According to the numbers published by the Greater Nashville Association of Realtors®, the local housing market has seen a 25 percent increase in home sales since this time last year. Compared to recent years, 2012 has been a very strong year as home sales have increased every month.
The total number of closings for the greater Nashville area through September 2012 is 19,440, which is a significant improvement when compared to the 15,531 closings that occurred through the third quarter in 2011.
What makes these numbers particularly encouraging is that the increase in sales is accompanied by a decrease in inventory and an increase in sale price. In September of 2011 sellers had their homes on the market for an average of 94 days. Fast-forward to September of 2012 and homeowners now spend an average of 82 days on the market. And there is less competition among sellers as inventory has shrunk from 20,718 to 17,897 during the same time period.
Homeowners are beginning to see the value of their properties rise again. The average price for a single-family residence has climbed from $163,000 to $175,000 over the last year. Condominium owners have also seen an increase in property values, going from an average price of $144,900 to the current $153,900.
Author:Dorothy Lee Phone: 615-973-6363 Dated: January 3rd 2013 Views: 663 About Dorothy: Dorothy Lee’s 18+ years extensive knowledge and experience in Real Estate provides her a unique v...
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At Exit Realty of the South, we are committed to providing you with up-to-date information, comprehensive resources and the highest possible level of customer service in order to meet or exceed your real estate goals and objectives. Guided by honesty and integrity as a professional standard throughout the company, we are devoted to your total satisfaction as the benchmark of our success. The recipe for our success is an extensive support team that is second-to-none and passionate real estate professionals who invest numerous hours of continuing education to remain on top of their field.
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Part of the job of a REALTOR® is keeping up with what is happeni
"Dorothy was personable, professional, and wonderful to work with. She had great ideas on how to sell my home. Dorothy used her many years of experience to help me set my price, negotiate counter offers and close the deal. She actually had two offers within 4 days of it being on the market a and ultimately had my house sold and closed within 25 days. "