August Brings Home Sales Increase

August Brings Home Sales Increase
Greater Nashville REALTORS®, Press Release September 7, 2018

NASHVILLE, Tenn. (Sept. 7, 2018) – There were 3,961 closings reported for the month of August, according to figures provided by Greater Nashville REALTORS®. This represents a 2.0 percent increase from the 3,883 closings reported for August 2017.

Year-to-date closings total 27,205 a 0.2 percent decrease compared to the 27,248 closings reported through July 2017.

“The numbers in August show a healthy increase in closings compared to August 2017,” said Greater Nashville REALTORS® President Sher Powers. “We’re also seeing strong pending sales as we head into September, which bodes well for fall closings.”

There were 3,152 properties under contract at the end of the month, compared to the 3,939 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 August was $305,000 and for a condominium it was $224,900. This compares with last year’s median residential and condominium prices of $285,000 and $207,061.

Active inventory at the end of August was 12,150, which increased from 9,208 in 2017.

“As inventory shows moderate increases across Middle Tennessee, the market is calming and offering more home options for buyers, which has inspired new buyers to step into the market and more sellers to list their homes,” added Powers.

About Us: 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.

The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.

View the August 2018 Market Data Infographic

Source: Greater Nashville REALTORS®, Press Release 090718

Middle Tennessee Housing Inventory Continues to Rise

Middle Tennessee Housing Inventory Continues to Rise
Greater Nashville REALTORS®, Press Release | August 7, 2018

TheGulchNashvilleNASHVILLE, Tenn. (Aug. 7, 2018) – There were 3,812 closings reported for the month of July, according to figures provided by Greater Nashville REALTORS®. This represents a 1.5 percent decrease from the 3,872 closings reported for July 2017.

Year-to-date closings total 23,242 a 0.5 percent decrease compared to the 23,365 closings reported through July 2017.

“The numbers in July show a slight decrease in closings compared to 2017, but the market remains stable as we continue to see a steady inventory increase,” said Greater Nashville REALTORS® President Sher Powers. “We are pleased to see inventory continue to grow across Middle Tennessee, which is not the case in other markets across the country.”

There were 3,347 properties under contract at the end of the month, compared to the 3,575 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 July was $307,000 and for a condominium it was $222,750. This compares with last year’s median residential and condominium prices of $288,243 and $203,000.

Active inventory at the end of July was 11,671 which increased from 9,151 in 2017.

“The continued increase in inventory can lead to a more balanced and healthy market across Middle Tennessee, calming the steady pricing increases we’ve seen in the past few years, which in turn may inspire buyers on the fence to start their home buying search,” said Powers.

### About Us: 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. ###

The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.

View the July 2018 Market Data Infographic

Source: Greater Nashville REALTORS®, Press Release 080718

Greater Nashville: June Temperatures Bring Healthy Home Sales

Greater Nashville: June Temperatures Bring Healthy Home Sales
Greater Nashville REALTORS® | Press Release; July 9, 2018

NASHVILLE, Tenn. (July 9, 2018) – There were 4,036 home closings reported for the month of June, according to figures provided by Greater Nashville REALTORS®. This figure represents a 3.8 percent increase compared to the 3,887 closings in June 2017.

“The market is heating up. With the rising temperatures, we are seeing homes sell in an average of 26 days and for a slightly higher selling price than in previous months,” said Greater Nashville REALTORS® President Sher Powers. “We continue to see inventory increase, which is very exciting for buyers in the months ahead.”

Data for the second quarter of 2018 showed 11,222 closings, up .6 percent from the 11,155 closings during the second quarter of 2017.

There were 3,379 sales pending at the end of June, compared with 3,914 pending sales at this time last year. The average number of days on the market for a single-family home was 26 days.

The median residential price for a single-family home during June was $314,900 and for a condominium it was $221,850. This compares with last year’s median residential and condominium prices of $293,753 and $199,350 respectively.

Inventory at the end of June was 11,087, a more than 25 percent increase from 8,842 in June 2017.

“Currently REALTORS® across the country are focused on the renewal of the National Flood Insurance Program (NFIP),” stated Powers. “If Congress doesn’t reauthorize the program, it will expire on July 31 denying necessary insurance coverage to homeowners and buyers in more than 20,000 communities nationwide. Middle Tennessee is all too familiar with what flooding can do to an area, and more flooding disasters without insurance will be another blow to a national market already struggling to provide housing for all those who want it.

We urge Congress to extend the NFIP and pass meaningful reforms to ensure the long-term viability of the program.”

View June 2018 Market Graphic Infographic

### About Us: 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 070918

Inventory Increases Across Middle Tennessee Housing Market

Inventory Increases Across Middle Tennessee Housing Market
Press Release by Greater Nashville REALTORS® | June 7, 2018

House 1048NASHVILLE, Tenn. (June 7, 2018) – There were 3,767 closings reported for the month of May, according to figures provided by Greater Nashville REALTORS®. This represents a 4.5 percent decrease from the 3,943 closings reported for May 2017.

Year-to-date closings total 15,396, a 1 percent decrease compared to the 15,606 closings reported through May 2017.

“Greater Nashville had a record setting month last year in May 2017 with the highest number of closings in one month in the history of the region. It is not surprising to see a normalization of the sales in May 2018,” said Greater Nashville REALTORS® President Sher Powers. “The higher number of homes under contract at the end of May 2018, compared to last year, sets the stage for what could be a very strong month of June.”

“Even with rising interest rates we see a healthy and vibrant market with continued strong sales numbers.”

There were 3,575 properties under contract at the end of the month, compared to the 3,540 properties under contract at this time last year. The average number of days on the market for a single-family home was 28 days.

“The increase in residential and condominium inventory is very healthy for the market. We saw a substantial inventory increase in both residential single-family homes and condominiums. This helps balance out a market that has seen a much lower inventory supply.”

The median residential price for a single-family home during May was $299,900 and for a condominium it was $226,000. This compares with last year’s median residential and condominium prices of $279,142 and $205,000, respectively.

Active inventory at the end of May was 9,511 which increased from 8,557 in 2017.

About Us: 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.

View the May 2018 Market Data Infographic

Source: Greater Nashville REALTORS® Press Release June 7, 2018

 

Greater Nashville April Home Sales Bring Increases in Sales and Inventory

Greater Nashville April Home Sales Bring Increases in Sales and Inventory
Press Release by Greater Nashville REALTORS® | April 7, 2018

NASHVILLE, Tenn. (May 7, 2018) – There were 3,419 home closings reported for the month of April, according to figures provided by Greater Nashville REALTORS®. This represents an increase of 2.8 percent from the 3,325 closings reported for April 2017.

Year-to-date closings total 11,629. That is a .3 percent decrease compared to the 11,663 closings reported through April 2017.

“Home sales for the second quarter started with the types of positive gains expected for this time of the year,” said Sher Powers, Greater Nashville REALTORS® President. “The most encouraging gain is in inventory, particularly in the residential and condominium classes.

“While demand has remained high, the supply struggle has had a mild impact on our market,” said Powers. “The addition of inventory from new home construction and current homeowners placing their homes on the market is welcomed by potential buyers and will provide a modicum of relief to the supply-demand tension.”

There were 3,430 sales pending at the end of the month, compared to the 3,540 pending sales at this time last year. The average number of days on the market for a single-family home was 32 days.

The median residential price for a single-family home during April was $295,000 and for a condominium it was $222,750. This compares with last year’s median residential and condominium prices of $275,000 and $195,255, respectively.

Inventory at the end of April was 8,876, up from 8,481 in 2017.

“A growing supply of homes in all price ranges is a must for a healthy and balanced market,” said Powers. “It provides housing opportunities and options for immediate buyer needs, which is important currently. But, with announcements like the relocation of the AllianceBernstein headquarters to Nashville later this year, a solid inventory is also necessary to provide a depth of options for future buyers.”

### 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 050718