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Nashville TN Real Estate Market Report

By
Real Estate Agent with Change Of Place Realty

Statistics show that the Nashville, Tennessee real estate market is still booming.  According to the Greater Nashville Association of Realtors' most recent market news release, sales numbers for January 2007 were the second-highest number of closings ever for the month of January.  That's right--only once in history have January real estate sales been higher than the January closings we had last month!

The GNAR provided the following comparison of sales by category for January:

 

Closings

Residential
Condominium
Multi-family
Farms/Land/Lots

January 2006
2,371

 

1,908
253
33
177

January 2007
2,289

 

1,779
287
40
183

The GNAR went on to note that there were 2,791 sales pending at the end of January 2007.  That's compared to 2,972 sales that were pending at the same time last year.

Pricing?  Still going up for residential sales, which is good news for sellers.  The median residential price during January was $172,900; last year that figure was $162,000. The average number of days on the market for a single-family residence was 72 days for the overall Nashville market.

Great news for Nashville home buyers and sellers!

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