October looks like it was a reasonable month for home closings in Nashville TN. There were 447 homes that closed in October 2010. This doesn't include any condo sales. This is down from the 671 homes that closed in Nashville last year in October 2009. Condo sales for Nashville were 102 closings compared to 218 in October 2009.
Nashville Real Estate Statistics
The cheapest home that sold was listed for $9,900 and actually sold for $5,000 after just 27 days on the market. The home was sold as is and will likely be renovated and resold. The most expensive sold was $1,750,000. It was originally listed at $1,995,000 and sold after 182 days on the market.
The average price of a home sold in Nashville was $204,261 with an average days on the market of 90 days. In 2009 the average sales price was $203,953with only 81 days on the market. So, in this respect we see a slight increase in the sales price and a 9 extra days on the market. To all intents and purposes this would show a stable market for the average home in the Nashville real estate market.
There are other statistics that will show a slightly different picture, but these stats will include are the markets and communities that surround Nashville, such as Brentwood and Franklin. These will have a slight impact on the stats as really these are micro markets in the Nashville area. According to figures provided by GNAR there were 1,495 home closings in Nashville for of October 2010.
Home Sales Recovery?
Overall the real estate market in Nashville and the surrounding areas seems to showing signs of a slow recovery but still represents a great opportunity for qualified buyers to get a great deal on buying a new home. The rates are showing signs of creeping up a little, which apparently is the norm for this time of year, and this may spur people to pull the trigger and buy a home before the rates go too high.
List Your Home For Sale
If you are thinking of listing your Nashville home for sale in Nashville, be sure to contact us for a free home evaluation and market analysis. Our home marketing plan will show you how listings with The Ashton Real Estate Group of RE/MAX Elite can maximise your exposure to the real estate buyers in Nashville TN
Statistics Source: RealTracs The official multiple listing service for Middle Tennessee
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