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October Home Sales| Nashville Real Estate

There were 3,030 homes sold in the month of October, according to the figures provided by the Greater Nashville Association of REALTORS. October 2014 reported 3,015 closings, which is a 0.5% increase this year. Year-to-date closings for Greater Nashville area are on a 11.9% incline. This is reported from the 31,282 closings this year compared to the 27,957 closings through October of last year.

October 2014 October 2015
CLOSINGS 3,015 3,030
 Residential 2,485 2,519
 Condominium 332 328
 Multi-Family 24 18
 Farms/Land/Lots 174 165


“We are in the last quarter of the year, a time when the real estate market typically begins a seasonal slowdown,” said GNAR President Cindy Stanton. “While closings weren’t up by double digits, the market didn’t technically slow down; it merely maintained. A region looks for steady activity and growth to sustain its vitality. The leveling-off in sales is actually a good sign for the health of our market.”

There were 2,905 sales pending at the end of October and the average number of days on the market for a single-family home was 58 days. The average price for a single-family home during October was $230,000, and for a condominium it was $171,737. Last year the median for a single-family home was $205,900 and a condominium was $165,000. Inventory at the end of October was 12,894, compared to October 2014’s 15,051. See more here.

October 2014 October 2015
INVENTORY 15,051 12,894
 Residential 9,609 8,576
 Condominium 972 873
 Multi-Family 143 110
 Farms/Land/Lots 4,327 3,335


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