Area home sales continue decline, down 28% from April last year
Nashville Business Journal, Friday, May 9, 2008
Home sales continued to tumble in April compared to last year, dropping 28 percent in Middle Tennessee.
New sales figures from the Greater Nashville Association of Realtors show 2,135 homes sold in April compared to 2,989 the year before.
GNAR president Mandy Wachtler says home sales declines have been consistent with previous months.
"That means the Greater Nashville market is performing with some consistency even in these times of change," she says.
Home sales are running at the same level as sales in 2001.
The median price for single family homes rose 1 percent to $180,000 from $177,900. The median price for condos dropped one percent to $162,000 from $163,900.
The number of homes on the market is 2,103 more than last April. The number of condos on the market is 361 more than last April.
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