The average home price in Williamson County surpassed $1 million, according to data compiled by the Williamson County Association of Realtors (WCAR).
For January 2022, the data shows the average residential home price in Williamson County was $1,025,992 with the average condo price at $404,269. In December 2021, the average residential home price in Williamson County was $998,520 with the average condo price at $382,148.
In January 2021, the average residential home price in Williamson County was $749,403 while the average condo price was $333,131. The increase of average residential home price rose by 40% within one year, according to WCAR.
The average amount of time a residential home stayed on the market before going under contract in Williamson County in January 2022 was 13 days. In January 2021, the average time was 25 days before a residential home went under contract after being listed.
The priciest cities for real estate within Williamson County in January were Arrington, Brentwood, College Grove, Franklin, and Thompsons Station – all with average home prices averaging well over $1 million. In Brentwood, the average home price in January 2022 averaged $1,459,825.
The least-expensive city for average home price in Williamson County was Fairview, with the average home price in January 2022 coming in at $416,585.
Meanwhile, real estate giant Zillow expects national annual home value growth to continue to accelerate through the spring, peaking at 21.6% in May before gradually slowing to 17.3% by January 2023.
Monthly home value growth is also expected to “continue accelerating in coming months, rising to 1.7% in February and growing to 1.9% in April before slowing somewhat,” according to Zillow. By the end of January 2023, Zillow expects the typical U.S. home to be worth more than $380,000.
However, “elevated inflation heightens the risk of near-term monetary policy tightening, which would result in higher mortgage rates and weigh on housing demand,” Zillow notes.
– – –
Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
