by TJ AndersonOutside of Nashville real estate (and sometimes the Preds), the ladies in my life (both two- and four-legged) take up a healthy share of my focus and attention. The little one, in
Nashville June 2012 Home Sales
**Reprinted from GNAR website
GREATER NASHVILLE HOME SALES INCREASE AT MID-YEAR
NASHVILLE, Tenn (July 3, 2012) - There were 2,453 homes sold in the month of June, according to figures provided by the Greater Nashville Association of REALTORS®. That figure is up 20.8 percent compared to the 2,031 closings reported for June 2011.
Second quarter numbers are up, with 7,139 closings reported, a 24.7 percent increase from the 5,723 clsoings reported through the second quarter of 2011. Year-to-date closings from teh Greater Nashville area are up 24.5 percent with 11,994 compared to the 9.631 clsoings reported through mid-year 2011.
"Home sales news in Greater Nashville is strong evidence that 'all real estate is local," said GNAR President Kendra Cooke. "While recent national reports may not have been encouraging, home sales activity here remains very brisk. And, that activity is proving to be sustainable, as the June, second-quarter and year-to-date figures are all up more than 20 percent compared to the same periods last year. With median prices up and more than 2,500 sales pending, it is clear that the market in this region is improving and growing."
The current home sales data was provided on the same day as the first Regional Housing Summit held at GNAR with area housing professionals and non-profit organizations providing insights and dialogue on how local resources can help those in this region explore the possiblity of owning a home. Cooke noted that current and future homebuyers can learn more about the process of purchasing a home by attending the Mayor's Home Ownership Fair sponsored by Nashville Mayor Karl Dean, set for Sunday, July 15 from 1-5 p.m. at Bridgestone Arena.
A comparison of sales by category for June is:
June 2011 June 2012
CLOSINGS 2,031 2,453
Residential 1,708 2,066
Condominium 225 282
Multi-Family 13 12
Farms/Lands/Lots 85 93
A comparison of sales by category for the second quarter is:
2nd Quarter 2011 2nd Quarter 2012
CLOSINGS 5,723 7,139
Residential 4,725 5,955
Condominium 637 815
Multi-Family 53 60
Farms/Lands/Lots 308 309
A comparison of year-to-date sales by category for mid-year is:
Y-T-D 2011 Y-T-D 2012
CLOSINGS 9,631 11,994
Residential 8,008 9,914
Condominium 1,034 1,299
Multi-Family 102 136
Farms/Lands/Lots 487 645
The median residential price for a single-family home during June was $182,000, and for a condominium it was $160,000. Last year’s median residential and condominium prices for June were $176,300 and $150,000, respectively.
There were 2,585 sales pending at the end of June, compared with 2,130 pending sales at this time last year. The average number of days on the market for a single-family home was 84 days.
Inventory at the end of June was 19,136, down from 22,043 in June 2011. The current inventory of properties by category, compared to last year, is:
June 2011 June 2012
INVENTORY 22,043 19,136
Residential 13,988 11,812
Condominium 2,015 1,583
Multi-Family 342 293
Farms/Land/Lots 5,698 5,448
“Inventory is continuing to decrease, which is the case in all categories this month,” added Cooke. "There is now less than an eight-month supply currently available in Greater Nashville and less than a six-month supply for single-family residential. Homes that are truly market-ready are moving, well, but buyers are not interested in those proeprties that have not been properly prepared both inside and outside and priced properly"
The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.
TJ Anderson is a Nashville Realtor with Benchmark Realty who's helped countless clients both buy a home and sell a home in Nashville, Tennessee. He blogs about Nashville regularly, from Nashville-area....
Latest Blog Posts
by TJ AndersonThere are a lot of different reasons why the Nashville real estate market has boomed over the last handful of years. We’ve seen massive cultural growth here in Nashville, from
by TJ AndersonI’m getting ready to catch some Nashville fireworks tonight with the family, but getting in a few hours of searching Nashville home listings today, too. On Independence Day, if I
by TJ AndersonFrom the no-surprise department: “Home buyers get more bang for their buck in Nashville's suburbs,” The Tennessean shared late last week.True of most cities; definitely true of