Home sales in the Greater Nashville, Tenn., area jumped 10.9 percent in September from their year-ago level, according to figures provided by the Greater Nashville Association of Realtors.
Realtors reported 3,457 home closings last month, up from 3,117 closings in September 2004.
Year-to-date closings for the Greater Nashville area totaled 29,311, up 5.7 percent from the 27,721 closings reported through third-quarter 2004, the best year on record for area home sales in the region.
“The residential real estate market in Greater Nashville continues to be healthy and vibrant. It is on track to set another record for home sales this year,” said Richard Exton, president of GNAR. “We are especially pleased to see the strong number of closings for September. They are higher than expected, as we usually see a seasonal adjustment in activity at this point in the year.”
The average number of days on the market for a single-family home was 58 days, down from 67 days for September 2004.
The median residential price for a single-family home during September was $162,610, up 8.8 percent from $149,500 reported a year ago. The median price for a condo last month was $135,000, up 7.1 percent from $126,000 in September 2004.
Inventory at the end of September was 13,888, down from 14,741 in September 2004.
“Inventory continues to be lower than it was at the same time last year, but is holding steady at just under 14,000 available properties. That provides a good selection of homes based on current sales activity,” Exton said. “Median prices have increased this year, and the September increase is consistent with what we have seen for the past several months.”
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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