Home sales in the Greater Nashville, Tenn., area continued their upward trend in August and set a record, according to figures provided by the Greater Nashville Association of Realtors.
Realtors reported 3,909 home closings in August, up 9.8 percent from the 3,558 closings in August 2004.
“The more than 3,900 home sales in August represents the highest number of closings Greater Nashville has ever had in one month, breaking the record set just last month. With that in mind, the second half of this year is really off to a great start,” said Richard Exton, president of GNAR.
Condo sales last month totaled 480, up 49 percent from 322 reported a year ago.
In comparing year-to-date closings for the Greater Nashville area, there were 25,854 closings in 2005, up 5 percent from the 24,604 closings reported through August of last year.
The average number of days on the market for a single-family home was 62 days, down from 66 days for August 2004 but up from 61 days reported in July 2005.
The median residential price for a single-family home during August was $164,000, up 12.7 percent from $145,500 a year ago. The median condo price in August was $132,900, up 6.3 percent from $125,000 during the same month last year.
Inventory at the end of August was 13,857, down 7.5 percent from 14,987 in August 2004.
The Greater Nashville Association of Realtors is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners.
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