There were 2,632 home closings reported for the month of January, according to figures provided by Greater Nashville Realtors®. This figure is up 15.7 percent from the 2,274 closings reported for the same period last year.
“The housing market is off to a great start for 2020,” said Kristy Hairston, Greater Nashville Realtors® president. With increased sales in January, a large number of pending sales and low mortgage rates, February looks to be another active month in the Greater Nashville Area.”
A comparison of sales by category for January is:
There were 3,117 sales pending at the end of January, compared to 2,853 pending sales at this time last year. The average number of days on the market for a single-family home was 40 days.
The median price for a residential single-family home was $305,950, and for a condominium it was $239,000. This compares with last year’s median residential and condominium prices of $293,650 and $200,100 respectively.
Inventory at the end of January was 9,410, down from 11,150 in January 2019.
“Demand is outpacing inventory, which leads to higher prices. Working with a Realtor can help you determine your best housing option. Shopping for homes is not just price comparisons online; it’s understanding neighborhoods, school options, and evaluating what the right move is for you. More than an app, a Realtor® walks with you every step of the way in your homeownership journey. If you are interested in learning more about becoming a homeowner, contact a Realtor®,” added Hairston.
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.