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➺ Nashville Market Report: September Review

september-market-report

Fall seems to be everyone’s favorite time of year. Cozy bonfires, holiday parties, festive decorations, etc. Plenty of Nashvillians are celebrating the change of season in their new homes!

There were 3,474 home closings reported for the month of September, according to figures provided by the Greater Nashville Association of REALTORS®.

“The monthly, quarterly and year-to-date numbers are actually very similar, despite only two of the three showing an increase,” said GNAR President Denise Creswell. “Year-over-year sales for the month and the quarter are essentially flat, which is to be expected this time of year. Our region’s ability to remain stable given the inventory shortage is a strong indication of the healthy market we have.”

Stats at a glance:

· There were 3,577 sales pending at the end of September, compared with 3,244 pending sales at this time last year.

· The average number of days on the market for a single-family home was 50 days, compared with 56 days for September 2015.

· The median residential price for a single-family home during September was $256,900, and for a condominium, it was $188,495. This compares with last year’s median residential and condominium prices of $236,866 and $171,325, respectively.

· Inventory at the end of September was 11,886, down from 13,141 in September 2015.

Take the first steps and connect with us about starting your search. What better way to create some amazing memories this fall than in a new home?

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