The current numbers regarding the Nashville real estate market were just released…. and drum roll please…… the Greater Nashville housing market had the STRONGEST 2nd quarter ever (at least on record)!
According to Greater Nashville Realtors® (which we are a member 🙂 ), in June alone, there were 3,887 homes sold. The second quarter had a total of 11,155 closings which is 2.8% higher than 2016’s second quarter that was at 10,851 homes.
The president of Greater Nashville Realtors® said, “The second quarter was our housing market’s strongest on record. The last time our market performed this well in the second quarter was 2006, with 11,046 closings. We’re a few units short of being ahead of midyear 2006, but with half a year left for sales, I suspect we’ll come close to the 2006 record of more than 40,000 annual closings.”
Overall, the June closings were only a .4% increase over last year due to lack of inventory. We still are seeing strong demand so it is a great time to sell. Similarly, the median residential home price has risen significantly. In June 2016, for a single-family home the median sales price was $260,148 and this year it is up to $293,753.
Pulled From Greater Nashville Realtors®
What do we think this means? Well, overall we think there is a HUGE imbalance of demand and inventory. thus leading to multiple offers and buyers not finding properties. So if you are thinking about selling – this is YOUR time… the market needs you and…
And we think it is important for all buyer’s out there to realize the importance of utilizing a professional to help you find a home and compete in this market. If you need us, we are just a phone call or click away. 615-310-8661 or lisa@nashvilleonthemarket.com.
xoxo,
Lisa Stigliano
Co-Owner of the Nashville on the Market Group/Local Real Estate Agent
P.S. If you ever just have questions about the Nashville Real Estate Market.. we would love to chat!
