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Greater Nashville: September Home Sales Continue to Increase; Third Quarter Numbers Up 19 Percent

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September Home Sales Continue to Increase; Third Quarter Numbers Up 19 Percent
Press Release by GNAR; October 8, 2013

NASHVILLE, Tenn. (Oct. 8, 2013) – There were 2,626 home closings reported for the month of September, according to figures provided by the Greater Nashville Association of REALTORS®. That number is up 15.9 percent from the 2,266 closings reported for the same period last year.

Third quarter numbers have increased from 2012 with 8,861 closings reported, which is 19 percent higher than last year’s third quarter closings of 7,446.

Year-to-date closings for the Greater Nashville area are 23,720. That total is up 22 percent from the 19,440 closings reported through the third quarter of 2012.

“September, third-quarter and year-to-date figures are all up compared to the same periods last year. And, we are now within less than 2,500 closings to exceed the total number of closings for all of last year,” said GNAR President Price Lechleiter. “Median prices continue to increase while remaining affordable. This is good news for sellers and buyers alike and reinforces home ownership as a strong financial investment.”

“The strongest time of the year for the housing industry is spring and summer. During the fall and winter months home sales typically show reduced monthly closings. But year-over-year comparisons continue to indicate significant increases. This is very encouraging.”

There were 2,487 sales pending at the end of September, compared with 2,291 pending sales at this time last year. The average number of days on the market for a single-family home was 70 days, compared with 82 days for September 2012.

The median residential price for a single-family home during September was $195,660, and for a condominium, it was $159,092. This compares with last year’s median residential and condominium prices of $175,000 and $153,900, respectively.

Inventory at the end of September was 16,263, down from 17,897 in September 2012.

“Inventory remains down, but we are still at a healthy market level with slightly over a 6-month supply. But, competition for purchase of good properties is increasing significantly. Buyers should be fully prepared to act quickly in order to purchase the home they want.” added Lechleiter. For those considering putting their home on the market, be sure it is market ready and properly priced. Your Realtor can help you address those, and other issues, to make your home attractive to today’s buyers.”

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.

Source: GNAR, Greater Nashville Association of REALTORS® | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

Open House Sunday – Fountainbrooke Beauty in Brentwood, Tennessee

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Greater Nashville Home Sales Continue to Increase

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Greater Nashville Home Sales Continue to Increase
Article by: GNAR Press Release; September 5, 2013

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.”

There were 2,888 sales pending at the end of August, compared with 2,572 pending sales at this time last year. The average number of days on the market for a single-family home was 67 days.

The median residential price for a single-family home during August was $194,000, and for a condominium it was $167,834. This compares with last year’s median residential and condominium prices of $175,000 and $147,634, respectively.

Inventory at the end of August was 16,250, down slightly from 18,223 in August 2012.

“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® s 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.

Source: Greater Nashville Association of REALTORS®, GNAR Press Release (090513) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

The Greater Nashville Area New Home Reports for July 2013

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The Greater Nashville Area New Home Reports for July 2013
Courtesy of MarketGraphics Research Group, 082813

MarketGraphics Research, located in Franklin, Tennessee, releases July’s New Home Permit Reports for the 12-county Greater Nashville area: County/Builder/Subdivision New Home Permit Report, Permits by County New Home Permit Report, Top 50 Builders New Home Permit Report

PermitsbyCountyJuly2013

Source: MarketGraphics Research Group, July 2013 Reports (082813) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

It’s Football Time and Nashville Region Report highlight August 2013 newsletter

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Middle Tennessee Home Sales Top 3,000 Units for May 2013

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MIDDLE TENNESSEE HOME SALES TOP 3,000 UNITS
Press Release by the Greater Nashville Association of REALTORS®; June 6, 2013

NASHVILLE, Tenn. (June 6, 2012) – There were 3,061 home closings reported for the month of May, according to figures provided by the Greater Nashville Association of REALTORS®. This represents a 22.4 percent increase from the 2,500closings reported for May 2012.

Year-to-date closings are 11,821.That total is up 24 percent from the 9,541 closings reported through the same period last year.

“In May, for the first time in nearly six years – since August 2007 – closings surpassed 3,000 units in one month. That’s a major milestone for our region,” said GNAR President Price Lechleiter. “Median prices continue to increase while remaining affordable and there are more than 3,000 sales currently pending. Combined, these numbers show that the Nashville market is not only stabilizing but growing stronger. This is welcome news.”

“While the signs are encouraging, they are far from solid. Key supporting factors such as the availability of FHA financing, the backing of FANNIE MAE and FREDDIE MAC, and the availability of the Mortgage Interest Deduction, which is especially important to first-time buyers, must be kept in place. Realtors continue to communicate with elected officials about the significance of protecting these programs that are so important not just to the real estate market, but to the overall economy.”

There were 3,069 sales pending at the end of the month, compared with 2,671 sales pending at this time last year. The average number of days on the market for a single-family home was 73 days.

The median residential price in May was $195,000 for a single-family home and $166,900 for a condominium. This compares with last year’s median residential and condominium prices $179,000 and $160,000, respectively.

Inventory at the end of May was 16,760, down from the 19,503 reported in May of 2012.

“As expected, inventory is down from last year and about the same number as last month,” added Lechleiter. “The limited inventory creates opportunities and challenges for both buyers and sellers. While median prices are increasing, they are not yet at the level some sellers want or need in order to sell, so inventory is limited. That means the market-ready, properly-priced properties that do come on the market are very popular and are selling quickly.”

“In these times, the value of a real estate professional becomes even more evident. Realtors use their experience and training to help buyers and sellers navigate the trends and uncertainties of the current market and enable both of these groups to have a positive transaction experience.”

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.

Source: GNAR, Greater Nashville Association of REALTORS® (060613) | Blog, In The News, distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee

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