July Home Sales

According to the Greater Nashville Association of Realtors, home sales decreased drastically during the month of July while prices of these homes increased.  In the month of July, 1,745 homes were sold which was a 21% decrease compared to the 2,241 closings that were reported in July of last year.  Year-to-date closings are at 12,768 which is an 11.5% increase over the year-to-date closing of 2009 which were 11,454.  While sales for July have deceased, prices for both single-family and condos continue to rise.  The average price of a single-family residence was $181,000 and for a condo was $149,900.  By comparison, for July these averages were $171,00 for a single family residence and $142,146 for a condo.