After two straight months of declining home sales in Nashville, the local real estate market finally saw a slight increase in September compared to this time last year.
Recently released numbers from the Greater Nashville Association of Realtors tallied 3,474 home closings last month, which is just under a 1% increase from September of last year.
As noted in previous reports, home sales in Nashville have been down over the last couple months, with August seeing a 0.8% decline, and July seeing a 3.3% decline.
Home sales weren’t the only housing statistic on the rise in September, as the median sales price was also up compared to last year. Also noted by the GNAR, the median sales price for a single-family house sold in the Nashville area was up from $236,866 in 2015 to $256,900 in September of this year. Condo prices also saw a nice jump, up from $171,325 to $188,495.
As for what to expect moving forward, there were still 3,577 sales pending at the close of the month in September, which is up by well over 300 sales compared to last year; and with some real estate pros predicting the hottest fall market in over 10 years, it looks like we could be in for a very active few months to close out 2016.
