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Greater Nashville Home Sales Gain Through Midyear

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Greater Nashville Home Sales Gain Through Midyear
Press Release by Greater Nashville Association of REALTORS® | July 7, 2015

GNAR-225x100NASHVILLE, Tenn. (July 7, 2015) – There were 3,804 homes sold in the month of June, according to figures provided by the Greater Nashville Association of REALTORS®. That figure is up 14.4 percent compared to the 3,324 closings reported for June 2014.

Second-quarter numbers are also up, with 10,302 closings reported, a 12.3 percent increase from the 9,170 closings reported through the second quarter of 2014. Year-to-date closings for Greater Nashville are up 12.2 percent with 17,206 closings compared to the 15,336 closings reported through midyear 2014.

“The news is good for Middle Tennessee home sales with both second-quarter and year-to-date numbers all up compared to last year,” said GNAR President Cindy Stanton. “Every county in our reporting area showed an increase in residential sales, and more than half experienced the same in the condominium market, as well.

“It has been a decade since our area has experienced as strong a month of June as we did this year. The continued growth with jobs, the economy and consumer confidence indicate we can expect this trend to remain.”

The median residential price for a single-family home during June was $240,000, and for a condominium it was $172,500. Last year’s median residential and condominium prices for June were $222,000 and $171,250, respectively.

There were 3,853 sales pending at the end of June, compared with 3,313 pending sales at this time last year. The average number of days on the market for a single-family home was 57 days.

Inventory at the end of June was 13,823, down from 16,167 in June 2014.

“Median prices continue see gains, both in single-family homes and condominiums. There has never been a better time for a seller to get top dollar for their property,” said Stanton. “We hope these solid median prices encourage potential sellers to make a move as the inventory is needed to maintain a healthy market.”

### 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: Greater Nashville Association of REALTORS® (GNAR), GNAR Press Release 070715

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