Home Sales Steady in Middle Tennessee Through Third Quarter

NASHVILLE, Tenn. (Oct. 6, 2016) – There were 3,474 home closings reported for the month of September, according to figures provided by the Greater Nashville Association of REALTORS®. That number is up 0.8 percent from the 3,444 closings reported for the same period last year.

“The monthly, quarterly and year-to-date numbers are actually very similar, despite only two of the three showing an increase,” said GNAR President Denise Creswell. “Year-over-year sales for the month and the quarter are essentially flat, which is to be expected this time of year. Our region’s ability to remain stable given the inventory shortage is a strong indication of the healthy market we have.”

“Through the third quarter each county in our reporting area has experienced an increase in median sales price. Eight of the nine counties increased in sales, also,” said Creswell. “Pending sales are solid going into the last quarter of the season indicating we should finish the year well. It’s apparent investing in homeownership is still a priority for the residents of Middle Tennessee.”

“Despite a small decline in sales, buyers and sellers remain in the marketplace,” said Creswell. “Sellers should remember they are responsible for putting the best property on the market, even in light of fewer homes for sale. They can’t take for granted that a potential buyer will act on any property simply to make a purchase, despite the property’s condition.

“For buyers, Realtors can’t stress enough how important it is to be pre-approved and ready to act. That has been true all year, and as inventory conditions tighten this fall, it’s critical. Those properties that are well-maintained and property marketed and priced will enter and exit the market rapidly.”


Year Over Year Market Inventory

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Kevin Martelli

Kevin Martelli is a licensed and insured real estate agent serving the Nashville, Tennessee area. Kevin is a proud member of Greater Nashville Realtors. He is a Realtor and an Affiliate Broker at Pareto Realty, LLC.