December Sales in Williamson County
From the WCAR:
Sales volume of homes in Williamson County broke all preceding December records with 500 single-family residential and condominium closings. This represents a 25.6% increase over December 2014 at 398 closings, according to data from the Williamson County Association of REALTORS® (WCAR).
There were 1,266 closings in the 4th quarter, up 8.4% from the 1,168 closings in the 4th quarter of last year. Total closings for 2015 totaled 5,551, an increase of 11.7% over the 4968 closings in 2014.
Over 35,000 residential and condominium transactions closed in the 9-county Middle Tennessee area during 2015. Approximately 16.8% of those closings occurred in Williamson County. The total dollar volume of residential transactions for 2015 was over $7.9 billion, with $2.2 billion of that business being done in Williamson County. That represents 27.8% of the sales volume for the region.
“The real estate market in Williamson County throughout 2015 was very active all year long. The significantly higher number of closings in December suggests there may have been a logjam of closings that didn’t happen in November due to new Consumer Financial Protection Bureau compliance guidelines that went into effect in October,” said David Logan, 2016 WCAR President. “That might also explain why closings were down slightly in November.”
“Interestingly”, said Logan, “while gold, oil and the stock market showed a lackluster finish in December, residential real estate still proved to be a wise option for local investors.”
“Ending the year with an 11.7% increase is certainly good news for the real estate market and local economy,” Logan said. “Available inventory continues to be one of the key concerns for home sales. Properties that are priced correctly and in market-ready condition are continuing to be very attractive to buyers. The fact that Middle Tennessee in general and Williamson County in particular, are so popular nationally means that the real estate market is likely to sustain its momentum.”