Nashville Real Estate Sales Increase 28 Percent
Nashville Real Estate Sales Increase 28 Percent in August - With 2,047
Nashville real estate closings for the month compared to 1594 closings in August 2010, a 28.4 percent increase. The median residential price for a single-family home during August was $171,900, and for a condominium it was $152,000. This compares with last year’s median residential and condominium prices of $174,500 and $141,890.
The inventory of Nashville real estate at the end of August was 21,362, down 13 percent from 24,119 in August 2010. Average days on market for Nashville real estate was 90 days.
- 2047 Nashville homes sold during August of 2011 compared to 1594 in August of 2010
- the average price of Nashville homes sold was $171,900
- average days on market was 90 days
- Nashville real estate inventory fell 13 percent from 24,119 to 21,262
Nashville real estate sales have been showing signs of improvement for many months now, and even though buyers are still able to get a fantastic deal, the inventory is being picked over on a daily basis. The absorption rate for Nashville real estate has fallen from 15 months last August to 10 months in August 2011.