I thought you might be interested to know that for the third quarter of 2008 compared to the third quarter of 2007, Williamson County TN only experienced a 2.46% drop in median price for single-family homes. Williamson County continues to perform better than many metro areas and the National average.  I have summarized information from Standard & Poor’s/Case-Shiller, story from Inman News, for your review…

S&P/Case-Shiller reports 16.6% drop in Q3

By Inman News, Tuesday, November 25, 2008.

The Standard & Poor’s/Case-Shiller National Home Price Index dropped a record 16.6 percent in the third quarter compared to the same quarter last year.

And a separate monthly price index for 20 U.S. metro areas also fell a record 17.4 percent year-over-year in September.

The monthly index is based on repeat sales of resale single-family homes over time, and the quarterly national index is a composite of single-family home-price indices for the nation’s nine Census divisions.

In a separate announcement this week, the National Association of Realtors reported that the median price of U.S. resale homes dropped 11.3 percent year-over-year in October — the largest ever drop since the National Association of Realtors began tracking the statistic in 1968 (see Inman News).

Phoenix suffered the largest year-over-year price drop in the S&P/Case-Shiller monthly index, falling 31.9 percent; followed by Las Vegas, down 31.3 percent; and San Francisco, down 29.5 percent.

Dallas had the slightest year-over-year price drop in September, at 2.7 percent (our own Williamson County Tennessee did better at only 2.46%); Charlotte was down 3.5 percent; and Denver was down 5.4 percent.

San Francisco had the largest August-to-September price drop, at 3.9 percent, while Cleveland had the slightest month-to-month drop, at 0.6 percent.

Click here to see the S&P/Case-Shiller 20-metro-area price index

Read this Inman News article in full

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This information was brought to you by JoAnne Staler, Williamson County Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit www.JoAnneStaler.com.

October 2008

October 2007

October 2006

October 2005

 For additional information on Home Sales in Williamson County Tennessee contact JoAnne Staler, Williamson County  REALTOR with Rochford Realty & Construction Company.  JoAnne is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown Nashville, Downtown Nashville, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Williamson County Tennessee, let a Top Selling Williamson County Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Williamson County Tennessee MLS visit www.JoAnneStaler.com.

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An article by Patrick Rucker WASHINGTON (Reuters) reports sales of previously owned U.S. homes rose 5.5 percent last month, the biggest gain since July 2003, and the inventory of unsold homes fell, a hopeful sign for the housing market. The article also states that The National Association of Realtors said on Friday that sales of existing homes rose to a 5.18 million-unit annual rate from the 4.91 million unit pace set in August.

Economists had expected sales to rise to only a 4.93 million unit rate. It was the first time the sales pace had risen above its year ago level in nearly three years, a sign the market could be stabilizing. The surprisingly large jump in sales pushed the inventory of unsold homes down by 1.6 percent to 4.27 million, or a 9.9 months’ supply at the current pace, the lowest since February. “We’re not out of the woods yet by any means when it comes to falling house prices and our fundamental problem of an oversupply of homes, but we’re getting near to the bottom every day,” said White House spokeswoman Dana Perino. Home prices, however, showed no signs of escaping their long, deep slide and economists said the number of homes on the market would likely have to fall further before they do. The median national home price declined 9 percent from a year ago to $191,600, the lowest level since April 2004. “As the median price continues to decline, seeking out that new equilibrium level, demand is — slowly and hesitantly — moving back into the market,” said Lindsey Piegza, an economic analyst at FTN Financial in New York. A Reuters poll taken October 21-24 found economists expect prices to continue to fall through next year. The median forecast from the survey was for a 15 percent drop this year and a 6.4 percent fall in 2009. Economists expect prices to turn up in 2010, but by a meager 1 percent. ‘VULTURE INVESTORS’ Rising U.S. mortgage defaults have sent credit markets into a tailspin, threatening economies worldwide. A majority of economists polled said finding a floor for house prices is an essential condition for ending the financial crisis. In order for prices to recover, the glut of unsold homes needs to be whittled down further, analysts said. “Most, if not all, the rise in sales is due to vulture investors buying cheap foreclosed homes, but all sales reduce inventory,” said Ian Shepherdson, the chief U.S. economist at High Frequency Economics in Valhalla, New York. “If this continues, people will stop expecting further price falls and activity will start to recover.” Lawrence Yun, the chief economist for the Realtors’ trade group, also pointed to a rise in foreclosure and other ‘distress’ sales in regions hard-hit by the housing downturn. “In some regions, the lower prices are seeing buyers return to the marketplace,” he said. “This was a nice jump and hopefully this trend can continue because the first step to stabilizing the market is an increase in home sales.”

Sales jumped 16.8 percent in the West, while rising 4.4 percent in the Midwest and 2.2 percent in the South. In the Northeast, sales fell 1.2 percent. Sales of single-family homes, which represent the lion’s share of the market, rose 6.2 percent. Sales of condominiums held steady. “We’re still struggling with falling home prices and we will for a while, but we’re forming a bottom here,” said Bob Walters, chief economist at Quicken Loans in Livonia, Michigan. (Additional reporting by Pedro Nicolaci da DaCosta, Ellen Freilich and Nick Olivari in New York; Polling by Bangalore polling unit; Editing by Andrea Ricci)

Click here to read the aforementioned article in its entirity.

This article was brought to you by JoAnne Staler, Nashville Tennessee REALTOR with Rochford Realty & Construction Company is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, Midtown, Downtown, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Middle Tennessee, let a Top Selling Nashville Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Middle Tennessee MLS visit http://www.JoAnnestaler.com/.

Review Williamson County Tennessee Home Sale Statistics for 2008

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MLS Market Snapshot: Get this week’s Nashville TN market conditions 

According to the most recent update from the Williamson County Association of REALTORS® Franklin Tennessee continues to lead the pack with 146 closed sales in June 2008.  

There were 327 residential and condominium closings in Williamson County Tennessee reported for the month of June, according to figures provided by the multiple listing service (MLS).

Compared to June of 2007, the residential home closings decreased 33 percent and the median price for residential homes decreased by 3 percent. Days on the market (DOM) for residential homes increased by 14 as compared to June 2007. Condominium closings decreased by 54 percent. The median prices for condominiums increased by 1 percent and days on the market also increased by 8 days compared to June 2007.

June 2008

June 2007

June 2006

June 2005

 For additional information on Home Sales in Williamson County Tennessee contact JoAnne Staler, Williamson County  REALTOR with Rochford Realty & Construction Company.  JoAnne is providing a unique level of service to buyers and sellers in Nashville, Brentwood, Franklin, Williamson County, Green Hills, Belle Meade, Bellevue, Forest Hills, Oak Hill, Vanderbilt, Belmont, MidtownNashville, Downtown Nashville, Historic Areas, Spring Hill, and Thompson Station Tennessee.  Whether Buying or Selling Real Estate locally or Relocating to Williamson County Tennessee, let a Top Selling Williamson County Real Estate Agent help.  To find out more about JoAnne Staler or search for real estate via the Williamson County Tennessee MLS visit www.JoAnneStaler.com.

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