Middle Tennessee Home Sales Maintain Upward Trajectory

Image courtesy National Association of Realtors

Home sales in Middle Tennessee have cooled off from the last few months, but closings are still up nearly 24 percent from this time last year. The real estate market is maintaining year-over-year growth.

September also marks the end of the third quarter. This time last year, more than 15,000 homes had been sold. The Greater Nashville Association of Realtors says the year-to-date figure for 2012 is more than 19,000.

Home prices are stable from last month, remaining at $175,000. And the median price of a single-family home is up $12,000 from last year. Condo prices are picking up too, increasing nearly $10,000 over September of 2011.

The National Association of Realtors is expecting 8-10 percent growth this year, so Nashville is ahead of the curve in that way. Local real estate officials call the trend lines “very encouraging.”