Nashville Home Sales Up 18% This February

According to GNAR there were 1,784 home closings reported for the month of February

 

This represents an increase of nearly 18 percent from the 1,515 closings reported in February 2012. Year-to-date closings through February are 3,418, an 18.2 percent increase from the 2,892 closings reported through February 2012.

 

“The home sales data for February indicates another increase in both home purchases and pending sales compared to last year,” said GNAR President Price Lechleiter. “And this month also marks the highest amount of closings in February since 2008.   This is the eighteenth consecutive month of increased year-over-year closings.

 

“The housing market recovery in this region is proving to be sustainable, particularly in light of the seasonal increases in home sales activity anticipated in the coming months. The current trends are certainly positive, but long-term planning is needed to keep our city and region vibrant and attractive in the future. With that in mind, GNAR is fully engaged in the NashvilleNext initiative and commends those who are leading that process.”

 

A comparison of sales by category for February is:

 

February 2012 February 2013      
CLOSINGS  1,515 1,784
Residential 1,251 1,481
Condominium 128 180
Multi-Family 22 24
Farms/Lands/Lots 114 99

 

There were 2,269 sales pending at the end of the month, compared with 1,832 pending sales at this time last year. The average number of days on the market for a single-family home was 84 days.

 

The median residential price for a single-family home during February was $175,000, and for a condominium it was $138,473. This compares with median residential and condominium prices of $159,900 and $145,000, respectively at this time last year.

 

Inventory at the end of February was 15,651 down from 18,271 in February 2012. The current inventory of properties by category, compared to last year, is:

 

 

February 2012 February 2013     
INVENTORY      18,271 15,651
Residential 11,258 9,491
Condominium 1,559 1,223
Multi-Family 301 213
Farms/Land/Lots 5,153 4,724

 

“According to the National Association of Realtors, pending home sales were up over last year in every region of the country, including the South.  In the Greater Nashville area, there were more than 2,000 pending sales last month. Pending sales have not been above 2,000 since February 2008, so this is welcome news,” added Lechleiter.  “Inventory is consistently lower than what it was in recent years. With positive sales trends and low inventory, it is likely that more people will consider putting their homes on the market soon. It is important for sellers to understand that buyers are expecting homes to be market ready and priced correctly in order to seriously consider a purchase.”

 

The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners.  REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of Realtors and subscribe to its strict code of ethics.

 

To access full home sales information, including historical data, click here.

Today’s Nashville Home Listings

See all City of Nashville real estate for sale..
(all data current as of 10/21/2014)

  1. 4 beds, 2 full baths
    Home size: 1,714 sq ft
    Lot size: 15,246 sqft
    Listed with Parks
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  2. 2 beds, 2 full baths
    Home size: 1,092 sq ft
    Listed with The Wilson Group
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  3. 3 beds, 1 full bath
    Home size: 1,135 sq ft
    Lot size: 7,840 sqft
    Listed with Hodges and Fooshee Realty Inc.
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  4. 4 beds, 2 full, 2 part baths
    Home size: 3,235 sq ft
    Lot size: 15,681 sqft
    Listed with RE/MAX Elite
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  5. 3 beds, 2 full baths
    Home size: 1,411 sq ft
    Lot size: 29,185 sqft
    Listed with Hodges and Fooshee Realty Inc.
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  6. 3 beds, 1 full, 1 part baths
    Home size: 1,530 sq ft
    Lot size: 39,639 sqft
    Listed with Reliant Realty
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  7. 5 beds, 3 full, 1 part baths
    Home size: 4,303 sq ft
    Lot size: 2.25 ac
    Listed with Worth Properties LLC
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  8. 2 beds, 1 full bath
    Home size: 992 sq ft
    Lot size: 1.75 ac
    Listed with REALHome Services and Solutions, Inc.
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  9. 3 beds, 2 full baths
    Home size: 1,850 sq ft
    Lot size: 13,939 sqft
    Listed with RE/MAX Choice Properties
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  10. 3 beds, 1 full bath
    Home size: 1,353 sq ft
    Lot size: 6,098 sqft
    Listed with Benchmark Realty, LLC
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  11. 5 beds, 3 full baths
    Home size: 2,436 sq ft
    Lot size: 25,264 sqft
    Listed with Keller Williams Realty
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  12. 2 beds, 2 full, 1 part baths
    Home size: 1,216 sq ft
    Listed with Benchmark Realty, LLC
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  13. 3 beds, 2 full, 1 part baths
    Home size: 1,869 sq ft
    Lot size: 4,075 sqft
    Listed with Benchmark Realty, LLC
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  14. 4 beds, 3 full, 1 part baths
    Home size: 2,712 sq ft
    Lot size: 6,098 sqft
    Listed with Benchmark Realty, LLC
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  15. 0 beds, 1 full bath
    Home size: 422 sq ft
    Listed with Village Real Estate Services
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  16. 0 beds, 1 full bath
    Home size: 422 sq ft
    Listed with Village Real Estate Services
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  17. 0 beds, 1 full bath
    Home size: 422 sq ft
    Listed with Village Real Estate Services
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  18. 0 beds, 1 full bath
    Home size: 422 sq ft
    Listed with Village Real Estate Services
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  19. 3 beds, 2 full, 1 part baths
    Home size: 1,606 sq ft
    Listed with Benchmark Realty, LLC
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Listing information deemed reliable but not guaranteed. Read full disclaimer.

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