Nashville TN Real Estate shows 16% improvement in July 2011 over July 2010!
The Tennessean recently reported that Single Family home sales showed "a long awaited glimmer of hope" because of the numbers seen in the July 2011 sales.
1692 homes in Middle Tennessee sold in July up from 1463 in July of 2010. That's a 16% increase and a continuation of good news that we've had the past few months.
Alice Walker, President of the Greater Nashville Association of Realtors was quoted as saying: "The July homes sales increase reflects what we've been saying during the past 6 months - the market is steadily recovering".This is certainly good news for those needing to sell their homes for whatever reason.
The Nashville TN Real Estate market did not suffer like many parts of the United States, but we didn't dodge any bullets. The Median sales prices are still down, just over 9% since the first quarter of 2008. Prices appear to be starting to stabilize.
There are less "deals" than last year when first time home buyers snatched up bargains and huge tax credit incentives at the same time. With the inventory down Buyers will meet less anxious Sellers.
The Nashville TN Real Estate sales should pick up this fall after this long hot summer. A good time to put your house on the market will be just after Labor Day. That gives you a few weeks to get it in tip top shape.