While I’m passionate about selling and showing houses across all price points, it’s been great to see that luxury home sales are back up as the real estate market gets back to its feet.
All signs point to grander homes making a comeback. See recent articles from The Wall Street Journal reporting that the rise in home resales indicates a stronger market and that an upturn in home building is giving a boost to luxury home builders. From San Francisco to New York City, the trend endures. The New York Times ponders the surge in super-priced real estate (think a $90 million apartment), saying that buyers are more likely to shell out big bucks on houses that double as works of art, thanks to their architectural or historic significance.
Here in Nashville, the “luxury home” starts at about $400,000 and applies to anything that price or higher. And our home sales are experiencing an uptick, too. In July Nashville area home sales increased by 27.4 percent, meaning that 2,574 homes were sold. And the price of the average home sold is up to $181,250, compared to $179,900 a year ago.
Greater Nashville Association of Realtors President Kendra Cooke reports that, "The July homes sales increase reflects the sustained strengthening being experienced in Greater Nashville market this year. The Greater Nashville region is fortunate to be experiencing continued improvement in home sales. The more diverse and stable employment environment here, compared with other parts of the country, is making a major difference in the regional economic recovery overall, and is certainly helping in home sales."
I, for one, am so happy to see home sales in Music City looking so sweet again.
by TJ AndersonI’m intensely excited about our new Inglewood hom
"T.J. is a top notch sales and service professional. I have bought homes in multiple states and dealt with a dozen real-tors and T.J. is the best of the bunch. I need three things from my real-tor: local knowledge, responsiveness, and honesty. T.J. is off the chart in all three areas. I follow his real-estate blog and regularly bounce market questions off of him. T.J. responded quickly and professionally to each and every question my wife and I sent his way. Ultimately T.J. talked my wife and I out of a not so good deal and advised us to wait a while before purchasing a second home (due to our situation not the market). I would not hesitate to recommend T.J. to anyone interested in Nashville real-estate. Form a first time home buyer to someone just new to the area you can't go wrong with this guy!"