The Greater Nashville REALTORS® has released the latest home sales stats for the Metro Nashville area and it looks like the market is starting to show signs of strength again. There was a reported 2,274 home sale for last month, which was only a decrease of 1% compared to last January’s numbers of 2,298 closing. Nashville had a record-breaking year in 2018, so the fact that we are only off by 1% is a very encouraging sign for 2019.
The median residential price for a single-family was $293,650, and for condos, it was $200,100. This compares to last year’s median residential and condo prices of $281,500 and $210,098 respectively.
Real Estate Closings by Category
Quotes From GNAR President
“January home sales were down slightly from this time last year,” said Greater Nashville REALTORS® President Andrew Terrell. “The government shutdown impacted closings in January to some degree, but overall, 2019 is off to a great start.
“Housing Inventory continues to show a steady and consistent gain which is critical to a strong and healthy market. Median home prices show a fairly consistent gain for residential single-family homes. The average home spent a little extra time on the market in January. Overall this past month’s home sales and our strong local economy build the foundation for a great year,” added Terrell.
There were 2,853 sales pending sales at the end of January. This was a slight decrease from the 2,951 pending sales we saw the same time last year. The average number of days on the market for a single-family home was 40 days.
Inventory at the end of January was still on the rise at 11,150 available homes compared to the 8,332 in January 2018.
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