year growth by 3.3 percent, according to Lisa Wurth, 2017 President of the Williamson County Association of REALTORS® (WCAR).
There were 583 total home closings in Williamson County in June 2017, including 542 single-family residences and 41 condominiums. That compares with 603 total closings, of which 553 were single-family homes and 50 condos, in June 2016.
Properties typically stayed on the market for 28 days in June, which is down from 32 days last month and 34 days a year ago.
On a year-to-date basis, home sales are relatively unchanged from last year. There were 2,716 total home closings in Williamson County through June 2017 compared to 2,718 for the same period in 2016.
The median closed price for a single-family home was $459,775 in June 2017 versus $459,900 for the same period last year, and declined 3.2 percent from last month’s all-time record high closed price of $474,733. This June also marked 16 consecutive months the median closed price for a single-family home in Williamson County was above $400,000.
“Williamson County’s housing market remains robust, yet there are still challenges,” said Wurth. “We had a fairly significant increase in sales from month-to-month and the year-to-date figures are steady and consistent. However, the active market makes competition high among potential buyers. While strong interest and demand in our community remains exceedingly high, homes are selling faster than ever as evidenced by the number of days a home is on the market falling to under a month.”
|
May 2017 Residential Sales Activity |
|||||
|
|
Closings |
Median |
Inventory |
Under Contract |
DOM |
|
Residential |
0,905 |
$474,733 |
1,306 |
580 |
32 |
|
Condos |
38 |
$245,950 |
55 |
48 |
13 |
|
Total |
555 |
- |
1,361 |
628 |
- |
|
Land |
29 |
$220,000 |
393 |
32 |
122 |
|
May 2016 Residential Sales Activity |
|||||
|
|
Closings |
Median |
Inventory |
Under Contract |
DOM |
|
Residential |
509 |
$430,905 |
1,363 |
568 |
40 |
|
Condos |
44 |
$230,000 |
55 |
51 |
20 |
|
Total |
553 |
- |
1,418 |
619 |
- |
|
Land |
33 |
$250,000 |
393 |
25 |
108 |
Total active inventory in Williamson County in June stood at 1,425 units, which remained unchanged from the same period last year.
For the month of June, single-family home active inventory decreased less than one percent from 1,379 in 2016 to 1,371 listed homes in 2017. Condominium active inventory increased, 17 percent from 46 in 2016 to 54 listed condos in 2017.
There are currently 1,553 properties under contract in Williamson County (formerly “pendings”), an increase of 8.4 percent from the 1,432 properties under contract for June 2016. Of the total properties under contract for June 2017, 1,450 are single-family residences and 103 are condos, compared to 1,340 single-family residences and 92 condos in June 2016.
“With lack of inventory in Williamson County remaining the biggest challenge to would-be home buyers, working with a professional REALTOR® familiar with the community and looking out for your interests will increase your chances of finding the perfect home,” added Wurth. “Would-be sellers that have their homes market ready are seeing great returns in this market. Consulting with a professional REALTOR® ensures that both buyers and sellers have a professional who is looking out for their interest during the home buying and selling process.”
“WCAR and its leadership takes the role of the REALTOR® within the community seriously and meets regularly with community and state leaders to discuss how the real estate community can actively contribute to the growth and progress of Williamson County,” noted Wurth. “After recent meetings with local elected officials, state legislators and Williamson County Schools leaders, there is incredible confidence in market sustainability in Williamson County due to the quality of life offered, the continually improving job market and the top-notch schools that our county offers.”
With 2,400 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.
# # #
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:
Adjustments to historic statistical data have been for all of 2016 and 2017.
July 2020
