There was a 9.7% increase in home sales for the same period last year. The Greater Nashville Association of Realtors (GNAR) stated that there were 3,324 home closings in October, compared to the 3,030 closings for the same period last year.
Year-to-date closings total 32,696, which represents a 4.5% increase compared to the 31,282 closings through October 2015.
At the end of October, there were 3,306 sales pending, compared to the 2,905 sales pending for the same period last year. The average number of days on the market for a single-family home was 51 days, which is down from last month.
The median residential price for a single-family home during October was $261,000 and for a condominium it was $186,000. This compares with last year’s median residential and condominium prices of $230,000 and $171,377, respectively.
Inventory at the end of October was 11,785, down from 12,894 in October 2015.
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…