There were 1,728 reported home closings in October, a figure up 15.6 percent from the same period last year. Year-to-date closings through October were down ever so slightly, by less than one percent, with 17,259 in comparison to 17,424 closings through October 2010.
“Greater Nashville continues to receive positive attention and accolades that makes the region increasingly attractive to both corporations and families,” said Alice Walker, GNAR President. “Newcomers seem pleased with buying opportunities, both in inventory and price, available to them here in the Middle Tennessee area.”
There were 1,446 residential home closings this October in comparison to 1,284 closings at the end of October 2010. There were 1,742 sales pending at the end of this October, up from the 1,439 sales that were pending at the end of October 2010. Single-family homes spent an average of 92 days on the market.
The median price for a single-family home during October was $162,000 and for a condominium, it was $139,515. This compares with last year’s median residential and condominium prices of $173,525 and $152,950, respectively.