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February Market News

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

Posted in: Blog, Buyers, Clients, Real Estate News, Sellers Tagged: home sales, market, nashville realtor, tennessee

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About

The purchase or sale of YOUR home is one of the biggest decisions and investments you'll ever make. The process can be complex and sometimes stressful. As your REALTOR, my job is "YOUR interests"...above all else. My job is to represent my clients to the best of my ability, walking you through the process...one step at a time...negotiating the best price and terms...and seeing that all details are taken care of. I'm a Nashville... Read more

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Adam Helton, Nashville TN Realtor

Benchmark Realty, LLC
License #258560
615-668-4663 Direct
615-371-1544 Office
615-371-6310 Fax

adam@adamhelton.com

318 Seabord Ln. Suite 115
Franklin, TN 37067
Office Firm License #259153

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