Real Estate News | March Home Sales

    March home sales numbers brought good news and bad news for this year as compared to last. The number of homes that sold in March of this year is about ten percent lower than the same number a year ago (1,673 vs 1,851), but the prices of both single-family homes and condos has increased over the same period ($143,000 vs $137,450 for condominiums and $165,000 vs $159,250 for single-family homes). To be fair, the number of closings for the first quarter of 2010 is a bit skewed because of the increased demand due to the first-time homebuyers tax credit. If we compare 2011 data to 2009, when 1,521 homes were sold in March, we find almost a ten percent increase in home sales! This comparison, combined with the increase in housing prices, is very encouraging news for the Nashville housing market.

    Source: GNAR

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