Nashville TN Real Estate finally Starts to Stabilize
The Nashville TN Real Estate market saw more than 2,000 properties close for the second month in a row. For 3 months in a row, there were over 2,000 sales pending. As the number of closings continued to decrease from 2008 sales, there were actually 2,214 closings, down just 11% from the 2,488 closings in July of 2008.
The median price of a single-family home decreased 5% from 2008. The median price was $171,100 verses $179,995 in 2009. The median price for a condo it was $142,146, down 13% from $162,900.
Inventory was down slightly from last year with 24,592 properties available in July of 2009, compared with 25,023 in July of 2008. With closing continuing to be down, having less homes on the market allows those that are trying to sell to have less competition.
Connie Harvey is a full time Realtor with Prudential Woodmont Realty Group. She assists Sellers and Buyers with their Real Estate needs in Franklin TN, Nashville TN and Brentwood TN. She can be reached at 615-661-7800 x 1300 or via email at HarveyC@realtracs.com
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Connie Harveyis a local agent with Pilkerton Realtors, serving home buyers and sellers in Nashville, TN, Brentwood TN, and Franklin TN. Let her help you realize your Real Estate goals. She can be reached at 615-371-2474.
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Connie - shout it from the rooftops! This is great news to hear Nashville TN is stabilizing! What a great report!
Wonderful news..........I am seeing an increase in buyers, properties selling that have been on the market for a while. It's very encouraging to see positive things going on.
Have a great day!
Ann
Pamela - Yes, I know that it's not over yet but I'm starting to feel like we're getting close.
Ann - I can't help but believe that a lot of this has to do with the Tax Credit for first time homebuyers.
Connie, I just wrote a blog a couple days ago about this as well. Nice to see it picking up!
:.)
Vanessa
Connie Isn't it nice to be able to report improvement - it will also be good for the public and the country Karen
Vanessa - We can't talk about it enough! It's great news.
Karen - Yes, talking about happy things is a nice change! I do believe that the stimulus for first time homebuyers is starting to make a difference.