Nashville’s latest housing numbers for November are in and it looks like we’re ending the year with a bang! The market report from the Greater Nashville REALTORS® showed 3,232 home sales which was an impressive 9.4% increase compared to the 3,076 home closings we saw last year. Home values are were also up 9.3% for single-family homes, and 9.8% for condominiums.
Although pending sales were down considerably, days on market remained unchanged.
Current Home Values
The median residential price for a single-family was $322,500, and for condos, it was $242,900. This compares to last year’s median residential prices of $295,000 and condo prices of $221,250.
Real Estate Closings by Category
Quotes From GNAR President
“November was a great month,” said Andrew Terrell, Greater Nashville REALTORS® president.” A large number of pending sales in October led to a strong finish for November.”
There were 2,801 sales pending sales at the end of November. This was an increase from the 3,076 pending sales we observed last year. The average number of days on the market for a single-family home was 33 days.
Inventory at the end of November was significantly lower with a reported 10,841 available homes in comparison to the 12,004 in November 2018.
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