September recorded 3,544 closings and was a continuation of an impressive year for home sales in Nashville. Overall numbers for the year show that there have been 30,792 homes sold so far, which was an increase of almost 5% compared to this time last year.
Average home values continue to hit record numbers as well. The median residential price for a single-family home during September was $280,000 and for a condos, it was $223,450. This represents a 9% increase for single-family homes and a whopping 18% increase for condos!
Real Estate Closings by Category
Quotes From GNAR President
“For a month where home sales begin to slow, this past September turned out to be remarkable for our region. Middle Tennessee achieved the best performing month of September that we have on record,” said Greater Nashville REALTORS® President, Scott Troxel. “Yes, overall home sales are slowing down, as is typical for this time of year. But, the September success sends a strong message about the importance and attractiveness of homeownership.” “
Sales are up incrementally for both the quarter and year-to-date compared to last year, keeping us on track to the best housing market we’ve ever had,” said Troxel. “That said, we have to work to keep our market healthy and an attractive place to live. Greater Nashville REALTORS® is actively working with the Transit for Nashville Coalition to help bring solutions to our congestion and traffic woes, problems that can cause current and future residents to choose elsewhere to call home. Nationally, the National Association of REALTORS® is closely monitoring proposed changes to the tax plan to ensure homeowners aren’t hurt in the process.”
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