Nashville Home Sales Steadily Increasing

Nashville Home Sales Steadily Increasing

Home sales in the Nashville area continued their hot streak in April, increasing by 27 percent compared to a year ago, according to the Greater Nashville Association of Realtors. There were 2,780 closings reported for the month, compared to 2,186 in April 2012. 

  • Year-to-date, home sales are up 24 percent compared to 2012. The last time there were more than 2,700 closings in a month was August 2007, with 3,359.
  • There were 2,984 sales pending at the end of April, compared to 2,436 pending sales a year ago. The average single family home sold in April had been on the market for 76 days. 
  • The median price for a single-family home sold in April was $185,000, up from $165,120 a year ago. 
  • The median price for a condo unit was $163,800, up from $141,190. 
  • Nashville's total inventory of homes, condos and lots stood at 16,696 at the end of April, down from 19,622 a year ago. 
It is encouraging to see that median prices for both single-family homes and condominiums are up significantly this month. Some consistency in price increases will likely prompt more people to seriously consider selling their homes.

Jeremy Flax Headshot
Phone: 615-582-0909
Dated: May 13th 2013
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