For the first time since March, the number of real estate closings in Williamson County rose last month, compared to the same period last year.
According to data from the Williamson County Association of Realtors, buyers closed 767 real estate deals last month, compared to 679 the year before, and increase of almost 13%. The median sale price for residential properties in Williamson County rose about 5% over the last year to $572,500.
The number of new listings in March and April was much lower than 2019, following widespread shutdowns due to the coronavirus. In May, the number of new listings started to tick back up. By June, the number of new listings was almost equal to 2019.
However, there number of new listings last month. Sellers listed 865 new homes compared to 984 new listings last year. The number of homes that are actively for sale in Williamson County is at the lowest point since at least January 2018.
At $841,235, Arrington had the highest median home value of any community in Williamson County. Brentwood had the second highest home value, with a median sale price of $805,000. Thompson’s Station, Spring Hill and Fairview had the most affordable homes, with median sale prices of $457,500, $426,500 and $349,262 respectively.
The numbers in Williamson County match trends across the U.S. According to the National Association of Realtors, the median list price for homes is about 9% higher than last year and the total number of homes on the market is 35% lower than the year before.
“The housing market will need to remain above pre-COVID levels for at least another 10 weeks to make up for the lost activity in the second quarter of the year,” Realtor.com director of economic research Javier Vivas cautioned in an August press release. “As we head into fall, an anticipated resurgence in COVID cases and economic aftershocks are likely to create an uphill battle for home buyers and sellers.”
The greater Nashville area, which includes Williamson County, saw about a 3.6% increase in list prices compared to the year before and the number of active listing was down by about 28%.