Nashville Real Estate | August Home Sales
News about home sales comes gleefully this month! Greater Nashville Home Sales have increased for the second consecutive month, which is exciting news for Nashville homeowners.
According to the Greater Nashville Association of Realtors, there were 2,047 home closings in the month of August, a figure which represents a 28.4 percent increase from the 1,594 reported closings during the same period last year. Year-to-date closings for Nashville have decreased 4.6 percent; there were 13,699 closings compared with 14,362 closings reporting through August of last year.
GNAR Present, Alice Walker, remarked that the continued increase in closings is, “a continued sign the market is stable and showing some encouraging signs,” she continued on, “the comparison of closings to last year continues to support a distorted view of the market. In the first half of this year, we were comparing months where the tax credit was in place in 2010… So what we are really seeing now is a stable market that looks stronger when compared to the weaker market that followed the expiration of the tax credit last year.”
At the end of August, there were 2,055 sales pending as compared with 1,716 pending sales at the end of August 2010. The average number of days on the market for a single-family home was 90 days and the median residential price for a single-family home during August was $171,900 with $152,000 for a condominium. Those numbers are compared with last year’s median residential price of $174,500 and condominium price of $141,890.
“There are still plenty of homes available in a variety of price ranges throughout Greater Nashville, and conditions remain favorite for those interested in purchasing a house,” Walker closed with.
To view the full report, click here.