Home sales in the Greater Nashville, Tenn., area posted another month of double-digit growth in February, the Greater Nashville Association of Realtors reported.

There were 2,610 home closings reported for the month of February, up 11.6 percent from the 2,337 closings reported a year ago. Year-to-date closings through February are 4,981, a 12 percent increase from the 4,448 closings reported through February 2005.

“Home sales in Greater Nashville continued the strong start to this year with a double-digit increase over last year,” said GNAR President Christie Wilson. “This region is fortunate to have such a strong housing market, particularly in light of national stories about slowing growth being experienced in many other parts of the country.”

The median residential price for a single-family home during February was $164,900, up 9.9 percent from $150,000 reported a year ago. The median condo price last month was $145,000, up 12.4 percent from the February 2005 price of $129,000, but was down from $150,715 reported in January.

The average number of days on the market for a single-family home was 64 days, down considerably from 79 days for February 2005.

Inventory at the end of February was 13,754, up from 13,133 in February 2005.

“Inventory is up 4.7 percent compared to last year, and that’s great news for buyers,” Wilson said. “The available inventory is likely to continue to increase for the next several months, as is consistent with seasonal trends. However, when the number of closings is compared with the amount of inventory, the market still appears to be very balanced and healthy throughout Greater Nashville.”

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.

***

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.
Success!
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
×