Industry News

Nashville real estate heats up

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Home sales in the Greater Nashville, Tenn., area maintained near-record levels in July, according to figures provided by the Greater Nashville Association of Realtors. There were 3,819 home closings reported for the month of July, up 5.2 percent from the 3,627 closings reported for the same period last year. Year-to-date closings for the Greater Nashville area totaled 21,950, up 4.2 percent from the 21,046 closings reported through July 2004. "It is encouraging to see the second half of 2005 begin by continuing the record pace set by the first half of the year," said GNAR President-elect Christie Wilson. "In July, home sales climbed above 3,800 for the second consecutive month and only the second time in Greater Nashville's history." The average number of days on the market for a single-family home was 61 days, slightly lower than the 64 days for July 2004. The median residential price for a single-family home during July was $166,400, up 9.5 percent from $151,900 in July 200...