Real Estate Closings Oct 2020

The number of homes sold in Williamson County is still tracking much higher compared to last year.

Property owners sold 635 homes, more than 23% higher than October 2019. The median sale price for a single family home was about $599,000, which is 11% jump from one year ago. The new numbers come from the Williamson County Association of Realtors.

Williamson County’s growth in home sales is outpacing the growth in the full Nashville area market, which saw a 17% increase in home sales last month.

The number of homes currently for sale in Williamson County has been cut in half over the last year. There were 775 homes and condos actively for sale at the end of October, down from 1,558 last year.

The number of new listings shows that inventory is likely to decline further. There were only 775 new listings for homes and condos in October, about 6% lower than 2019.

The lack of inventory mirrors housing trends national. According to the National Association of Realtors, the number of homes for sales was down more than 38% nationally.

Real estate sales normally peak during the summer and slow down during the fall. Sales peaked this year in July, but have remained fairly high throughout the fall.

The number of total homes sold in 2020 lagged behind 2019 from April through June. But the total home sales through the first 10 months of 2020 is now about 5% higher than last year.

Brentwood and Arrington had the highest median home price, at $990,000 and $888,750 respectively. Spring Hill and Fairview had the most affordable homes, with median prices of $422,495 and $381,000 respectively.

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