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Nashville Real Estate September Update

By
Real Estate Agent with Benchmark Realty LLc License# 00285925

Nashville MLS searchNashville Real Estate September 2014 - sales of Nashville homes increased 5% during the month of August compared to August of 2013 and sales of Nashville condos increased 3 percent during the same period. The median price of Nashville homes increased 12.8% during the last 12 months to $219,000. Nashville real estate is still showing strong demand so expect prices to continue to rise.

  • 2676 Nashville homes closing during the month of August 2014 compared to 2544 last August, an increase of 5.2 %
  • The median price of homes sold during the month was $219,000 compared to $194,000 last year, and increase of 12.8%
  • the average days on market for homes sold was 65 days
  • inventory levels of Nashville homes are consistent with last year at 10,106 compared to 10,156
  • 363 Nashville condos sold during the month compared to 351 the same month last year
  • the median price of condos sold was $169,000 compared to $167,834 last year
  • the inventory levels of Nashville condos have dropped significantly from 1215 available at this time last year to 1045 currently a reduction of 14%

Overall the Nashville real estate market is still very active with prices increasing and inventory levels remaining at a fairly low level with an absorption rate of Nashville homes at 4 months, and Nashville condos at less than 3 months. Nashville real estate remains in a sellers market. Search for Nashville real estate here

 

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For the most-up-to-date information on Nashville real estate values, then we urge you to contact us. We can assist you with all aspects of buying or selling real property in this and other neighborhoods in the Nashville Metro area. Also ask to be placed on an instant notification system when any new Nashville MLS listings come on the market or price reductions in Nashville real estate are posted. Benchmark realty can assist buyers in all forms of Nashville relocation needs including new construction houses, condos, townhouses, for sale by owner homes, residential lots, townhomes, lofts, and new homes in various subdivisions across the Nashville Metro region. If you are interested in foreclosure homes including pre-foreclosures, short sales, REO properties, bank owned properties and other types of foreclosure properties, then we can assist you. If you’re searching for Nashville foreclosures in Nashville or neighboring communities, then we invite you to view the listings in this or any of the Nashville popular subdivisions on our site. And if you’re searching for condos or townhomes for sale in the Nashville area, feel free to browse our updated listings of Nashville condos, townhouses, townhomes, lofts on our site. information on this page is based on information on real estate for sale in Nashville per the Nashville Multiple Listing Services, Inc. and is deemed reliable but, not guaranteed.

This post is the intellectual property of Larry Brewer of Benchmark realty and cannot be used without written consent [
   
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Comments (2)

Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Larry: Great market report. I see that you are still experiencing price increases over last years numbers, and this would not necessarily be due to reduced inventory. Buyer demand is certainly strong in Nashville. Thanks for the read.

Sep 10, 2014 12:35 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Larry Brewer 

Thank you for taking the time to share this market report.

It's most informative and a great resource for buyers and sellers alike!

I hope you have a great weekend.

Sep 11, 2014 09:37 AM