As the latest real estate sales numbers for the Nashville area are being reported, we are seeing once again that this year’s activity continues to outpace last year. The Greater Nashville Association of REALTORS® stated that there were 3,444 home closings for the month of September. That is an increase of 10.3 percent from the 3,122 closings reported for the same period in 2014.
Overall closings for the 3rd Quarter are 11,046, which is 15% higher than last years closings of 9,606Our year to date closings for the Greater Nashville area are 28,252, which is an increase of 13.3 percent from the 24,942 closings reported through the third quarter of 2014.
Quotes from the GNAR President:
Sales by Category for September
Days on Market
Average days on market slightly increased from 55 to 56 days, but we are still seeing less time on market compared to last year’s average of 68 days in September of 2014. Pending home sales for September were 3,244, which was an increase from the 3,049 pending sales this time last year.
The median residential price for a single-family home during September was $236,866, and for a condominium, it was $171,325. This compares with last year’s median residential and condominium prices of $211,400 and $162,000, respectively. After two straight months of flat home values, it’s nice to see upward movement again, even if it’s only about $1,000.
Home Inventory by Category
Inventory at the end of September was 13,141, down from 15,182 in September 2014. The current inventory of properties by category, compared to last year, is:
GNAR president concluded the reports finding by stating, “Those who didn’t act during the summer shouldn’t be dissuaded, as fall is still a terrific time to buy or sell a home,” added Stanton. “For buyers, despite lower inventory, there are many great properties available and with likely less competition from other buyers as we enter fall. Those considering selling should take care of any repairs now, maintain their curb appeal and be sure the home is market ready.”
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