September 2012 Home Sales | Nashville Real Estate

    Nashville’s Real Estate market saw a 23.7 percent increase in home closings from September 2011 to September 2012. There were 2,266 closings reported last month according to the Greater Nashville Association of Realtors, up from 1,832 closings reported during September of last year. Year-to-date closings increased too–by 25.2 percent! There have been 19,440 closings so far this year compared with 15531 at the same point last September. The increase in home sales seen over the past year is proving a lot of really good things about the Nashville real estate market according to GNAR President Kendra Cooke.

    “Home sales have seen an increase every month this year,” said GNAR President Kendra Cooke. “And those increases result in strong third quarter and year-to-date numbers in Middle Tennessee – both up more than 25 percent. Also notable for September are more residential closings than all closings combined last September.”

    Let’s break down the numbers a bit more. There were 2,291 sales pending at the end of September, compared with 1,729 pending sales at the same time last year. The average number of days a single-family house spent on the market was 82 days. The median residential price for a single-family home during September was $175,000, $153,900 for a condominium. Those prices compare with last year’s median prices of $163,000 and $144,900 respectively. Inventory at the end of September was 17,897, down slightly from 20,718 in September 2011.

    “Even though standard seasonal trends may show reduced monthly closings, the comparisons to the same months from last year continue to indicate significant increases, which is very encouraging. Greater Nashville is fortunate to be experiencing these increases, as they are still not the case in many other parts of the country,” Cooke explained, finishing, “Greater Nashville remains attractive to both companies and families.”

    Looking to buy a home in the greater Nashville area? Be sure to check out our current listings here.

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the local area.