Home sales in the Nashville, Tenn., area climbed for the second straight month in October as prices maintained healthy growth, the Greater Nashville Association of Realtors reported.
Realtors recorded 3,331 home sales last month, up 3.5 percent from the 3,216 sales in October 2005. Total sales figures include single-family, condos, multifamily, farms, land and lots.
Year-to-date closings through October totaled 33,807, a 3.9 percent increase from the 32,527 closings reported through October 2005.
“Greater Nashville is very fortunate to be sustaining such an active market for home sales,” said GNAR President Christie Wilson. “The consistent good news of companies and families relocating here gives us reason to believe the healthy market will continue. We are enjoying a steady pace that is keeping us on track for 2006 to be another record-breaking year.”
The median residential price for a single-family home during October was $183,400, up from $178,900 in September, and up 8.3 percent from $169,400 a year earlier.
For condos, the median price registered $171,900 last month, up from $153,841 in September, and up approximately 23 percent from $139,845 a year ago.
Inventory at the end of October totaled 17,385 listings, up slightly from 17,316 in September, and up 23.8 percent from the year-ago level of 14,039.
The average number of days on the market for a single-family home was 61 days, unchanged from a year ago, but up from 57 days in September.
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.