Stats released by GNAR for June show homes sale are up in Nashville

Posted by Gary Ashton RE/MAX Advantage on Friday, July 16th, 2010 at 11:40am.

There were 2,416 homes sold in the month of June, according to figures provided by the Greater Nashville Association of REALTORS®. This is a figure that is up 15.5 percent compared to the results for sales in June 2009 of 2,09.

The 2nd quarter numbers are also up showing an invrease of just under 25% which equates to 6,831 closings compared to the precious period last year which had 5,478 closings.

The actual closings from January 2010 to the end of June 2010 in the Greater Nashville area show an increase of 19.3 percent with equals 11,023 as compared to 9,240 closings for the same period last year.

“The current home sales data for Greater Nashville and Middle Tennessee show encouraging signs for our market,” said GNAR* President Lucy Smith. “For the ninth consecutive month we have seen an increase in home sales and every county saw home sales growth through mid-year. More good news is that Congress passed an extension of the Homebuyer Tax Credit closing deadline. This legislation gives many Middle Tennesseans an additional 90 days to complete their transactions. Originally, buyers under contract by April 30 needed to close by June 30 to qualify, but now have until Sept. 30 to close on their transactions. And, as interest rates remain remarkably low, now is a great time to explore the possibility of homeownership.”

Future homebuyers can learn more about the ins and outs of the actual home buyer and selling process by attending the Mayor’s Home Ownership Fair sponsored by Nashville Mayor Karl Dean on Sunday, July 25 from 1-5 p.m. at Bridgestone Arena.

A comparison of closings by category for June 2010 is shown below:

	June 2009	JUNE 2010
CLOSINGS	2,091	2,416
Residential	1,770	1,980
Condominium	234	354
Multi-Family	21	19
Farms/Land/Lots	66	63

A comparison of closings by category for the second quarter of 2010 is shown below:

	2nd Quarter 2009	2nd Quarter 2010
CLOSINGS	5,478	6,831
Residential	4,601	5,732
Condominium	642	824
Multi-Family	49	58
Farms/Land/Lots	186	217

A comparison of closings by category for mid-year is shown below:

	Y-T-D 2009	Y-T-D 2010
CLOSINGS	9,240	11,023
Residential	7,750	9,194
Condominium	1,088	1,336
Multi-Family	97	109
Farms/Land/Lots	305	384

The median residential price for a single-family home during June was $181,312. For condos and town homes it was $145,000. 2009 median residential was $177,700 and condominium $152,870