Page 1

REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY

Su M M TT W W Th F Sa S T F S

September

2012

1

2

3

4

8 2

9 3

10 11 12 13 14 4 5 6 7 8

15 9 22 16 29

16 10 23 17 30

17 11 24 18 31

18 12 25 19 32

5

19 13 26 20 33

6

20 14 27 21 34

71

21 15 28 22 35

23 24 25 26 27 28 29 36 37 38 39 40 41 42 30

TABLE OF CONTENTS Market Dashboard…………………………….. Pages 1-2 Number For Sale vs. Under Contract Number Sold vs. Expired Days On Market (Sold vs. Expired) Sold Listings - Prices (Last 6 Months) Sold Listings - Days On Market (Last 6 Months) Market Summary Table ($250K-$1 Million)….…..

Page 3

Market Summary Table ($1 Million-$2.5 Million)..

Page 4

Glossary…………………….………………………

Page 5


REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY Saturday September 1st, 2012

Let’s take a look

at the real estate market. Currently there are 574 sales pending in the market overall, leaving 1,824 listings still for sale. The resulting pending ratio is 23.9% (574 divided by 2,398). So you might be asking yourself, that’s great… but what exactly does it mean? I’m glad you asked!

Contracts Pending

Typically, a pending ratio indicates the supply and demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply. “The current inventory can best be described as increasingly active.”

Taking a closer look, we notice that the $250K - $300K price range has a relatively large number of contracts pending sale. We also notice that the $300K $350K price range has a relatively large inventory of properties for sale at 196 listings. The average list price (or asking price) for all properties in this market is $640,107.

Number of Listings For Sale vs. Pending Williamson County

For Sale

200 175 150 125 100 75 50 25 0

Sold Expired

Number of Sold vs Expired (Last 6 Mos.) Williamson County

300 275 250 225 200 175 150 125 100 75 50 25 0

A total of 2,131 contracts have closed in the last 6 months with an average sold price of $410,533. Breaking it down, we notice that the $250K - $300K price range contains the highest number of sold listings. Alternatively, a total of 687 listings have expired in that same period of time. Listings may expire for many reasons such as being priced too high, having been inadequately marketed, the property was in poor condition, or perhaps the owner had second thoughts about selling at this particular time. The $250K - $300K price range has the highest number of expired listings at 106 properties.

1

Market Dashboard


REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY Saturday September 1st, 2012 Looking at the chart to the right, you might be wondering why average days on market (DOM) is important. This is a useful measurement because it can help us to determine whether we are in a buyer’s market (indicated by high DOM), or a seller’s market (indicated by low DOM). Active listings, or properties for sale, have been on the market for an average of 98 days. Analysis of sold properties for the last 6 months reveals an average of 82 days on market. Notice that properties in the $950K - $1M price range have sold quickest over the last six months. The recent history of sales can be seen in the two charts below. The average sold price for the last 30 days was $404,983 with an average DOM of 79 days. Since the recent DOM is less than the average DOM for the last 6 months, it is a positive indicator for demand. It is always important to realize that the real estate market can fluctuate due to many factors, including shifting interest rates, the economy, or seasonal changes.

Average Days On Market (DOM) Williamson County

Sold Active 150 125 100 75 50 25 0

“The average list-to-sales ratio for this area is 96.6%.” Ratios are simple ways to express the difference between two values such as list price and sold price. In our case, we typically use the list-tosale ratio to determine the percentage of the final list price that the buyer ultimately paid. It is a very common method to help buyers decide how much to offer on a property.

Analysis of the absorption rate indicates an inventory of 5.1 months based on the last 6 months of sales. This estimate is often used to determine how long it would take to sell off the current inventory of listings if all conditions remained the same. It is significant to mention that this estimate does not take into consideration any additional properties that will come on the market in the future.

Continue to Market Summary Table… Average Sale Prices Williamson County

Average Days On Market (Sold) Williamson County 95

$420K

90 85

$410K

80 75

$400K

2

Market Dashboard


REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY Saturday September 1st, 2012 Contracts Pending

AbsorptionRate Rate Expired Listings (Last 6 Months)* Absorption Properties Sold (Last 6 Months)*

Properties For Sale Price Range Min.

Max.

Total Num

Avg DOM

Avg List Price

Total Num

Pending Ratio

Total Num

Total Num

Avg DOM

Avg List Price

Avg Sold Price

List to Sales

No. of Mos

$250,000

$299,999

156

81

$278,117

93

37.3%

106

308

77

$280,477

$275,083

98.1%

3.0

$300,000

$349,999

196

85

$328,184

91

31.7%

54

261

76

$330,756

$323,347

97.8%

4.5

$350,000

$399,999

189

80

$378,680

51

21.3%

63

195

76

$383,108

$374,432

97.7%

5.8

$400,000

$449,999

133

80

$429,218

60

31.1%

39

196

84

$435,467

$425,352

97.7%

4.1

$450,000

$499,999

155

80

$480,728

33

17.6%

72

144

81

$481,850

$470,915

97.7%

6.5

$500,000

$549,999

89

89

$530,869

38

29.9%

39

112

77

$533,806

$522,436

97.9%

4.8

$550,000

$599,999

83

103

$582,616

21

20.2%

30

81

77

$590,572

$573,651

97.1%

6.1

$600,000

$649,999

75

99

$633,232

11

12.8%

25

72

106

$639,530

$623,149

97.4%

6.3

$650,000

$699,999

57

128

$683,661

17

23.0%

14

47

69

$688,704

$676,559

98.2%

7.3

$700,000

$749,999

53

101

$731,847

20

27.4%

13

45

95

$747,447

$721,993

96.6%

7.1

$750,000

$799,999

39

117

$783,507

12

23.5%

16

16

113

$801,082

$773,200

96.5%

14.6

$800,000

$849,999

27

96

$837,068

5

15.6%

1

20

89

$863,052

$824,112

95.5%

8.1

$850,000

$899,999

48

116

$878,848

5

9.4%

20

26

111

$887,976

$864,262

97.3%

11.1

$900,000

$949,999

17

158

$934,164

1

5.6%

1

13

82

$988,828

$927,005

93.7%

7.8

$950,000

$999,999

26

140

$984,111

0

0.0%

7

10

59

$1,011,649

$969,205

95.8%

15.6

1 Mill

MAX

189

145

$2,359,550

18

8.7%

49

65

116

$1,687,425

$1,523,867

90.3%

17.4

Market Summary>>

1,824

98

$640,107

574

23.9%

687

2,131

82

$424,964

$410,533

96.6%

5.1

Previous Month>>

1,934

94

$623,104

584

23.2%

665

1,926

85

$422,149

$407,083

96.4%

6.0

Data believed to be accurate but not guaranteed.

Dates: 3/01/2012 - 9/01/2012

3

Market Summary Table


REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY Saturday September 1st, 2012 Contracts Pending

AbsorptionRate Rate Expired Listings (Last 6 Months)* Absorption Properties Sold (Last 6 Months)*

Properties For Sale Price Range Min.

Max.

Total Num

Avg DOM

Avg List Price

Total Num

Pending Ratio

Total Num

Total Num

Avg DOM

Avg List Price

Avg Sold Price

List to Sales

No. of Mos

$1,000,000

$1,099,999

16

118

$1,079,049

3

15.8%

4

13

84

$1,105,576

$1,036,157

93.7%

7.4

$1,100,000

$1,199,999

19

145

$1,176,226

2

9.5%

4

9

89

$1,225,491

$1,130,843

92.3%

12.7

$1,200,000

$1,299,999

24

120

$1,271,105

4

14.3%

5

13

135

$1,325,959

$1,221,261

92.1%

11.1

$1,300,000

$1,399,999

18

117

$1,366,144

2

10.0%

4

9

92

$1,425,276

$1,341,029

94.1%

12.0

$1,400,000

$1,499,999

13

115

$1,473,804

4

23.5%

2

1

20

$1,500,000

$1,435,000

95.7%

78.0

$1,500,000

$1,599,999

13

104

$1,563,615

0

0.0%

4

4

87

$1,720,325

$1,545,350

89.8%

19.5

$1,600,000

$1,699,999

8

181

$1,666,612

0

0.0%

4

2

216

$1,949,500

$1,665,000

85.4%

24.0

$1,700,000

$1,799,999

6

99

$1,756,316

1

14.3%

1

2

74

$1,887,500

$1,700,000

90.1%

18.0

$1,800,000

$1,899,999

4

228

$1,891,223

1

20.0%

0

3

203

$1,866,633

$1,816,666

97.3%

8.0

$1,900,000

$1,999,999

10

143

$1,961,680

1

9.1%

4

1

25

$1,995,000

$1,940,000

97.2%

60.0

$2,000,000

$2,099,999

2

148

$2,000,000

0

0.0%

1

2

53

$2,324,500

$2,000,000

86.0%

6.0

$2,100,000

$2,199,999

4

74

$2,141,250

0

0.0%

1

0

0

$0

$0

#DIV0

#DIV0

$2,200,000

$2,299,999

7

198

$2,255,571

0

0.0%

0

1

0

$2,296,690

$2,296,690

100.0%

42.0

$2,300,000

$2,399,999

3

233

$2,375,966

0

0.0%

0

0

0

$0

$0

#DIV0

#DIV0

$2,400,000

$2,499,999

2

263

$2,474,999

0

0.0%

1

0

0

$0

$0

#DIV0

#DIV0

$2,500,000

MAX

40

182

$5,503,074

0

0.0%

14

5

272

$4,723,979

$3,885,000

82.2%

48.0

Market Summary>>

1,824

98

$640,107

574

23.9%

687

2,131

82

$424,964

$410,533

96.6%

5.1

Previous Month>>

1,934

94

$623,104

584

23.2%

665

1,926

85

$422,149

$407,083

96.4%

6.0

Data believed to be accurate but not guaranteed.

Dates: 3/01/2012 - 9/01/2012

4

Market Summary Table


REAL ESTATE MARKET REPORT

WILLIAMSON COUNTY Saturday September 1st, 2012 1. PROPERTIES FOR SALE a. Number Active: The number of listings for sale which are currently being marketed but do not yet have a purchase agreement. b. Average Days On Market (DOM): The average marketing period of currently active listings. This does not account for some listings which have had a previous listing period, but were re-entered as a new listing. c. Average List Price: The average price that a seller is currently asking. 2. CONTRACTS PENDING a. Number Pending: The number of current listings for which a contract has been signed but has not yet closed. b. Pending Ratio: Sometimes called a “list to pending ratio�. This is a measure of how fast properties are going under contract vs. how fast they are being listed. P(Number of Pending Listings) Pending Ratio= A+P(Number of Active + Pending) (P) represents properties that buyers have chosen (A+P) represents the entire pool from which they have chosen 3. EXPIRED LISTINGS a. Number Expired: The number of listing agreements that have expired in the last 6 months. Some owners may choose to re-offer their property for sale. 4. PROPERTIES SOLD a. Number Sold: The number of properties that have gone to a closing in the last 6 months. b. Average Days On Market (DOM): The average marketing time it has taken to sell in the last 6 months. c. Average Original List Price: The average price at which a sold property was originally marketed. d. Average List Price: The average price at which a sold property was marketed just prior to selling. e. Average Sold Price: The average price for which a property sold. f. List to Sales Ratio: The percentage of the list price that the buyer ultimately paid for the property. List to Sales Ratio=

Average Sold Price Average List Price

5. OTHER a. Absorption Rate/Months of Inventory: An estimate of how fast listings are currently selling measured in months. For example, if 100 properties sell per month and there are 800 properties for sale - there is an 8 month supply of inventory before counting the additional properties that will come on the market.

5

Glossary

Williamson County Real Estate Market Report September 2012  

Information on the real estate market for Williamson County, Tennessee as of September 2012

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