Williamson County Real Estate Report for February 2014

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

For the month of February 2014 as compared to February 2013 there has been an increase of 2.1% in units sold, an increase of 3.4% in the homes average sales price, and a decrease of -6 days on market.  Accordingly there is a 4.0 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 actually sold less homes in February 2014 than February 2013 with a 13.0% decline, however the homes average sales price did increase 6.5% to $695,849 and the days on market decreased by 10 days.  Brentwood, TN real estate currently has 4.1 months of inventory available for sale.

Franklin, TN (excluding the Cool Springs area), like Brentwood, closed less units in February 2014 than February 2013 by 4.2%, and the homes average sales price increased by 2.7% to $442,860, and the days on market decreased by 10 days.  Franklin, TN real estate currently has 3.7  months of inventory available for sale.

Franklin/Cool Springs area (zip code 37067) had 4.3% less homes close in February 2014 to February 2013 and only had an increase in the homes average sales price of .7% to $408,457 and unlike the other areas the days on market are up by 6 days.  Interestingly enough there is only 2.9  months of inventory available for sale.

Nolensville, TN has some interesting numbers for February 2014.  The number of homes sold in February 2014 vs Febrary 2013 went up by 9.1%, however the average sales price dropped by 1.9% to $336,682 and the average days on market increased by 30 days.  Even with these numbers there is only 3.8 months of inventory available for sale.

Thompsons Station, TN has had the largest growth for February 2014 over February 2013 than any other city in Williamson county.  This could be partially due to the New Construction happening in neighborhoods like; Tollgate Village, Canterbury, and Bridgemore Village.  TS saw an increase of 56.3% in units sold, a 13.6% increase in average home sales to $340,559, and a reduction in number of days on market by 82 days.  These numbers are amazing, however they have the largest inventory for Williamson county with 4.9 months of inventory.

Spring Hill, TN declined in February as compared to last February with 22.5% less homes sold, with the average sales price down 3.1% to $250,484 and the days on market up by 2 days.  Even with these numbers Spring Hill is still in a seller’s market with only 3.3 months of inventory available for sale.

Last but not least, Fairview TN had huge results for February 2014.  Fairview TN saw an increase in homes sold by 71.4% and an increase in the homes average sales price by 35.1% up to $200,300, however the days on market are up by 7 days as compared to February 2013.  Fairview currently has 4.4 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 0.0 months of inventory, for homes under $300,000 there are only 1.5 months of inventory, for homes under $400,000 there are also only 1.5 months of inventory, homes priced between $400,000 – $600,000 has 2.1 months of inventory.  Homes listed over $600,000 shift back to a balanced market with 6.4 months of inventory for homes priced from $600,000 – $800,000.  Homes priced over $800,000 are most definitely still in a buyer’s market with 22.3 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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