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Marching Along: Home Sales are Still Up !

Posted by Wesley Willoughby on Friday, April 10, 2020 at 9:55 AM By Wesley Willoughby / April 10, 2020 Comment

Home Sales Continue to Rise Despite Uncertainty
NASHVILLE, Tenn. (Apr. 7, 2019) – There were 3,346 home closings reported for the month of March, according to figures provided by Greater Nashville REALTORS®. This figure indicates a 3.4 percent increase from the 3,237 closings reported for the same period last year.  
Data for the first quarter of 2020 showed 8,776 closings, a 9.1 percent increase from the 8,047 closings during the first quarter of 2019.
"It is exciting to see that despite uncertain times, we are still seeing continued increases in home sales, said Kristy Hairston, Greater Nashville Realtors® president.” Consumers need to know; Realtors® are working hard to help people achieve the dream of homeownership.”

A comparison of sales by category for March is:
  2019
 2020
CLOSINGS
 3,237 3,346
Residential 
 2,703 2,833
Condominium
 361 350
Multi-Family 25 12
Farms/Land/Lots 148
 151
 
A comparison of sales by category for the first quarter/year-to-date is:

  2019
 2020
CLOSINGS
 8,047 8,776
Residential 
 6,677 7,304
Condominium
 909 970
Multi-Family 62 65
Farms/Land/Lots 399 437
 
There were 3,139 sales pending at the end of March, compared to 3,158 pending sales at this time last year. The average number of days on the market for a single-family home was 37 days.

The median price for a residential single-family home was $330,000 and for a condominium it was $240,238. This compares with last year’s median residential and condominium prices of $305,000 and $223,000 respectively.

Inventory at the end of March was 9,677 down from 11,276 in March 2019.

The current inventory of properties by category, compared to last year, is:
  2019
 2020
INVENTORY 11,276 9,677
Residential 7,941 6,815
Condominium 965 862
Multi-Family  81 54
Farms/Land/Lots 2,289 1,946

“April is recognized nationally as Fair Housing Month. Realtors are long-standing proponents of equal opportunity in housing and will continue working to ensure quality housing is available for all. Now more than ever, Realtors are committed to ensuring Fair Housing remains available for all,” 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. 

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