The Williamson County Association of Realtors (WCAR) reports that residential home sales in March surged to their highest level in a decade. Last month, 448 home sales closed compared to 425 in March of 2015. For more information about purchasing a home, click here to contact Susan Gregory with Parks Realty
“While the spring typically kicks off the robust selling season for residential real estate, the aggressive sales activity in March is the strongest we’ve seen since 2006,” says David Logan, President of the Board for Williamson County Association of REALTORS®. “The latest residential real estate activity confirms that Williamson County remains one of the most desirable communities in the state among homebuyers.”
Home sales rose quarterly as well. January through March, home sales were up 10.3 percent to 1,053 closings, compared to 955 closings during the first quarter of 2015.“Williamson County is ranked among the wealthiest counties in the country and the schools are the best in the state. So, with Nashville being the new ‘it’ town, there is only going to be a huge surge in home sales,” adds broker Susan Gregory with Parks Realty in Brentwood.
“Williamson County also has the highest percentage of job growth from September 2014 to September 2015 compared to other large counties in the nation, according to the U.S. Department of Labor,” says Gregory.
Home owners who are considering selling will be happy to learn that the median sales price rose 5.9 percent from the same time period last year. In March 2016 the median sales price for a single-family home in was $433,850, compared to $409,691 in 2015.
“Statistics show that the home surge will continue to be strong for several years…either staying on the same steady level or increasing. It is a great time to sell because inventory is low,” notes Gregory.
“Builders are scrambling for land and home sites in Williamson County, so it is definitely a seller’s market. Buyers are getting into multiple offer situations and are losing out on homes because of all of the growth in Middle Tennessee with more and more people moving into our area. Buyers need to be prepared that they might be in a multiple offer situation.”
According to Gregory, the Nashville market won’t be slowing down anytime soon. “The Nashville and surrounding markets have been strong for the last 21 years that I’ve been in real estate, with the exception of a few slow years. But the Nashville market — and surrounding counties — has always managed to continue to be active and sell homes even during the during the down-turn. Nashville remains in its own bubble when compared to other markets on a National level,” she notes.
“I think the market will only continue to increase and if you are thinking of buying, you should buy sooner than later. If you are thinking of selling, you are competing with a lot of new construction and your home will need to be in tip top shape, maybe some updating needed especially if you expect top dollar for your home.”
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