“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.