January was the hottest on record in the Williamson County housing market.
Total home closings in Williamson County increased by two percent in January 2017 to the highest number on record in the first month of a year, according to the monthly market report released today by the Williamson County Association of REALTORS. The total number of closed home sales increased to 332 for the month compared to 325 in January 2016.
“The residential real estate market in Williamson County is showing no signs of slowing down as we move into 2017, Lisa Wurth, President of the Williamson County Association of REALTORS, said. “In fact, this month set a new record for January in both number of homes sold and median sales price. While the increase is small it is significant that we are on pace with the best year for home sales in the last decade.”
The median sales price for a single-family home in January 2017 increased six percent to $445,627 from $420,372 for the same period last year, which was previously the record. January also marked the eleventh consecutive month the median sales price for a single-family home surpassed $400,000.
“Buyers are continuing to seek out whatever opportunities that become available. The homes that are market ready and priced correctly continue to sell promptly,” Wurth said. “The market’s positive growth and desirability is due to buyers wanting to experience the area’s school systems, safety ratings and overall quality of life.”
Total available residential inventory in Williamson County stood at 1,303 units at the end of January indicating a four-month supply of housing in the area.
“Inventory is below what would be termed a balanced market,” said Wurth. “Many potential buyers are looking forward to spring when more options are likely to be available.”