Williamson County Association of Realtors and the Greater Nashville Association of Realtors released their home sales numbers for June, 2009. The real estate market is still slow, but there are a few encouraging signs.
In Williamson Country, residential home sales decreased 11% compared to June, 2008, but more importantly, the median price for residential homes increased by less than 1%. Williamson County condo (Franklin, Brentwood) closings decreased 16% compared to a year ago, with the average sales price declining by 30%. In Davidson County, sales have dropped by almost 20% from June 2009 to June 2008. However, the median home price for a single family home in June, 2009 was $177,700, down just 3% from the $183,615 in June, 2008. The median price for Nashville condominuims was $152,870 in June, 2009, compared with $185,500 in 2008.
Caveat: I have always warned people not to read too much into these monthly numbers. For example, the May 2009 sales figures in Davidson and Williamson County saw a drop in prices of residential homes, while condo sales maintained relatively stable.
If you would like to see the actual sales reports, just click on either of the following links:Williamson County Association of Realtors June Sales Report
Greater Nashville Association of Realtors
The Williamson County report includes graphs with the number of sales and prices from 2005 to present. While the quantity of sales has clearly declined since 2005, median prices have held steady.
If you have any questions, feel free to contact me at 545-8611 or at jefffulmer@comcast.net.
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