October home sales, prices down slightly in city

By SUSAN LEATHERS
Brentwood Home Page
The recovering real estate market cooled slightly right along with the temperatures last month.

In Brentwood, 45 home sales closed in October, down from 51 in October 2010. The average and median prices were also down. The average price was $613,363 last month as compared to $647,378, while the median price of $521,000, down from $539,000 in 2010.

A median-priced Brentwood home At $522,522, this new 5-bedroom, 4-bath home in the Whetstone development off Edmondson Road is the home currently on the market that most closely matches October's median price of  $521,000. Source: RealTracs.com.

Three homes over $1 million sold last month.

“October typically is the beginning of the fall market; the time between when school starts and people start thinking about buying and selling again,” said Realtor Amy B. Wyatt who provides Brentwood Home Page with its monthly home sales statistics. “October’s single digit drop in sales and price are most likely indicative of the lull we usually experience because of September’s slowdown in activity.

“Brentwood’s market is traditionally strong thanks to the county’s highly regarded schools and the quick commute to offices in Cool Springs, Maryland Farms and Nashville. While we don’t like to see a drop in price, being down only single-digit percentages is much more desirable than the double-digit decreases other areas of the country are currently seeing.”

Overall, the number of homes sold in Williamson County increased 5.4 percent last month over October 2011. The median price countywide was $327,000, down from $358,508 last year; the average price fell to $383,759 from $417,038.

Days on the market in October increased year over year in Brentwood, from 94 from 79, but decreased countywide, 85 last month as compared to 92 in 2010.

“While Williamson County is experiencing lower median sales prices and fewer home sales compared to the past several months, Williamson County is still a very attractive place for people to live and work,” Tiffany D. Cheuvront, vice president of the Williamson County Association of Realtors. “The announcement last week of more new companies bringing jobs into Williamson County is encouraging for the housing market. Our statistics show a steady recovery of the market compared to other surrounding areas.”

According to the WCAR, average inventory in the county decreased from 2222 in October 2010 to 1993 last month. In Brentwood, 425 homes are for sale.