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Nashville Real Estate - Market Update March 2016

Nashville Real Estate - March 2016 The median residential price for a single-family home during February increased 14% to $235,000 compared to February of 2015, and for Nashville condos, the median price increased 8% to $174,380 compared to the same month last year. There were 2,293 home closings reported for the month of February, according to data provided by the Greater Nashville Association of REALTORS®. This represents an increase of 9.7 percent from the 2,091 closings reported in February 2015. Year-to-date closings through February 2016 are 4,460, a 9.7 percent increase from the 4,067 closings reported through February 2015.

Nashville Home Sales for February 2016

There were 2,735 sales pending at the end of the month, compared with 2,458 pending sales at this time last year. The average number of days on the market for a single-family home was 65 days. Inventory at the end of February was 11,677, down from 12,445 in February 2015. The current inventory of properties by category, compared to last year, is: Nashville Real Estate Inventory

As you can see, the inventory of homes, condos, and land are all down compared to the same period last year, and the number of sales have been up almost 10% so far this year. The most likely result will be a continuation of price escalation. If you would like to sell your Nashville home or condo, let me know, I can get top dollar for your existing home, and negotiate a great deal for you next one. Search for Nashville homes for sale here

Published Friday, March 18, 2016 8:05 AM by larry Brewer

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