December 13, 2007

Nashville Home Sales Decline, Prices Bounce Back

Home sales in Nashville continued to decline compared to last year, but median home prices bounced back in November after falling in October.
Total home closings fell 21 percent in November to 2,260 from 2,867 last year. Year-to-date closings are down 13 percent, according to numbers released Monday by the Greater Nashville Association of Realtors.
The median price of a single family home in November was up 3 percent to $179,900 from $174,900 last year. The median price of a condominium was up 4 percent to $167,035 from $159,900.
The current inventory of homes has also grown since last year, up to 22,301 from 17,175 last year. (Nashville Business Journal- December 2008)

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