Nashville Real Estate seems to change with the weather in some circumstances. This past month, there were 1,747 home closings reported for the month of April, according to figures provided by the Greater Nashville Association of REALTORS®. That’s about 100 more than last month (march- 1,673). We expect home sales to continue to increase this summer as the market picks up and buyers are able to get such good deals! While the year-to-date home sales are still down compared to 2010 with 5,655 which is almost a 10.5 percent decrease compared to the 6,337 closings reported through April 2010, we can see positive signs in the market. The GNAR President Alice Walker agrees: “The real estate market in Greater Nashville is showing some positive signs… The number of closings is increasing, inventory is showing a seasonal increase but has leveled off some overall, and other factors like interest rates remain very favorable.”
GNAR President, Alice Walker, also makes a note that comparing home sales to the same time period of 2010 gives a distorted view of how the market actually stand due to the first-time homebuyer tax credit of 2o1o which prompted higher sales in the first three quarters of 2010. She says, “Compared to 2009, home sales are up nearly 9 percent which is encouraging to both home buyers and sellers…” As we enter a busier buying and selling season, this offers more hope to the real estate market than we have seen in years!
And here are more Nashville numbers For Your Information-
Pending sales: 1,909 at the end of the month, compared to the 2,505 at this time last year.
Average number of days on the market for a single-family home: 95 days.
Median residential price for a single-family home during April: $159,070. For a condominium: $148,000.