Home Sales Soar as Spring Turns to Summer
NASHVILLE, Tenn. (June 7, 2019) – There were 4,172 home closings reported for the month of May according to figures provided by Greater Nashville REALTORS®. This figure is up 10 percentfrom the 3,767 closings reported for the same period last year. 
“The Greater Nashville housing market has hit an all-time high with record breaking sales,” said Andrew Terrell, Greater Nashville REALTORS® president. “With over 4,100 closings, the market has surpassed the highest month on record, which was in June 2018.”
| 2018 | 2019 | |
| CLOSINGS | 3,767 | 4,172 |
| Residential | 3,135 | 3,461 |
| Condominium | 403 | 473 |
| Multi-Family | 31 | 41 |
| Farms/Lands/Lots | 198 | 197 |
There were 3,940 sales pending at the end of May, compared to 3,575 pending sales at this time last year. The average number of days on the market for a single-family home was 32 days.
The median price for a residential single-family home was $318,000 and for a condominium it was$232,000. This compares with last year’s median residential and condominium prices of $299,900 and $226,000 respectively.
Inventory at the end of May was 11,576, up from 10,912 in May 2018.
The current inventory of properties by category, compared to last year, is:
| 2018 | 2019 | |
| INVENTORY | 10,912 | 11,576 |
| Residential | 7,678 | 8,254 |
| Condominium | 832 | 982 |
| Multi-Family | 75 | 72 |
| Farns/Lands/Lots | 2,327 | 2,268 |
“Every day, more and more people are moving to Nashville, and with this comes increased sales, increased inventory and rising home sale prices. It is critical that consumers have a competitive edge in our market, and the best way to achieve a competitive edge is to use a Realtor. Realtors are not just agents; they are professional members of the National Association of Realtors and subscribe to a strict code of ethics which protects consumers,” added Terrell.
Source: https://www.greaternashvillerealtors.org/
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