There were 474 single family homes sold in September 2015, making 1607 closings total for the quarter in Williamson County. For September that is an 11.8% increase over last year, for the quarter we are up 12.7% compared to the 3rd quarter 2014. And, the numbers year-to-date reflect a very similar pattern. With 3988 closings so far, we are 12.6% ahead of the 3541 closings January-September 2014. Previously, the record number of homes sold through September 30 was 3821 in 2006. At this point it is safe to assume our market has not only recovered, but surpassed the peak. In 2006, there was only 1 month where the median price surpassed $400k, we’ve had 8 months this year.
For the first time since December 2014, our median price for September was below the $400k mark. At $398,553, this is still a 3.3% increase over last year. A decrease in median price is actually good news for consumers. Demand in the mid-year is always higher than the 4th quarter, hopefully the consumer will find less competition and have a chance at landing a great home at a great price in the final months of the year.
Other news going into the 4th quarter is that the new rules for the Consumer Financial Protection Bureau have taken affect. There’s been lots of hype about this process, but in the long run, I think it is great for the consumer. It will add 10-15 days to the closing time frame for financing buyers, but it shouldn’t affect their ability to get a home.
Back to September numbers, Fairview once again showed the largest percentage of median price increase, up 38% over September 2014. Again, as 840 has been completed and land is developed, Fairview is the next area for available growth in Williamson County. Thompson’s Station also saw a large increase in median price, $327,000 is up 26% over last year’s $259,400.
The condo market saw a drastic increase as well. Closed volume was up 105%, and the median price increase from $182,500 to $234,900. There were 16 land closings at a median price of $207,652.
For more information on market statistics and what they mean to you, please give us a call.