The number of home sales in Williamson County was still much lower last month than than the previous year, but new listings are starting to tick back up.
Home sales in Williamson County were about 22% lower last month compared to sales in May 2019, according to new data from the Williamson County Association of Realtors. Real estate sales in the county fell by a similar amount in April.
Buyers closed on 425 home in May, compared to 546 homes the year before.
At the same time, the number of new listings has started to rise. Home owners put 974 homes on the market in May. That’s down from 1,124 the previous year, but it’s a big bump from last month when only 741 new homes came on the market.
While the number of sales has fallen during the coronavirus pandemic, sale prices have not dropped. The median sale price has increased from $544,950 in May 2019 to $550,000 last month. That small increase is a much slower rate of growth compared to the previous three years, when home prices increased between 5% and 9%.
A report from the National Association of Realtors, estimated that the U.S. housing market hit its low point in mid-April, and noted some signs of a rebound over the last several weeks such as an increase in listing prices and new listings.
The Nashville area as a whole, which includes Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson Counties, saw a similar decrease in home sales of about 22%. The full Nashville area only saw home sales drop 17% in April.
Homes in Arrington and Brentwood had the highest median sale prices of $859,900 and $741,000 respectively. Spring Hill and Thompson’s Station had the most affordable homes with median prices of $406,592 and $444,990 respectively.