On September 13, 2013 In News
GREATER NASHVILLE HOME SALES CONTINUE TO INCREASE
NASHVILLE, Tenn. (Sept. 5, 2013) – There were 3,084 home closings reported for the month of August, according to figures provided by the Greater Nashville Association of REALTORS®. This figure represents an 18.3 percent increase from the 2,606 closings reported for the same period last year.
Year-to-date closings for the Greater Nashville area have increased 22.8 percent. There were 21,094 closings, compared with 17,174 closings reported through August of last year.
“Home sales during August increased 18.3 percent over August of last year. And, the total number of closings during the month exceeded 3,000, which is very encouraging,” said GNAR president Price Lechleiter. “Spring and summer are highly active times for home sales, but the start of the school year sometimes begins a seasonal downturn. The Greater Nashville market remains active and healthy, and the number of pending sales is cause to believe the trend is continuing.
“As Middle Tennessee continues to receive positive attention, with businesses and families moving here, it’s resulting in more growth. Preparing for and managing that growth is critically important. Addressing key local and regional issues like transit and public education will be necessary if we want to continue enjoying the benefits of being a vibrant, attractive location.”
A comparison of sales by category for August is:
August 2012 August 2013 CLOSINGS 2,606 3,084 Residential 2,177 2,544 Condominium 299 351 Multi-Family 20 29 Farms/Land/Lots 110 160 August 2012 August 2013 INVENTORY 18,223 16,250 Residential 11,231 10,156 Condominium 1,5432 1,215 Multi-Family 266 175 Farms/Land/Lots 5,294 4,704“Both condominium and single-family median prices continue to rise and days on market continue to drop,” added Lechleiter. “Inventory is continuing to decrease, which is the case in all categories this month. Now is certainly a good time to consider selling your home. There is demand from buyers for well-prepared and properly priced properties.”The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics. To access full home sales information, including historical data, click here.