The figures have just been released, Greater Nashville home sales jumped 28% in August when compared to last year! According to the Greater Nashville Association of Realtors, we had 2,047 residential closings reported this past month, up from the 1,594 reported in the same period last year.
Closing in all catagories increase
In fact, closings in all categories increased for August this year. GNAR President, Alice Walker, told the Nashville Business Journal that this is the second consecutive month that single family home prices have been consistent. Howver, total closings are still down 4.6 percent from the 2010 numbers.
Positive signs ahead
But looking ahead, we have approximately 2,055 sales pending, while last year at the end of August we only had 1,716 pending. Another positive sign – the inventory of available homes is down slightly to 21,362 by the end of August. The inventory is now at a 10 month level as opposed to last year’s 15 month supply. When we look at closings being up and inventory slightly lower, we can see the market coming into better balance than last year.
Your Advocate in the Greater Nashville Real Estate Market
We help our clients understand the ever changing real estate market with the goal in mind of making informed, forward thinking choices. Whether you’re ready to buy in the Greater Nashville area or you’re thinking of selling, The Linda Seaton Team is your real estate advocate! Give us a call to discuss your real estate needs or even easier – just drop us a note right here.