Positive News! Hopefully this will continue. Stay tuned for September’s home sales results coming soon…. Check out the Absorption Rate for the Wildwood neighborhood in Brentwood located in Northern Williamson County.
August 2010
- 7.6% Increase in August Home Sales Nationally*
- 5.2% Increase in July home Sales in the Southern Region*
- 11.6% months supply of inventory* (up from July)
- 9% Increase in August Sales in Williamson County Compared to Last Year**
- 15% increase the Median Sales Price Compared to Last Year** (up from July)
- 1.5% Decrease in the median Sales Price for the South*
- 34% of August Sales Nationally were Distressed Properties (up from July)
- 22.8% Decrease in August Sales Year over Year***
- 6.2% Increase in Sales Year to date Through August***
- 0.6% Decrease in total housing inventory* (down from July)
- 31% of August homes sales were first time home buyers (down from July)
- 4% Increase in Foreclosures in August-Reported by Realtytimes
*Information from NAR (National Association of Realtors) President
**Information From WCAR (Williamson County Association of Realtors) President
***GNAR (Greater Nashville Association of Realtors)
Factors Impacting Today’s Market
- Number of Distressed properties
- Tennessee 2nd Highest bankruptcy rate Nationally-Administrative Office of the Court
- Inventory Levels Still High but Williamson County reports a Decrease
- Leasing Options Rising
- Mortgage fraud rose 17% in 2009-Wall Street Journal
- Unemployment Still High
- Interest Rates Remain Low-Lowest reported by Freddie Mac
- Eager Sellers
- Foreclosures are affecting home values
Wildwood Estates – Brentwood, TN
2007 2008 2009
Number of Sales 7 4 1
Average Price perSF 163.15 162.48 171.07
Wildwood Estates Absorption Rate = 11.76 Months of Supply
The rate at which a class of properties will be sold (absorbed by the Market)
