The Nashville real estate market saw strong home sales at the end of 2014, which put us on a great start to 2015!
There were 2,838 closings during the month of December, according to figures provided by the Greater Nashville Association of REALTORS. This is a 16.3% increase from the 2,441 closings reported for the same period in 2013.
Fourth quarter closings were 8,327 for Greater Nashville, showing a 15.7% increase total from the 7,197 closings during the fourth quarter of 2013.
Final numbers for 2014 show there were 33,269 homes sold in the region compared to the 30,917 closings in 2013. The final closing numbers are up 7.6%.
“Almost every county saw an increase in residential closings, and each experienced an increase in residential median price,” said GNAR President Cindy Stanton. “The region finished December with 2,458 pending sales. That is the highest number of pendings going into January our region has seen since 2007. ”
The average number of days on the market for a single-family home was 72 days.
The median price for a both residential properties and condominiums increased during December. For a single-family home it was $213,500 and for a condominium it was $172,999.
Inventory at the end of December was 12,093, down from 13,580 in December 2013.