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February Home Sales| Nashville Real Estate

There were 2,293 homes sold in the month of February, according to the figures provided by the Greater Nashville Association of REALTORS. February 2015 reported 2,091 closings, which is a 9.7% increase this year.

February 2015 February 2016
CLOSINGS 2,091 2,293
 Residential 1,697 1,891
 Condominium 229 270
 Multi-Family 13 18
 Farms/Land/Lots 152 114

“Growing consumer confidence, a gentle increase in inventory and a healthy economy all contributed to making February another solid month in home sales,” said GNAR President Denise Creswell. “Our region closed over 2,200 units last month. Like January of this year, February hasn’t been this strong since 2007.”

“Several days of unseasonably warm weather certainly aided this month’s activity. Whether you believe the predictions of Punxsutawney Phil or not, Middle Tennessee’s real estate market is set to see an early spring,” said Creswell.

There were 2,735 sales pending at the end of February and the average number of days on the market for a single-family home was 65 days. The average price for a single-family home during February was $235,000, and for a condominium, it was $174,380. Last year the median for a single-family home was $206,000 and a condominium was $163,125. Inventory at the end of February was 11,677, compared to February 2015’s 12,445.

February 2015 February 2016
INVENTORY 12,445 11,677
 Residential 7,912 7,707
 Condominium 814 755
 Multi-Family 110 96
 Farms/Land/Lots 3,609 3,119


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