FEBRUARY RAIN DIDN’T STOP INCREASE IN HOME SALES
“It is very exciting to see home sales steadily increase compared to this time last year,” said Greater Nashville REALTORS® President Andrew Terrell. “This growth continues to prove that the Middle Tennessee housing market is vibrant and healthy.”
A comparison of sales by category for Feb. is:
|
2018 |
2019
|
|
| CLOSINGS |
2,466 |
2,536 |
| Residential |
1,996 |
2,086 |
| Condominium |
250 |
301 |
| Multi-Family |
32 |
19 |
| Farms/Land/Lots |
188 |
130 |
There were 2,974 sales pending at the end of February, compared to 3,307 pending sales at this time last year. The average number of days on the market for a single-family home was43 days.
The median price for a residential single-family home was $294,486 and for a condominium it was $214,900.
This compares with last year’s median residential and condominium prices of $289,093 and $214,250 respectively.Inventory at the end of February was 10,745, up from 8,359 in February 2018.
The current inventory of properties by category, compared to last year, is:
|
2018 |
2019
|
|
| INVENTORY |
8,359 |
10,745 |
| Residential |
5,569 |
7,474 |
| Condominium |
548 |
932 |
| Multi-Family |
56 |
69 |
| Farms/Land/Lots |
2,186 |
2,270 |
|
|
|
“We are pleased to see inventory continue to increase in various price points allowing more options for consumers. This combined with the still growing home sale prices show a very optimistic outlook as we head into the spring months,” added Terrell.
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.
courtesy of: https://www.greaternashvillerealtors.org/news/february-rain-didn%E2%80%99t-stop-increase-home-sales
