Franklin, county home sales sizzle


Franklin, county home sales sizzle

By SUSAN LEATHERS

There’s no bad news in July housing reports , and that’s good. Franklin topped the charts in the number of single-family closings and prices rose too.

There’s really no bad news in July housing reports , and that’s good. Across the county, the total number of home closings in July 2012 was 407 as compared to 337 the year ago. Prices increased as well.

Franklin topped the charts in the number of single-family closings. The 203 homes sold in the city last month combined to have an average price of $421,732 and median price of $359,000.

Countywide, the median price was $350,000, up from $339,900, while the average price, at $412,525, was up from $384,267.

Days on the market decreased across the board as well.

 “July housing numbers continue to show strong gains in the local market. Inventory is lower and home sales are increasing, which is exactly where we want to see the market headed,” Tiffany Cheuvront, executive vice president, Williamson County Association of Realtors, said.

“An interesting segment of the market that we are seeing in Williamson County is the movement of farms, land and lots. This is one area that has been slower over the past several years and now we are seeing an increase in these types of transactions with a slight decrease in the number of days these types of properties are staying on the market,” Cheuvront noted.

“One thing is for sure, this is a very active market we are in right now.”

In Brentwood, while the number of single-family homes sold in July was three short of the same period last year, from 87 to 84, the median and average prices both rose. And important days on the market saw a significant decrease.

Brentwood-based Realtor Amy B. Wyatt noted that historic low interest rates continue to drive sales.  “The sustained activity reflects a market that is improving.

“The homes that are moving are truly market-ready,” Wyatt continued. She added, however, that “those properties that have not been properly prepared both inside and outside or priced properly still have difficulty selling.”

According to figures released Thursday by the Greater Nashville Association of Realtors, 2,574 home closings were reported in July — a 27.4 percent increase from the 2,021 closings reported for the same period last year. 

Year-to-date closings for the 10-county greater Nashville area are 14,568, a 25 percent increase from the 11,652 closings reported through July 2011.

GNAR President Kendra Cooke stated that this is the highest number of closings in one month since June 2008.

“The more diverse and stable employment environment here, compared with other parts of the country, is making a major difference in the regional economic recovery overall, and is certainly helping in home sales,” Cooke said.

“Pending sales remain strong and both condominium and single-family home prices are stable. Those are encouraging signs for the Middle Tennessee real estate market.”

Regionally the median residential price for a single-family home during July was $181,250 and for a condominium it was $156,220. This compares with last year’s median residential and condominium prices of $179,900 and $158,000, respectively.

About The Author

Kelly Gilfillan is the owner-publisher of Home Page Media Group which has been publishing hyperlocal news since 2009.

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