The Grumbles Team presents the Total Real Estate Market Overview for Williamson County for the 6 months prior to July 2010. Click the table to preview the data in a separate window. Spring Hill and Nolensville have the least amount of “shelved” inventory at about 7.0 months of inventory at current consumption. Brentwood and Franklin are both around 10 months of active inventory. The entire county averages out at 9.7 months of inventory (down from 10.7 as reported in June 2010) at the average consumption rate of 232 homes SOLD per month. If you are buying now or have your home on the market then expect 94% of your list price to be a good negotiating point as that is the average over the past 6 months in Williamson County.
This real estate market overview report is also available by Zipcode.
The above chart shows that the buyers are consuming homes and thus the absorption rate is climbing and the months of inventory is steadily declining as is typical in the summer months. Home Owners are not yet flooding the market with more properties for sale as the price points of the homes selling is still on the decline. If the prices were increasing then the homeowners would be adding more homes to the inventory and the red and blue lines would not look like mirror images of each other (one increasing while the other decreases in direct proportion to each other).
The graph above represents the closed units, excluding commercial and rental from the Middle Tennessee MLS. We are now at none (9) continuous months where the sales outpaced the same month in the prior year. After seventeen (17) months of decline this is a positive sign for real estate recovery. However this was bolstered by the home buyer tax incentive that ended in July and has yet to complete as the properties could close through July.
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