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Nashville Home Sales Continue Their Record-Setting Summer Pace

Posted by Scott Layson on July 18, 2019
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The Greater Nashville REALTORS®, in its most recent market report, revealed 4,172 home sales for June―an increase in sales of 3.4% from the 4,036 home closings this time last year. Prices have also continued their steady ascent, increasing for both single-family homes and condominiums.

Although there was a slight increase in days on market, home sellers should not be too concerned as this pending home sales were up 8% 

 

 

Current Home Values

The median residential price for a single-family was $319,990, and for condos, it was $231,689. This compares to last year’s median residential prices of $314,900 and condo prices of $221,850.

 

Real Estate Closings by Category

20182019
CLOSINGS4,0364,172
Residential3,3853,529
Condominium446451
Multi-Family2724

Quotes From GNAR President

“Consumers are taking full advantage of our vibrant local and national economy,” said Andrew Terrell, Greater Nashville REALTORS® president. “Falling mortgage rates are boosting consumer confidence when it comes to buying and selling homes, which is evident in the 2.3 percent increase in sales year-to-date compared to 2018.”

 

What’s Pending?

There were 3,645 sales pending sales at the end of June. This was an increase from the 3,379 pending sales we observed last year.  The average number of days on the market for a single-family home was 32 days.

 

Available Inventory

Inventory at the end of June was still on the rise with a reported 11,610 available homes compared to the 11,087 in June 2018.

20182019
INVENTORY11,08711,610
Residential7,8208,274
Condominium896985
Multi-Family12769
Farms/Land/Lots2,2472,282

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