For a couple months in a row now, we’ve been able to report that Nashville’s real estate market has been showing signs of positive growth. Granted, home sales tend to slow in the summer and we did see slightly lower numbers for July over June. However, this could also be due to the low inventory in the market currently.
Here’s a breakdown of the Nashville home sales for July*
- There were 3,258 home closings reported for June
- This was a 3.2% increase from home sales last year
Total sales for 2014 is still holding at 3.2 % increase from 2013. Even more exciting is that the average price for both houses and condos remains up by almost $20,000.
Both condo sales and residential sales were up again for July, as were farm/land and lot sales. The lower inventory is absolutely having an impact on things as there is less available in every real estate category across the board right now.
Those considering selling a Nashville home right now may be interested in the average price for home and condo sales in July:
- The median price for a single-family house was $221,000 compared to $204,000 in 2013
- The median price for a condo was $170,000 compared to $154,500 in 2013
Much of the country is struggling with low inventory and Nashville is in the same spot. This is fantastic news for sellers as right now is a great time to get your house on the market before winter. The average number of days a single-family home stayed on the market in July was 64, which puts closing well before the holidays!
Are you thinking of selling you home in the Nashville area? Call us and we can help! Looking for real estate listings in Nashville? Check out the current inventory here.
* all numbers provided by the Greater Nashville Association of REALTORS