Greater Nashville Home Sales Increase 19% in September

Greater Nashville Home Sales Increase 19% in September
Press Release by Greater Nashville Association of REALTORS®; October 8, 2014

GNARNASHVILLE, Tenn. (Oct. 8, 2014) – There were 3,122 home closings reported for the month of September, according to figures provided by the Greater Nashville Association of REALTORS®. That number is up 19 percent from the 2,626 closings reported for the same period last year.

Third quarter numbers have increased from 2013 with 9,606 closings reported, which is 8.4 percent higher than last year’s third quarter closings of 8,861.

Year-to-date closings for the Greater Nashville area are 24,942. That total is up 5.2 percent from the 23,720 closings reported through the third quarter of 2013.

“Seeing an increase in home sales in September, third-quarter and year-to-date says a lot about the market in our region,” said GNAR President Hagan Stone. “Between July and September, nearly every county in our area saw increases in residential sales, condominium sales or both. These numbers are strong indicators that Middle Tennessee remains healthy and vibrant as we move into the fourth quarter.

“In addition, we are confident that good economic and job growth news like Under Armour’s distribution center in Mt. Juliet, the opening of the Mars Petcare Global Innovation Center in Thompson’s Station and the groundbreaking on HCA’s Capitol View development will have a positive impact on area home sales in the coming year.”

There were 3,049 sales pending at the end of September, compared with 2,487 pending sales at this time last year. The average number of days on the market for a single-family home was 68 days, compared with 70 days for September 2013.

The median residential price for a single-family home during September was $211,400, and for a condominium, it was $162,000. This compares with last year’s median residential and condominium prices of $195,660 and $159,092, respectively.

Inventory at the end of September was 15,182, down from 16,263 in September 2013.

“Inventory remains at a lower level than we would prefer. As we enter the cooler months and holiday season, fewer sellers will enter the market,” added Stone. “For those considering selling your home, be sure the property is prepared, properly priced and presentable. With one of the strongest markets in the country, now is definitely the time to make the move.”

The Greater Nashville Association of REALTORS(R) is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR(R) is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors(R) and subscribe to its strict code of ethics.

Source: GNAR Press Release 100814

KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
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Author: Kenneth Bargers

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