While the housing market throughout Middle Tennessee staying hot is hardly a shocking headline at this point, the Nashville area as a whole posting the strongest second quarter on record is certainly considered newsworthy.
Anytime there is a record-setting stretch of home sales and closings, home buyers, home sellers, and industry professionals alike will of course all take notice. But what’s particularly significant about the second quarter is that it happens to fall right around the time when the housing market is traditionally at its busiest, so the numbers are even more eye-popping than you might expect.
According to new data from the Greater Nashville REALTORS®, 3887 homes were sold last month, bringing the finally tally of second-quarter closings to 11,155. But while that number has already been established as being the highest volume of second quarter closings on record, it’s also only a 2.8% increase from the second quarter closings in 2016, further demonstrating just how hot the Nashville area real estate market has been lately.
In total, 2017 has been a very busy year so far as year-to-date closings officially reached 19,493 at the end of June, which is up 5.6% compared to last year.
For added perspective, the second quarter of 2006 is the last time we’ve really seen the market this active, which was a stretch that saw 11,046 closings. Halfway through 2017, we’re still just a little short of the number of mid-year closings recorded back in 2006, but most analysts project Nashville should come close to reaching 40,000+ closings on the year.