Williamson County Real Estate Report for April 2014

Here is a quick look at how April turned out for Real Estate in the Middle Tennessee area.

  • Williamson County currently has a 4.9 month inventory supply and the average sales price increased by 12.1% year to date from last year.
  • Davidson County currently has a 4.3 month inventory supply and the average sales price increased by 11.4% year to date from last year.
  • Rutherford County currently has a 4.2 month inventory supply and the average sales price increased by 8.6% year to date from last year.
  • Sumner County currently has a 5.3 month inventory supply and the average sales price increased by 12.1% year to date from last year.
  • Wilson County currently has a 4.8 month inventory supply and the average sales price increased by 17.6% year to date from last year.

Williamson County in Tennessee has seen a general increase in real estate and a rise in home sales prices for April from last year to this year.

For the month of April 2014 as compared to April 2013 there has been an decrease of 5.9% in units sold, an increase of 7.8% in the homes average sales price, and a decrease by -10 days on market.  Accordingly there is a 4.9 month supply of inventory in Williamson county as a whole, putting it back in a seller’s market (6 months = balanced market).

If you break the numbers down per city they vary somewhat.

Brentwood, TN  sold less homes in April 2014 than April 2013 with a 10.0% decline (better than February’s 13%), however the homes average sales price did increase 9.5% to $673,616 and the days on market decreased by 19 days to an average of 73 days on market.  Brentwood, TN real estate currently has 5.5 months of inventory available for sale.

Franklin, TN (excluding the Cool Springs area), like Brentwood, closed 9.1% less units in April 2014 than April 2013, and the homes average sales price increased by 10.8% to $449,914, and the days on market decreased by 22 days to an average of only 49 days on market.  Franklin, TN real estate currently has 4.5  months of inventory available for sale.

Franklin/Cool Springs area (zip code 37067) had 22% less homes close in April 2014 to April 2013 and had a huge increase in the homes average sales price of 14.5% to $466,252 and like the other areas had a decrease in days on market by 25 days..  The Cool Springs area of Franklin only has 3.7  months of inventory available for sale.

Nolensville, TN has some interesting numbers for February 2014.  The number of homes sold in April 2014 vs April 2013, unlike the other areas, went up by 14.3%, however the average sales price dropped by 4.2% to $351,544 and the average days on market decreased by 7 days.  There is only 3.7 months of inventory available for sale in Nolensville, TN.

Thompsons Station, TN unlike the large growth in the first quarter, the number of homes sold in April 2014 vs April 2013  dropped by 32.4%, and the average sales price increased by 10.3% to $351,544 and the average days on market decreased by 8 days.  There is 6.3 months of inventory available for sale in Thompsons Station putting it back into a transitional market.

Spring Hill, TN sales increased in April 2014 as compared to April 2013 with 14.3% more homes sold, with the average sales price up 10.7% to $289,492 and the days on market up by 4 days.  Spring Hill is still in a seller’s market with only 4.3 months of inventory available for sale.

Last but not least, Fairview TN once again had huge results for April 2014.  Fairview TN saw an increase in homes sold by 13.3% and an increase in the homes average sales price by 28.7% up to $208,048, however the days on market are up by 9 days as compared to April 2013.  Fairview currently has 5.3 months of inventory available for sale.

The months of inventory within Williamson county goes up as the prices go up.  For homes under $200,000 there is 2.1 months of inventory, for homes under $300,000 there are 3.5 months of inventory, for homes under $400,000 there are 4.1 months of inventory, homes priced between $400,000 – $600,000 has 3.7 months of inventory.  Homes listed over $600,000 shift back to a balanced market with 7.3 months of inventory for homes priced from $600,000 – $800,000.  Homes priced over $800,000 are still in a buyer’s market with 10.4 months of inventory for homes priced $800,000 – $1million.

Click here to view all the statistic numbers for Williamson county by city and price range.

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