Nashville Area Home Sales Continue Surge

Nashville-area home sales continued picking up in November, making five straight months of year-over-year gains. Closings surged nearly 20 percent.

In many ways, it’s become a sellers market, says realtor Richard Courtney. But it took a while to get here. Many homeowners had been holding on to hope that their property increased in value since they bought it five or 10 years ago. Courtney says now they’re being more realistic.

“A lot of this has to do with consumer acceptance that we are where we are. So pricing is more in line with where it should be than it was.”

The median paid for a single family home in Nashville is hovering around $168,000.

While the housing market isn’t rocketing back to pre-2007 levels, realtors say it may be more healthy. Courtney says lending standards remain at a high level, so homes sold are less likely to fall into foreclosure.