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HomeNewsTN Home Prices Continue to Rise

TN Home Prices Continue to Rise

There were 8,057 single-family home closings in Tennessee in June 2019, down 4 percent from a year earlier, while the median price rose and available homes tightened, according to data compiled by Tennessee REALTORS®, the state industry association.

Single-family home sales slipped from 8,392 closings to 8,057, the median price grew 8.1 percent ($235,000 to $254,000), and available inventory was down 18 percent (24,027 to 19,693 properties).

Meanwhile, Tennessee condominium sales were down 12.4 percent (315 closings to 276), while the median condo price rose 16.9 percent ($154,000 to $180,000), and condo inventory fell 35 percent (916 to 594) over June 2018.

For the second quarter of 2019 (April-May-June), home sales rose 2.1 percent (23,578 to 24,064), and the median price increased 7 percent ($228,500 to $244,500). Condo sales slipped 2.6 percent (891 to 868), and the median condo price rose 9.4 percent ($156,531 to $171,250).

Clark Shelton
Clark Shelton
Cark Shelton lived in Franklin, Tn for over 20 years and has been with the company since its first year. Clark’s background in sales, web development and writing gives him the ability to wear many hats. Clark currently splits his time between Franklin and Cancun, Mexico.