Home sales in North Carolina and the Greater Nashville, Tenn., area posted mixed results in the last two months but were still on track to break last year’s records, according to Realtor associations in both states.

Sales of existing homes in North Carolina lost some steam in August, with 10,970 residential units sold, according to the North Carolina Association of Realtors. This is 17 percent higher than sales posted during August 2003, but 8 percent lower than sales in July of this year.

More than 75,000 units in North Carolina have been sold on a year-to-date basis, an increase of 23 percent from sales posted during the first eight months of 2003. The average sales price increased 5 percent during the same time period to $193,424.

The average existing-home sales price was $194,380 in August, the association reported.

Areas of the state with the strongest year-to-date sales growth and price appreciation continue to be along the coast. Brunswick County leads the way with a 51 percent increase in total sales dollars, followed closely by Jacksonville, Wilmington and the Outer Banks.

Average year-to-date sales prices vary widely across the state from $100,309 in Fayetteville to $503,714 in the Outer Banks.

In the Greater Nashville region during September, there were 3,117 home closings reported, which represents a 3 percent increase from the 3,015 closings reported for the same period last year, according to the Greater Nashville Association of Realtors.

Third-quarter numbers also continued to rise, with 10,302 closings reported, a 9 percent increase from the 9,406 closings reported for the third quarter of 2003.

Year-to-date closings for the Greater Nashville area are 27,721, up 15 percent from the 23,924 closings reported through third quarter 2003, the best year on record for area home sales in the region.

“Home sales in Greater Nashville have increased throughout the year,” said Jay Lowenthal, president of GNAR. “Figures for the third quarter and for September confirm that the market here remains healthy and balanced. There is typically a seasonal decrease at some point during the final quarter, but 2004 remains on track to be a record year for home sales in the Greater Nashville area.”

The median residential price for a single-family home during September was $149,500, and for a condominium it was $126,000. This compares with last year’s median residential and condominium prices of $141,900 and $118,000, respectively.


What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Connect Now starts tomorrow! Don't miss out.Reserve your seat today.×
Connect Now starts tomorrow! Don't miss out.Reserve your seat today.×