December 2023 Nashville Real Estate Market Report

Williamson County

by Tedd & Candace Anger

Welcome to Your Monthly Market Report for Williamson County in Tennessee

Home Prices!

Happy New Year, Everyone! As we brave the chilly weather here in Brentwood, Tennessee, our local real estate market in Williamson County is heating up. Join us as we explore some intriguing statistics that shed light on the trends and dynamics shaping our community.

Firstly, let's delve into the December comparison between 2022 and 2023. While house closings experienced a 10% decrease, condo sales nearly doubled! House prices witnessed a remarkable surge, with the average jumping from $1,102,000 to $1,170,000—an increase of almost $70,000. The median price also saw a significant rise, leaping from $880,000 to $920,000, reflecting a positive shift in the market.

Days on Market

Intriguingly, houses are spending a bit more time on the market compared to December 2022, with Days On Market for houses increasing from 25 to 31. However, condos paint a different picture, with their Days On Market decreasing from 42 to 19, cutting their time in half. If you're contemplating selling your condo, now might be the perfect time to make a move!

Inventory

Moving on to the fourth point, the active inventory in Williamson County decreased month over month, dropping from 1,116 active listings in December 2022 to 946 in December 2023. When looking at specific areas, houses in Arrington currently boast the shortest Days On Market, with only 9 days, while Brentwood has the longest, with 57 days on the market.

In summary, housing prices are on the rise, houses are taking a bit longer to sell, but condos are flying off the market! Sellers are becoming more open to negotiations on prices, repairs, and closing costs, creating opportunities for prospective buyers. While multiple offer situations are less common, the market remains dynamic.

Looking Ahead

Candace offers a glimpse into the future, suggesting that this could be an excellent time to buy due to reduced competition and the Federal Reserve signaling rate cuts this year. Securing the house you want now might even open the door to consider refinancing in the future.

As we step into 2024, Tedd & Candace Anger of Brandon Hannah Properties extend warm wishes to everyone and express excitement about the opportunity to serve you in navigating the ever-evolving waves of Williamson County's real estate market. If you have any questions about the market, local investment properties, or if you need a valuation for your home, don't hesitate to give them a call. Here's to a fantastic 2024 filled with real estate opportunities!

Why Tennessee?

Living in Tennessee not only means enjoying a thriving real estate market but also comes with additional perks. No state income tax, a high quality of life, strong communities, excellent healthcare, a booming job market, and a growing economy make Tennessee an ideal place to call home.

Choosing the Right Realtor

In this dynamic market, having an expert realtor who wakes up every morning to study the trends is crucial. The wrong choice can cost you both money and time. I invite you to reach out for a free consultation. Let's navigate the real estate landscape together, ensuring your journey is smooth and successful. I look forward to meeting you!

All statistics and numbers are powered by Real Tracs, our listing service of Middle Tennessee. Until next month, happy house hunting!