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October 2015 Sales Stats

As we enter the fourth quarter and the traditional “slow season” for real estate, the Williamson County Market remained strong. This is the 10th month out of the past 11 that the median sales price topped $400,000. The median sales price of $422,000 was 3.4% higher than the 2014 October median price, and the highest median price for October since at least 2005. It was the second highest median price this year, following April’s $425,000. That’s a strong statistic, as national numbers usually show about a 3% decline in October median prices. October saw 379 residential closings, which was a 6.7% increase over last year.

Realtors are still cautious about the market, as the National Association of Realtors shows a decline in first-time home buyers. Several factors play a role in that, but rising rents and home prices are inhibiting their ability to save. Furthermore, the extremely limited inventory in the first time home buyer price range is a concern.

Taking a closer look at the October Numbers:

………………………..CLOSINGS      MEDIAN PRICE    INVENTORY    PENDING

RESIDENTIAL             379                 $422,000                  1721                    362

CONDO                        39                   $196,175                     90                        35

LAND                            18                   $275,000                   490                       21

BRENTWOOD              53                   $603,000                   296                     47

FAIRVIEW                   13                     $185,000                   62                        19

FRANKLIN                  177                    $465,000                  719                     158

NOLENSVILLE           30                     $411,683                  146                      36

SPRING HILL             53                      $295,000                 185                     47

TH. STA.                       30                      $258,803                 192                     38

Again, all solid numbers for Williamson County. And, looking around the mid-state, the numbers in the surrounding counties remain strong as well. A great economy, continuing good press about our area, and more employers moving in will continue to drive a solid market.

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