October Breaks Year-to-Date Records

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We are starting to see a trend for growing home sales in Nashville, as October was yet another great month for real estate. Home closings last month continued to break year-to-date records, and there is still another two full months to go.

There were 2,469 home closings reported in the month of October, according to figures given by the Greater Nashville Association of REALTORS®. This figure is up 6.79 percent from the 2,312 closings reported for October in 2012.

According to GNAR President Price Lechleiter, despite the unpredictable economy, real estate in the Greater Nashville area is beginning to recover to a more stable market. Lechleiter said, “Median prices are now in a range that makes the sale of a home more realistic for an increasing number of owners.” In October, the median home prices rose from $175,100 in 2012 to $200,000 this year.

With Nashville’s real estate returning to a more normal market, we are hopeful for many record-breaking numbers in the months ahead.

Click here to read GNAR’s full article to see all comparison record numbers for last month.