In it’s latest market report, the Greater Nashville REALTORS® announced 3,479 home sales for April, which was a 1.8% increase from the 3,419 home closings we saw this same time last year. You may be thinking that 1.8% doesn’t sound like a significant increase, but Nashville has never seen more home sales in April than it did this year.
To put it simply, these sales numbers are historic.
Additionally, we are beginning to see major growth in home inventory which gives homebuyers more options when looking to purchase a home.
The median residential price for a single-family was $306,970, and for condos, it was $229,990. This compares to last year’s median residential prices of $295,000 and condo prices of $222,750.
Real Estate Closings by Category
Quotes From GNAR President
“April home sales did not disappoint,” said Greater Nashville REALTORS® President, Andrew Terrell. “ With record-breaking sales volume for April, we are exceedingly optimistic about the growth we see in the Middle Tennessee housing market.”
There were 3,833 sales pending sales at the end of April. This was a substantial increase from the 3,430 pending sales we saw last year. The average number of days on the market for a single-family home was 37 days.
Inventory at the end of April was still on the rise with a reported 11,627 available homes compared to the 8,876 in April 2018.
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