The total number of closed home sales rose 18 percent in January 2016 in Williamson County, compared to the same period last year, according to the monthly market report released Monday by the Williamson County Association of REALTORS®(WCAR).
“The positive momentum Williamson County’s real estate market experienced last year continued in the first month of 2016,” said David Logan, President of the Board for Williamson County Association of REALTORS®. “Additionally, this marks the county’s seventh consecutive January for increased home sales in the first month of the year.”
The median sales price for a single-family home remained stable with a 2 percent rise over the same period last year. In January 2016, the median sales price for a single-family home was $420,372, compared to $412,090 in 2015. The median sales price for condos in January 2016 was $192,000 versus $297,000, a decrease of 35 percent from January 2015.
Total available residential inventory in Williamson County stood at 1,470 units at the end of January indicating a 4.5-month supply of housing in the area. This marks a decrease from the 5. 5 months’ supply for the same period in 2015, but improved from the 3-month supply from last month.
“Inventory is a key driver in an active market and it appears the housing supply, while the numbers suggest is slightly improved in January, is still on the lower side”, said Logan. “Pent up demand from people who would like to move up or down, but haven’t found the option that best suits their needs is one contributing factor, along with the continuation of local investors choosing real estate as a smart option for financial investment.”Neighborhood Spotlight: Legend’s Ridge