Industry News

Nashville real estate sales break double digits

Homes sell more quickly in September

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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 medi...