Middle Tennessee home sales virtually remained steady for August There were 3,741 closings in August compared to 3,770 closings for the same period last year. This represents a .8% decrease. The Middle Tennessee housing market is still struggling with inventory so a decrease in home sales is not unusal.
Year-to-date closings for the Greater Nashville area have increased 4.4%. There were 25,898 closings, compared with 24,808 closings reported through August of last year.
Home prices dropped 5.4% in August from last month to a median price of $253,000. However, median home prices are still up 7.6% compared to this same period last year.
This is the typical time of year that the housing market tends to slow down. There are still a number of pending home sales and is a good indicator of active buyers and sellers going into the fall.
For more detailed information on what is happening in the housing market or to find out what the market is like in your particular neighborhood, please reach out to me.
Janis J. Martin
Realtor, ABR, ASP, CRS, C-RCS, GRI, GREEN, SFR, SRES
Keller Williams Realty
9175 Carothers Parkway, Suite 110
Franklin, TN 37067
Cell | 615.478.6906
KW main | 615.778.1818
When one door closes, another one opens…