As the seasons change and we begin seeing signs of fall, the Nashville real estate market continues to rise.
Last week the Greater Nashville Association of Realtors® released home sales data for August and our region saw another year-over-year rise. Specifically, closings were up 3 percent over August of 2013. Pending home sales, those that are expected to close in the next month, were also strong at over 3,000 units. These statistics give us good reason to believe we’ll see no falling off in home sales as we enter the fall months.
Another figure not seeing a decline is median price for single-family homes. Our region saw nearly a 13 percent increase in price over last August. The median residential price for a single-family home during August was $219,000, and this compares with last year’s median residential price of $194,000.
Inventory remains low and continues to decline, which is actually the case in all categories this month. The demand from buyers for well-prepared and aptly priced properties remains strong in Greater Nashville and Middle Tennessee.
Whether you are buying or selling a home, now is a great time to do so in Nashville and Middle Tennessee. Contact us at 615-463-3333 or stop by our office at 2002 Richard Jones Road, Suite C-104; Nashville 37215.