We are once again seeing record highs in home closings and median price! In addition to the 7.8% year-over-year closings increase, median price continues to climb. The $415,000 median price for July 2015 is up 3.8% from 2014. This signals the eighth month in a row where the median price has exceeded $400,000 for Williamson County.
There were 566 residential closings, with a median price of $415,000. The current market inventory is 1799, with an additional 567 pending transactions. The average days on market is 58. The condo market remains strong as well. There were 38 condo closings, with a median price of $221,000. The inventory is 94, with 44 pending and an average of 43 days on market.
Breaking the county’s market down by city:
Brentwood: 89 closings, $574,900 median price, 358 inventory, 67 days on market
Fairview: 24 closings, $222,283 median price, 67 inventory, 82 days on market
Franklin: 238 closings, $443,678 median price, 717 inventory, 60 days on market
Nolensville: 43 closings, $395,900 median price, 157 inventory, 40 days on market
Spring Hill: 90 closings, $274,450 median price, 187 inventory, 56 days on market
Thompsons Station: 61 closings, $330,225 median price, 194 inventory, 42 days on market
Looking around the Region:
Williamson County: 566 closed, $415,000 median price
Davidson: 1017 closed, $232,321 median price
Rutherford: 603 closed, $195,000 median price
Wilson: 269 closed, $246,000 median price
Maury: 178 closed, $187,200 median price.
As inventory is lower than it has been in years, demand is high with companies relocating to the MidState, prices will continue to rise. The buyer needs an advocate in this market to ensure they can get a desirable property at a fair price. The seller needs an advocate to market their property well, navigate the process with many potential buyers, and get their home closed. We’d be honored to help you in the process!