Where Are Home Prices Highest In Williamson Co?

Williamson Houses

If you had a house to sell in Williamson County, March was your month. And 2016 is your year. Well, really, this is your millennium. Williamson County housing is among the hottest markets in the country.

The median sale price of a house on the market in Williamson County reached its highest point ever in March. And in terms of sheer volume sold, the housing market has not been this hot since 2006, before the collapse of the real estate market and the subsequent zig-zagged years of off and on recession.

According to the Williamson County Association of Realtors, the market is soaring in price as demand is outstripping supply. Here is a look at how Williamson County stacks up against the rest of the country.

 

Prices Around Williamson County

HousingPricesAroundWillCo

Houses are moving off the market quickly all around the county. But, with an average on-the-market span of 54 days, houses are selling the quickest in Thompson’s Station. Nolensville (55 days) and Spring Hill (56 days) round out the three quickest locations. Houses in Franklin average 62 days on the market, and 63 days in Brentwood. In Fairview, however, houses take more than two extra weeks to be sold, averaging 78 days.

In an interesting twist of counter-intuition, the place where houses take the longest to sell in the county also has the lowest median price tags, at $215,000.

Houses in Brentwood, which at $624,000 have the highest median sale price, almost triple the cost of a house in Fairview.

Franklin is the second highest, at $442,000; Nolensville third with $400,000; then Thompson’s Station at $329,000 and Spring Hill at $287,000.

In the first quarter of 2016 the market for single-family homes was up 10.3 percent from last year, with 1,053 closings compared to 955 in 2015 to this date.

March came close to accounting for half of those sales, with 448 closings.

“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,” David Logan, President of the Board for Williamson County Association of REALTORS, said on their Website.“The latest residential real estate activity confirms that Williamson County remains one of the most desirable communities in the state among homebuyers.”

Current inventory of houses on the market is 1,703 houses. If demand stays this high they will all be sold within four months. A balanced market is considered one with a six month supply.

“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,” added Susan Gregory, broker with Parks Realty in Brentwood.

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