Nashville June Home Sales Show It’s Time to Sell

June-CMA Fest Crowd

According to stats from the Greater Nashville Association of REALTORS Nashville saw 3,804 homes sold in June.  This is up 14.4 percent compared to June of 2014 with 3,324 closings.   Nashville home sales were the strongest for June since 2005.

Comparison of sales for June is:

 June 2014
 June 2015
Total Closings  3,324  3804
Residential  2753  3177
Condominium  360  425
Multi-Family  23  23
Farm/Land/Lots  188  179

Numbers are up for the second quarter overall as well.  There were 10,302 closings reported and a 12.3 percent increase from the 9,170 closings reported through the second quarter of 2014.  With 17,206 closings compared to 15,335 closings reported through midyear 2014, year to date closings for Greater Nashville are up 12.2 percent.

Comparison of sales for the second quarter:

 June 2014
 June 2015
Total Closings  9,170  10,302
Residential  7,541  8,524
Condominium  1,011  1,165
Multi-Family  70  66
Farm/Land/Lots  548  547

“The news is good for Middle Tennessee home sales with both second-quarter and year-to-date numbers all up compared to last year,” said GNAR President Cindy Stanton. “Every county in our reporting area showed an increase in residential sales, and more than half experienced the same in the condominium market, as well.

“It has been a decade since our area has experienced as strong a month of June as we did this year. The continued growth with jobs, the economy and consumer confidence indicate we can expect this trend to remain.”

For a single-family home in June the median price was $240,000 and for a condominium it was and for a condo it was $172,500.  Last year’s median residential & condominium prices for June were approximately $222,000 and $171,250 for comparison.

At the end of June there were 3,853 sales pending compared with 3,313 pending sales at the same time last year.  The average number of days on the market for a single-family home was 57 days.

Inventory at the end of June was 13,823, down from 16,167 in June 2014.
The current inventory of properties for June 2014 & 2015 is:

 June 2014
 June 2015
Inventory  16,157  13,823
Residential  10,553  9,179
Condominium  1,204  972
Multi-Family 161  126
Farm/Land/Lots  4,239  3,546

The need for inventory only keeps increasing.  The market is booking the timing for selling your home has never been better!  I’m experienced at selling home and as a native, very knowledgable about Nashville. If you want to sell at a prime time, I can help you get the most value out of your property.  Call me at 615-500-2748 or email bt@liveinnashville.com