Market Trends are gathered from the Williamson County Association of Realtors in Williamson County, Tennessee
Market operating at a sustained higher, healthier level than five years ago
BRENTWOOD, Tenn., May 8, 2017 —
Williamson County home sales maintained momentum in April with homes moving off the market at a significantly faster pace than a year ago and the median sales price setting another monthly record high, according to the market report released by the Williamson County Association of REALTORS® (WCAR).
The 471 total home closings in Williamson County in April 2017 were on pace with the previous year’s 474 closings in April 2016. However, residential closings this year happened at a much faster pace with single-family homes selling on average in 49 days, which is down significantly from an average of 67 days a year ago.
On a year-to-date basis, home sales are 2.8 percent ahead of last year with 1,569 total home closings in Williamson County through April 2017 compared to 1,527 for the same period last year.
The median sales price for a single-family home increased 4.2 percent to $451,100 in April 2017 and broke the previous monthly record high of $433,000 set last year. April also marked 14 consecutive months the median sales price for a single-family home in Williamson County was above $400,000.
“As pointed out at the recent economic summit, Williamson County remains a highly desirable location – especially for potential buyers seeking to make their home here,” said Lisa Wurth, President of the Williamson County Association of REALTORS®. “The challenge for buyers remains the declining inventory levels and the competition between each other for listings in the more affordable price range, while the good news for sellers is that most are seeing a nice return on investment of market-ready homes.”