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November Numbers Are In: Still Rocking in Real Estate Sales

Posted by Wesley Willoughby on Monday, December 16, 2019 at 5:39 PM By Wesley Willoughby / December 16, 2019 Comment
Home Sales Increase 9.4 percent in November
 (December 9, 2019) – There were 3,232 home closings reported for the month of November according to figures provided by Greater Nashville REALTORS. This figure is up 9.4 percent from the 2,954 closings reported for the same period last year.

"November was a great month," said Andrew Terrell, Greater Nashville REALTORS® president." A large number of pending sales in October, led to a strong finish for November."

A comparison of sales by category for November is: 
  2018
 2019
CLOSINGS
 2,954 3,232
Residential 
 2,460 2,706
Condominium
 328 356
Multi-Family 25 27
Farms/Land/Lots 141
 143
There were 2,801 sales pending at the end of November, compared to 3,076 pending sales at this time last year. The average number of days on the market for a single-family home was 33 days.

The median price for a residential single-family home was $322,500 and for a condominium, it was $242,900. This compares with last year’s median residential and condominium prices of $295,000 and $221,250 respectively.

Inventory at the end of November was 10,841 down from 12,004 in November 2018.

The current inventory of properties by category, compared to last year, is:
  2018
 2019
INVENTORY 12,004 10,841
Residential 8,443 7,627
Condominium 1,051 913
Multi-Family  81 50
Farms/Land/Lots 2,429 2,251

"The current local market is vibrant and healthy. Job expansion, lower mortgage rates and higher wages are driving the housing market. If you are looking to buy or sell a home, contact a Realtor. It is critical in our thriving economy to have a Realtor help consumers navigate the market," added Terrell.
source: GreatorNashvilleRealtors.com

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