All right guys it’s been an amazing year for real estate and I wanna make sure that I keep you guys up to speed about what’s going on here in Williamson County.

The average home price for the 3 month period ending in August was $885,000 thousand dollars
vs
$650,000 thousand dollars for the same 3 month period last year.


When I break that number down by cities Franklin came in at $912,000 thousand dollars, Brentwood was $1 million $125,000 thousand dollars, Thompsons Station came in at $671,000 thousand dollars,
and Nolensville was $632,000 thousand dollars.


One of the stats I really like to keep an eye on to determine where the real estate market is headed is the Months supply of inventory. The months supply of inventory tells us the number of months it would take for the current inventory to sell. If months supply is lower than 4 then sellers have an advantage. If the months supply is above 6 then buyers have the advantage.


In August we had 1.4 months supply of inventory here in Williamson County. Last August there was 4.7 months supply of the inventory. So as of right now the market is still favorable for sellers. If we start to see that number swing up it will be an indicator that the market is stabilizing. I’ll keep an eye on that number and keep you posted.



Another number that I want to look at that can help us determine what things are going to look like moving forward is new listings. In August there were 591 new listings in Williamson County. Seems like a big number right? However last August we had a whopping 837 new listings to hit the market in August. So we are still a long way away from having enough inventory to shift this market.


Another number that further reinforces that is if we look at total homes for sale. In August of this year we had 883 homes for sale. If we look back to last year in August there were 2413 homes for sale.


So what we have happening right now is not enough new listings hitting the market and the ones that are on the market are getting scooped up really quickly.


OK guys I just wanted to give you a quick update if you have specific questions about your home or your neighborhood please feel free to shoot me a private message or give me a call anytime. I appreciate you watching and I’ll see you next time.

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