The following is the summary letter for the May Sales Report from the Nashville Association of Realtors. Number of sales and prices are down as they also were in the May Report for Williamson County. About the only bright spot was condo prices have remained relatively stable in Williamson and Davidson. If you would like me to e-mail the actual report, just let me know and I'll send that out.
GREATER NASHVILLE HOME SALES CONTINUE RECENT TRENDS; PENDING SALES REACH 2,000
There were 1,783 home closings reported for the month of May, representing a 28.9 percent decrease from the 2,508 closings reported for May of 2008. Year-to-date closings are 7,149, down 31.2 percent from the 10,406 closings reported for the same period last year.
The median price in May was $169,900 for a single-family home and $156,250 for a condominium. That compares with last year's median residential and condominium prices of $189,975 and $159,000 respectively. There were 2,000 closings pending at the end of May and the average number of days on the market for a single-family home was 92.
Inventory at the end of May was 24,598, down from the 25,096 properties on the market in May of 2008.
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