Middle Tennessee Home Sales Begin Taking Shape for Spring

Middle Tennessee Home Sales Begin Taking Shape for Spring
Press Release by Greater Nashville REALTORS® | April 9, 2018

House 1040NASHVILLE, Tenn. (April 9, 2018) – There were 3,446 home closings reported for the month of March, according to figures provided by Greater Nashville REALTORS®. This figure represents a .7 percent increase compared to the 3,420 closings in March 2017.

Data for the first quarter of 2018 showed 8,210 closings, down 1.5 percent from the 8,338 closings during the first quarter of 2017.

“March is the early start of the spring home buying and selling season, and it marked a turning point for sales in the region with our first increase in year-over-year sales this year,” said Greater Nashville REALTORS® President Sher Powers. “The data shows what is typical for this time of year, with increases in closings, price and inventory. The strong number of pending home sales indicates a solid season ahead for our market.”

There were 4,076 sales pending at the end of March, compared with 3,739 pending sales at this time last year. The average number of days on the market for a single-family home was 34 days.

The median residential price for a single-family home during March was $297,915 and for a condominium it was $218,600. This compares with last year’s median residential and condominium prices of $273,500 and $199,900, respectively.

Inventory at the end of March was 8,521, down slightly from 8,568 in March 2017.

“April is recognized nationally as Fair Housing Month. This year is even more significant as we celebrate the 50th anniversary of the Fair Housing Act. REALTORS® are long-standing proponents of equal opportunity in housing and will continue working to ensure quality housing is available for all,” said Powers.

••• 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 040918

Greater Nashville: Decreased Inventory Options Keep Home Buyers at Bay in February

Greater Nashville: Decreased Inventory Options Keep Home Buyers at Bay in February
Press Release by Greater Nashville REALTORS® | March 7, 2018

House 1033NASHVILLE, Tenn. (March 7, 2018) – There were 2,466 home closings reported for the month of February, according to data provided by Greater Nashville REALTORS®.

This represents a decrease of 1.6 percent from the 2,507 closings reported in February 2017. Year-to-date closings through February 2018 are 4,764, a 3.1 percent decrease from the 4,918 closings reported through February 2017.

“The winter months of December, January and February had an available housing supply of about 1.3 months available, causing some buyers to elect to wait until the potential for a larger inventory selection in spring to purchase a home,” said Greater Nashville REALTORS President Sher Powers. “A less than two percent drop in sales reflects a symptom that a thriving city will experience as more people want to live here.”

There were 3,307 sales pending at the end of the month, compared with 2,899 pending sales at this time last year. The average number of days on the market for a single-family home was 36 days.

The median residential price for a single-family home during February was $289,093, and for a condominium, it was $214,250. This compares with median residential and condominium prices of $258,950 and $192,400, respectively, at this time last year.

Inventory at the end of February was 8,359, down from 8,464 in February 2017.

“As spring approaches, housing inventory is expected to increase, as will housing competition,” said Powers. “The desirability of living in Greater Nashville has caused limited supply, particularly in the entry level and up to the median point price ranges. This is an opportunity to have conversations with affordable housing providers regarding new construction, infill and density.”

Source: Greater Nashville REALTORS® Press Release 030718

2017 Best Year on Record for Middle Tennessee Housing

2017 Best Year on Record for Middle Tennessee Housing
Greater Nashville REALTORS® Press Release, January 8, 2018

Nashville Houses 1000NASHVILLE, Tenn. (Jan. 8, 2018) – There were 3,246 closings during the month of December, according to figures provided by Greater Nashville REALTORS®. This is a 1 percent decrease from the 3,280 closings reported for the same period in 2016.

Fourth quarter closings were 9,690 for the Middle Tennessee area. That total is a 1.1 percent increase from the 9,582 closings during the fourth quarter of 2016.

Final numbers for 2017 indicate there were 40,482 homes sold in the region, breaking the 2006 record of 40,056 closings. Compared to the 38,954 closings in 2016, the total sales for 2017 were up 3.9 percent.

“2017 was a record-setting year in many ways for Middle Tennessee’s housing market,” said Greater Nashville REALTORS® President Sher Powers. “From single month sales records to new highs in median price, buyers and sellers worked together to boost our market. All of this activity resulted in our region experiencing the best year on record for home sales.”

“Until now, 2006 had been the strongest year for real estate with 40,056 closings,” said Powers. “Despite uncertainty regarding tax reform and low inventory, buyers and sellers were determined to reach their real estate goals, whether that was through home ownership, real estate investment or any of the other avenues of real estate.”

There were 2,471 sales pending at the end of December, compared with 2,209 pending sales at this time last year. The average number of days on the market for a single-family home was 30 days.

The median price for a residential single-family home was $294,000, and for a condominium it was $209,450. This compares with last year’s median residential and condominium prices of $266,408 and $180,000, respectively.

Inventory at the end of December was 9,011 down from 9,330 in December 2016.

“Though we know there will be challenges in the market this year, our market has a solid foundation,” said Powers. “For anyone looking to take action – buying, selling or leasing – options will be available. Making the choice to work with a REALTOR®, a real estate professional with market expertise, will be a competitive advantage for consumers.”

### 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 010818

Nashville-Area Home Sales Up 6 Percent in November

Nashville-Area Home Sales Up 6 Percent in November
Article by Greater Nashville REALTORS®, Press Release 120717

House 1022NASHVILLE, Tenn. (Dec. 7, 2017) – There were 3,177 home closings reported for the month of November, according to figures provided by Greater Nashville REALTORS®. This figure is up 6.7 percent from the 2,978 closings reported for the same period last year.

Year-to-date closings for the Greater Nashville area were 37,236 at the end of November. That is an increase of 4.4 percent from the 35,674 closings, reported through November 2016.

“Sales are up 6.7 percent year-over-year. Typically, sales drop in the fall and days-on-market expand. October to November of 2017 saw that same pattern,” said Greater Nashville REALTORS® President Scott Troxel.

“Sellers are more hesitant in putting their homes on the market during the holidays and colder months, and conversely, traffic from buyers also slows during this time. However, those who are in the market during the next few months, whether buying or selling, are serious about making a move in the market.

“Fewer properties on the market means less competition for sellers. When potential buyers are gift shopping more than they are home shopping, that also means less competition for determined buyers. If buying or selling real estate is a priority for you, now is a good time to move forward,” said Troxel.

There were 2,906 properties under contract at the end of the month, compared to the 2,591 properties under contract at this time last year. The average number of days on the market for a single-family home was 29 days.

The median residential price for a single-family home during November was $285,000 and for a condominium, it was $216,751. This compares with last year’s median residential and condominium prices of $259,900 and $182,390, respectively.

Active inventory at the end of November was 9,454, down from 9,946 in 2016.

“Middle Tennessee is still on track to end 2017 with a record year for our housing market. The positive trends needed to sustain a healthy market – modest growth in sales and prices – continue to mark our region,” said Troxel.

### 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 120717


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Nashville Area Housing Market Holds Steady Entering the Fourth Quarter

Nashville Area Housing Market Holds Steady Entering the Fourth Quarter
Press Release by Greater Nashville REALTORS® | November 7, 2017

Nashville Zoo Image 1NASHVILLE, Tenn. (Nov. 7, 2017) – There were 3,267 home closings reported for the month of October, according to figures provided by Greater Nashville REALTORS®. This figure is down 1.7 percent from the 3,324 closings reported for the same period last year.

Year-to-date closings for the Greater Nashville area were 34,059 at the end of October. That is an increase of 4.2 percent from the 32,696 closings, reported through October 2016.

“Through all of 2017, the Middle Tennessee region witnessed significant increases in year-over-year sales,” said Greater Nashville REALTORS® President Scott Troxel. “October showed a modest decline in the number of properties sold. Residential properties saw just 15 fewer sales in October compared to 2016. A minor adjustment like this is not cause for alarm. Our market’s dynamics are very positive, both in the local economy and the housing market. We expect to see a typical lull in the fall and holidays, followed by renewed energy in January.”

There were 3,358 properties under contract at the end of the month, compared to the 3,083 properties under contract at this time last year. The average number of days on the market for a single-family home was 27 days.

The median residential price for a single-family home during October was $277,642 and for a condominium, it was $208,000. This compares with last year’s median residential and condominium prices of $261,000 and $186,000, respectively.

Active inventory at the end of October was 9,564, down from 10,177 in 2016.

“REALTORS® had hoped proposed tax reform would lead to needed changes; unfortunately, the current proposals are going to hurt current and potential homeowners,” said Troxel. “Measures like placing limits on the use of the Mortgage Interest Deduction and the elimination of deductions for state and local sales and income tax will reverse the incentives for homeownership. Considering that homeowners pay between 80 and 90 percent of all federal incomes taxes, they shouldn’t be penalized through tax reform. REALTORS® are working fervently to protect homeownership and homeowners.”

### 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 110717


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Greater Nashville: Region’s Housing Market on Pace for Record Year in Sales

Greater Nashville: Region’s Housing Market on Pace for Record Year in Sales
Press Release by Greater Nashville REALTORS® | October 9, 2017

House 1023NASHVILLE, Tenn. (Oct. 9, 2017) – There were 3,544 closings reported for the month of September, according to figures provided by Greater Nashville REALTORS®. This represents an increase of 2.0 percent over the 3,474 closings reported for September 2016.

Third quarter numbers experienced a 3.5 percent increase from 2016 with 11,299 closings reported, compared to last year’s third quarter closings of 10,920.

Year-to-date closings for the Greater Nashville area are 30,792. That total is up 4.8 percent from the 29,372 closings reported through the third quarter of 2016.

“For a month where home sales begin to slow, this past September turned out to be remarkable for our region. Middle Tennessee achieved the best performing month of September that we have on record,” said Greater Nashville REALTORS® President, Scott Troxel. “Yes, overall home sales are slowing down, as is typical for this time of year. But, the September success sends a strong message about the importance and attractiveness of homeownership.”

There were 3,292 properties under contract at the end of the month, compared to the 3,234 properties under contract at this time last year. The average number of days on the market for a single-family home was 27 days.

The median residential price for a single-family home during September was $280,000 and for a condominium, it was $223,450. This compares with last year’s median residential and condominium prices of $256,900 and $188,495, respectively.

Active inventory at the end of September was 9,358, down from 10,350 in 2017.

“Sales are up incrementally for both the quarter and year-to-date compared to last year, keeping us on track to the best housing market we’ve ever had,” said Troxel. “That said, we have to work to keep our market healthy and an attractive place to live. Greater Nashville REALTORS® is actively working with the Transit for Nashville Coalition to help bring solutions to our congestion and traffic woes, problems that can cause current and future residents to choose elsewhere to call home. Nationally, the National Association of REALTORS® is closely monitoring proposed changes to the tax plan to ensure homeowners aren’t hurt in the process.”

Source: Greater Nashville REALTORS®, Press Release 100917


Kenneth Bargers, REALTOR® License 318311 ♦ Pilkerton Realtors License 257352
(615) 512-9836 cellular ♦ (615) 371-2474 office
kb@bargers-solutions.com emailkb@kennethbargers.realtor email
www.bargers-solutions..com webkennethbargers.com blog
2 Cadillac Drive, Brentwood, Tennessee 37027 address

Greater Nashville August Home Sales Strengthen; Condominiums Set Record Median Price

Greater Nashville August Home Sales Strengthen; Condominiums Set Record Median Price
Press Release by the Greater Nashville REALTORS® | September 7, 2017

House 1018NASHVILLE, Tenn. (Sept. 7, 2017) – There were 3,883 closings reported for the month of August, according to figures provided by Greater Nashville REALTORS®. This represents an increase of 3.8 percent over the 3,741 closings reported for August 2016.

Year-to-date closings total 27,248. That is a 5.2 percent increase compared to the 25,898 closings reported through August 2016.

“2017 has proven to be a remarkable and record-setting year in the real estate industry,” said Greater Nashville REALTORS® President Scott Troxel. “August continued the trend of rising sales, being up three percent over last August. In fact, this is the best month of August we have had in this region in over a decade.

“August was a particularly notable month for condominiums. The condo market experienced its highest median price on record at $207,061. As a whole, the first-time buyer price range, which includes many condominiums, is particularly sparse in terms of inventory, so the rise in median price is understandable. We look expectantly to the building of new units and current owners listing their properties as a way to alleviate some of the strain many first-time buyers are experiencing in the market.”

There were 3,939 properties under contract at the end of the month, compared to the 3,447 properties under contract at this time last year. The average number of days on the market for a single-family home was 25 days.

The median residential price for a single-family home during August was $285,000 and for a condominium, it was $207,061. This compares with last year’s median residential and condominium prices of $253,000 and $189,900, respectively.

Active inventory at the end of August was 9,208, down from 10,270 in 2016.

“Renewing the National Flood Insurance Program (NFIP) is one of the highest priorities for the National Association of REALTORS®. Middle Tennessee is all too familiar with what flooding can do to an area, and Hurricane Harvey certainly shifted the country’s focus to the impact and devastation a water and weather event can cause,” said Troxel. “This type of natural disaster is another blow to a national market already struggling to provide housing for all those who want it. Greater Nashville REALTORS® proudly financially supported both NAR’s REALTORS® Relief Foundation and the Texas REALTORS® Relief Fund who are helping to provide shelter for the many who have lost it.”

### 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 090717

Kenneth Bargers REALTOR® License 318311  |  Pilkerton Realtors License 257352
(615) 512-9836 cellular  •  (615) 915-5901 facsimile  •  kb@bargers-solutions.com email
bargers-solutions.com web  •  kennethbargers.com blog  •  Search Properties
(615) 371-2474 office  •  (615) 371-2475 facsimile  •  2 Cadillac Drive, Brentwood TN 37027 address
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