Home sales in Greater Nashville area are still on a steady incline this August!
| August 2014 | August 2015 | |
| CLOSINGS | 3,226 | 3,770 |
| Residential | 2,676 | 3,173 |
| Condominium | 363 | 410 |
| Multi-Family | 35 | 34 |
| Farms/Land/Lots | 152 | 153 |
There were 3,770 homes sold in the month of August, according to the figures provided by the Greater Nashville Association of REALTORS. August 2014 reported 3,226 closings, which is a 16.7% increase this year. Year-to date closings for Greater Nashville area are on a 13.7% incline. This is reported from the 24,808 closings this year compared to the 21,820 closings through August of last year.
“For the fourth consecutive month and the seventh time this year, our region has seen a double-digit increase in area home sales,” said GNAR President Cindy Stanton. “Year-to-date we have already had more closings than 2008, 2009,2010,and 2011 saw in their respective full years. We are on pace to finish 2015 with the type of annual sales we experiences a decade ago.”
| August 2014 | August 2015 | |
| INVENTORY | 15,477 | 13,511 |
| Residential | 10,106 | 8,904 |
| Condominium | 1,045 | 988 |
| Multi-Family | 150 | 124 |
| Farms/Land/Lots | 4,176 | 3,495 |
There were 3,647 sales pending at the end of August and the average number of days on the market for a single-family home was 56 days. The average price for a single-family home during August was $235,000, and for a condominium it was $169,000. Last year the median for a single-family home was $219,000 and a condominium was $169,000. Inventory at the end of August was 13,511, compared to August 2014’s 15,477.