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
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription