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Realtor, Tennis Player, Titans & Vols Fan, Nashvillian… Live! Work! Play! in Middle Tennessee

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Warmer Temperatures Contribute to Early Spring for Middle Tennessee Real Estate Market

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Warmer Temperatures Contribute to Early Spring for Middle Tennessee Real Estate Market
Press Release by Greater Nashville REALTORS® | March 7, 2017

HomeforSale 550wNASHVILLE, Tenn. (March 7, 2017) – There were 2,507 home closings reported for the month of February, according to data provided by Greater Nashville REALTORS®.

This represents an increase of 9.3 percent from the 2,293 closings reported in February 2016. Year-to-date closings through February 2017 are 4,918, a 10.3 percent increase from the 4,460 closings reported through February 2016.

“Spring is in the air and in the real estate market,” said Greater Nashville REALTORS President Scott Troxel. “A few days of warmer temperatures helped our region finish strong in February, closing over 2,500 units. We saw year-over-year increase in all categories, with the largest coming in the multi-family sector.

“Recent announcements regarding economic growth from companies like Mars Petcare, LG and SmileDirect will only to continue to drive our market upward,” said Troxel.

There were 2,899 sales pending at the end of the month, compared with 2,735 pending sales at this time last year. The average number of days on the market for a single-family home was 54 days.

The median residential price for a single-family home during February was $258,950, and for a condominium it was $192,400. This compares with median residential and condominium prices of $235,000 and $174,380, respectively, at this time last year.

Inventory at the end of February was 10,372, down from 11,677 in February 2016.

“We typically compare statistics year-over-year, and our inventory is down from 2016. However, the single-family market did pick up in inventory between this past January and February,” said Troxel. “While we still have a way to go to restock our inventory levels, any gain in inventory is good news. This gives buyers more options and alleviates some of the pressure on home prices.”

### Greater Nashville 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 REALTORS® 030717

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Written by Kenneth Bargers

March 7, 2017 at 8:59 pm

Best January on Record for Middle Tennessee Housing Market

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Best January on Record for Middle Tennessee Housing Market
Press Release by Greater Nashville REALTORS® | February 7, 2017

natcheztracebridgemidtn

Natchez Trace Bridge

NASHVILLE, Tenn. (Feb. 7, 2017) – There were 2,411 home closings reported for the month of January, according to figures provided by Greater Nashville REALTORS®. This figure is up 11.2 percent from the 2,167 closings reported for the same period last year.

“Our market just proved you can buy and sell a home during the winter,” said Greater Nashville REALTORS President Scott Troxel. “The winter months are actually a good time for serious buyers. There are fewer properties on the market, but there is also less competition for those properties.

“Not only did we see the best January on record, our market performed better in January than it did in either January or February of last year,” continued Troxel. “Pending sales numbers are also higher. Punxsutawney Phil might have seen his shadow, suggesting six more weeks before we see spring weather, but our data indicates our market may enter the spring selling season sooner.”

There were 2,755 sales pending at the end of the month, compared with 2,212 pending sales at this time last year. The average number of days on the market for a single-family home was 57 days.

The median residential price for a single-family home during January was $261,500 and for a condominium it was $184,350. This compares with last year’s median residential and condominium prices of $242,668 and $179,900, respectively.

Inventory at the end of January was 10,025, compared with 11,352 in January 2016.

“One item to watch will be the impact of President Trump’s suspension on the 25-basis point reduction of mortgage interest premiums on FHA loans,” said Troxel. “Many first-time and low- to moderate-income buyers look to FHA loans as part of their path to homeownership. Realtors are letting the administration know both the importance and impact of FHA loans on the housing market.”

### Greater Nashville 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: Press Release by Greater Nashville REALTORS®, 020717

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Middle Tennessee Home Sales Finish with a Strong Fourth Quarter

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Middle Tennessee Home Sales Finish with a Strong Fourth Quarter
Press Release by Greater Nashville REALTORS® | January 9, 2017

franklintheat125x150NASHVILLE, Tenn. (Jan. 9, 2017) – There were 3,280 closings during the month of December, according to figures provided by Greater Nashville REALTORS® (formerly the Greater Nashville Association of REALTORS). This is a 2.7 percent increase from the 3,194 closings reported for the same period in 2015.

Fourth quarter closings were 9,582 for the Middle Tennessee area. That total is an 11 percent increase from the 8,621 closings during the fourth quarter of 2015.

Final numbers for 2016 indicate there were 38,954 homes sold in the region. Compared to the 36,873 closings in 2015, the total sales for 2016 were up 5.6 percent.

“2016 was an excellent year for real estate in Middle Tennessee,” said Greater Nashville REALTORS President Scott Troxel. “Median prices rose, which was a plus for those selling last year. For buyers, interest rates remained low and for those who we were ready for homeownership, the opportunity to buy was there.

“In particular, the fourth quarter of the year was very solid. According to the data we have available to us, the last quarter of 2016 was the strongest fourth quarter for home sales our region has experienced,” said Troxel. “In terms of the market as a whole, it was the best Greater Nashville has seen in a decade.”

There were 2,612 sales pending at the end of December, compared with 2,678 pending sales at this time last year. The average number of days on the market for a single-family home was 50 days.

The median price for a residential single-family home was $266,408, and for a condominium it was $180,000. This compares with last year’s median residential and condominium prices of $242,945 and $194,183, respectively.

Inventory at the end of December was 9,901 down from 10,846 in December 2015.

“We have a healthy foundation to build on as we enter 2017. For those who will be buying or selling real estate this year, the marks of a good economy – job growth, wage growth, consumer confidence – remain,” said Troxel. “Inventory will continue to plague Nashville’s market, as well as many other markets across the country. Working with a real estate professional, a Realtor, will be a marked advantage to consumers in search of the right property.”

### Greater Nashville 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 REALTORS® Press Release 010917

KENNETH BARGERS REALTOR® License 318311 | Pilkerton Realtors License 257352
(615) 512-9836 cellular • (615) 915-5901 facsimilekb@bargers-solutions.com email
bargers-solutions.com webkennethbargers.com blogSearch Properties
(615) 371-2474 office • (615) 371-2475 facsimile • 2 Cadillac Drive, Brentwood TN 37027 address

Written by Kenneth Bargers

January 9, 2017 at 2:25 pm

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