Greater Nashville Exceeds All 2014 Home Sales in November
Press Release by Greater Nashville Association of REALTORS® | December 8, 2015
NASHVILLE, Tenn. (Dec. 8, 2015) – There were 2,397 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is down 3.1 percent from the 2,474 closings reported for the same period last year.
Year-to-date closings through November are 33,679, a 6.9 percent increase from the 30,431 closings reported through November 2014.
“With another full month to go, Middle Tennessee home sales have already exceeded those of 2014,” said GNAR President Cindy Stanton. “Even with a slight dip in year-over-year sales, our market continues to thrive.”
“With the season of the year and the tight inventory levels, the small decline in sales isn’t a surprise. In fact, in active markets such as ours, this leveling out is inevitable and healthy,” said Stanton. “Home prices continue to experience incremental gains and pending sales remain strong, both of which are positive indicators for the sustained strength of our market.”
There were 2,516 sales pending at the end of the month, compared with 2,489 pending sales at this time last year. The average number of days on the market for a single-family home was 58 days.
The median residential price for a single-family home during November was $231,925, and for a condominium, it was $178,002. This compares with last year’s median residential and condominium prices of $215,000 and $165,256, respectively.
Inventory at the end of November was 12,433, compared to 13,715 in November of last year.
“If you are considering putting your home on the market, it’s not too late,” said Stanton. “There are advantages like less competition that come with putting your home on the market now. Check with a Realtor today to learn more about those and get the process started.”
### 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 Press Release 120815
Kenneth Bargers, REALTOR® | Pilkerton Realtors
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