The Greater Nashville Association of Realtors reported that there were 2,091 home closings for the month of February. This represents an increase of 12.6% from the 1,857 closings reported in February 2014.
Year-to-date closings through February 2015 are 4,067, a 12.7 percent increase from this time last year.
GNAR President Cindy Stanton said, “The home sales data for February shows just how strong the Middle Tennessee market has become. While we have seen many months of positive increases, with the extreme winter weather our area faced last month, we were uncertain of the effect it might have on property sales. Remarkably, the market was essentially not phased. As January did before it, this February saw its best monthly sales numbers since 2007.”
The median residential price for a single-family home during February was $206,000, and for a condominium it was $163,125.
Inventory at the end of February was 12,445, down from February 2014.