Summer Selling Season Kicks Off With A Bang!

    Summer is in full swing, and the real estate market is as brilliant as the sunshine filling our days. William Carlos Williams once said, “In summer, the song sings itself,” and 2015 in Nashville is a song full of home buying and selling. 

    As reported by GNAR, the Greater Nashville Association of REALTORS®, there were 3,558 closings reported for the month of May. This is an increase of 15.6%, up from May 2014 when 3,079 closings were reported.

    “This is the first time since June of 2007 that we have exceeded 3,500 units sold in one month. The steady increase in home sales is the sign of a vibrant market,” GNAR President Cindy Stanton noted, while adding that it’s been since 2007 since Middle Tennessee has seen sells this strong.

     

         Per GNAR: A comparison of sales by category for May is: 

     

    May 2014

    May 2015 

    CLOSINGS

    3,079

    3,558

     Residential

     2,544

     2,953 

     Condominium

     347

     411 

     Multi-Family

     21

     19 

     Farm/Land/Lots

     167 

     175 

     

    Also reported by GNAR, the average number of days a single-family home is on the market was 61 days with 3,730 sales pending at the end of the month, compared to 2014’s total of 3,108.

    May reported a median average of $235,000 for a single-family home, while during the Summer of 2014, the median residential single-family home was $209,900.

    Inventory continues to be in demand, as there are more buyers seeking homes than homes on the market. Nashville and its surrounding counties continue to grow, and it’s no wonder with the strength of the local economy and the attraction of global, national, and regional brands to the area.

    If you are looking to buy or sell a home in Middle Tennessee, we’re here to help! Give us call at 615-550-5655 or drop us a line today!

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