During the month of February, Nashville experienced a slight decrease of 13.3% in home sales compared to the month of February in 2010. Year-to-date closings through February are 2,235, a 4.5 percent decrease from the 2,341 closings reported through February 2010. The average sales price for a single-family home was $169,000 and for a condo it was$132,000. This compares to $159,000 and $149,950 for these residences at this time last year.
Inventory at the end of February was 20,997 which is down from 23,159 in February 2010. Alice Walker, the President of GNAR stated, “Inventory is down from last year, but beginning to increase as is expected as we move into spring when more people begin their search for a new home. There is already a good selection of homes available in the Greater Nashville market.”