October Home Sales Continue to Increase
Press Release by Greater Nashville Association of REALTORS® | 110614
NASHVILLE, Tenn. (Nov. 6, 2014) – There were 3,015 home closings reported for the month of October, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 22 percent from the 2,469 closings reported for the same period last year.
Year-to-date closings for the Greater Nashville area have increased 6.8 percent. There were 27,957 closings, compared with 26,189 closings reported through October of last year.
“October and year-to-date figures are all up compared to the same periods last year,” said GNAR President Hagan Stone. “Given the state of our current market, the number of sales pending and the two months that remain in the year, exceeding last year’s total closings seems within reach.
“This time of year, we typically see the number of closings begin to decline. Having two consecutive months of double-digit, year-over-year increases this late in the year is unexpected, yet welcome news. Continued improvement in job growth combined with continued warmer weather is keeping buyers in the market.”
There were 2,730 sales pending at the end of the month, compared with 2,401 pending sales at this time last year. The average number of days on the market for a single-family home was 68 days.
The median residential price for a single-family home during October was $205,900, and for a condominium it was $165,000. This compares with last year’s median residential and condominium prices of $200,000 and $148,000, respectively.
Inventory at the end of October was 15,051, compared to 15,957 in October 2013.
“Though the holiday season can be a slow one for the real estate industry, there are still those looking to buy and sell properties,” added Stone. “In fact, holiday buyers are some of the most serious buyers in the marketplace. If you’re looking to buy or sell during the holiday season, working with a Realtor® will help you to make the most of the season.”
### 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. ###
KENNETH BARGERS, REALTOR® | Bargers Solutions real estate : marketing
a proud member of Pilkerton Realtors
2 Cadillac Drive, Brentwood TN 37027 address