August Home Sales- Music City is looking good.


    Although home sales in August were down, the year-to-date closings are still above last year’s average.

    August 2010: 1,594 homes sold, a 22.8 percent decrease compared to the 2,064 closings of August 2009.
    Year-to-date: 14,362 homes sold, a 6.2 percent increase compared to 13,518 closings through August 2009.
    The prices for single family homes continues to increase.  The median price of a single-family residence in August 2010 was $174,500.  By comparison, the median price of a single family residence in August of 2009 was $160,000.

    Just like the rest of the country, greater-Nashville is facing economic challenges and this is certainly seen in home sales.  GNAR President Lucy Smith says,  “Frankly, even in this changing time, we really should be thankful. Other markets our size are seeing larger declines in home sales. The Middle Tennessee region is fortunate to have the active major projects like the Music City Center, Omni Hotel and others happening here. That kind of activity, especially now, says our community believes in our future and is acting to create it.”  Although sales seem low, compared to the rest of the country, Nashville’s market is looking up!

    If you or someone you know is looking to Buy or Sell a home, please let us know! We would love to help them out!  Visit www.nashvilleonthemove.com for more information!

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    Our agents write often to give you the latest insights on owning a home or property in the local area.