August 2013 saw 3,084 closings, an encouraging number to see in a season that is generally slower after the busier spring and summer months. That number represents an 18.3 percent increase from August 2012’s 2,606 closings.
Year-to-date, closings are up 22.8 percent. Thus far in 2013, the Middle Tenn. Real Estate Market has seen 21,094 closings as reported by the Greater Nashville Association of Realtors (GNAR) as compared to last year’s 17,174 up to the same point in the year.
Pending sales are up at 2,888 from last year’s 2,572 at this same time. The average number of days a single-family home spent on the market in August was 67 days. The median residential price was $194,000 for a single-family home and $167,834 for a condo, compared to last year’s $175,000 and $147,634, respectively.
Inventory continues to be down. Currently, it sits at 16,250 compared to last August’s 18,223.