Nashville Home Pricing Update

    We’re well into autumn, and moving into winter as temperatures drop in Nashville. One temperature that hasn’t dropped is in the housing market, where prices are high and homes in the local market are hot, hot, hot!

    Which makes this the perfect time to showcase home pricing in the market from October, and how it’s evolved over the past two years.

    Home Pricing

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    For October of 2014, home pricing statistics are as follows:

    • For residences, there were 355 closing with a medium average price of $408,000.
    • There were 32 condo closings, averaging at $219,956, and 35 land closings, averaging at $165,000.

    The median sales price for a single-family home was $408,000 in October of 2014, an increase of 7.4% over October 2013, and a 10.6% increase over 2012.

    Let’s compare that to October 2013, when there were 367 residential closings, averaging at $380,000, 25 condos closing with an average of $189,549, and 33 land closings averaging at $186,000.

    The number of single-family residential closings decreased by 3.2% in October 2014 compared to October 2013. There was a 7.9% increase over October 2012. Condo closings in October 2014 were up 28% over October 2013, with median price up 16%.

    In October of 2012, there were 329 residential closings at an average of $369,000, 39 condos ($198,500), and 30 land (162,500).

    Overall, prices continue to rise in the Williamson County market, with homes, condos, and land consistently selling well in October!

    (With the recent spotlight on Franklin in the New York Times, we’re not surprised the area continues to be in high demand.)

    For more detail, visit http://www.wcartn.org

    If you’re interested in buying or selling a home in the Nashville area, we’d love to help! Give us a call, or drop us a line, today.

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