2013 Year-End Home Sales Exceed 30,000
Last year was an overall great year for home sales in the Nashville region. In the month of December alone, there were 2,441 home closings. According to figures given by the Greater Nashville Association of REALTORS®, home sales were up a 13.7 percent increase from the 2,147 closings reported for the same month in 2012. GNAR President Hagan Stone stated, “December home sales were up more than 13 percent over December 2012, our region’s best December since 2006.”
Nashville’s year-end home sales exceeded 30,000, which was the first time this has happened since 2007. According to the figures from the Greater Nashville Association of REALTORS®, 30,917 homes were sold in the area, which was up 18.5 percent from the 26,097 home closings in 2012. In the Greater Nashville area, fourth quarter closings were 7,197. That figure was up 8 percent from the 6,657 closings during the fourth quarter in 2012.
73 days was the average length of time that a single-family home stayed on the market before selling. During the month of December, the average residential price of a single-family home was $198, 838, which compares to the price of $187,900 during last year’s sales.
Stone said, “For the first time since 2007, closings for the year exceeded 30,000 units. This tops pre-recession numbers and sets up a great beginning for 2014.” Stone believes the numbers are very encouraging to Realtors in the Nashville region. Nashville is seeing stable trends and has a positive outlook for the future.
To read more about December and 2013 home sales, click here to read the full GNAR article.