May Home Sales Update | Nashville Real Estate

    May proved to be another good month for the real estate market! There were 3,079 home closings reported in the month of May alone according to the Greater Nashville Association of Realtors. This means a .6% increase from May 2013. The year-to-date closings are up 1.6% from last year with a reported 12,012 so far in 2014.

    A comparison of sales by category for May is: 

    2013                  2014
    CLOSINGS                   3,061                 3,079
    Residential                 2,562                 2,544
    Condominium              311                    347
    Multi-Family                  29                      21
    Farm/Land/Lots        159                    167

    The average number of days on the market for a single-family home was 70 days. The median residential price in May was $209,900 for a single-family home and $174,000 for a condominium. This is up from last year as well.

    The current inventory of properties by category for May is: 

    2013               2014
    Inventory                      16,760 15,962
    Residential                  10,415            10,414
    Condominium            1,330              1,128
    Multi-Family                 199                  146
    Farm/Land/Lots      4,816              4,274

    If you’re considering putting your home on the market, be sure it is market-ready and properly priced. We can help make your home attractive to buyers. Contact us today!

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