According to GNAR (the Greater Nashville Association of Realtors) there were 2,064 home closings in Greater Nashville during August, down just 9.2 percent from the 2,273 closings in August of 2008. Year-to-date closings are 13,518, down 23.8 percent from the 17,758 closings through August of last year.
The median price for a single-family home was $160,000 and for a condominium in Nashville it was $147,900. The median prices were $177,500 and $162,500 for single-family homes and condominiums respectively during August of last year. Short sales and foreclosures have had a negative effect on prices in the last 12 months.
Inventory is down overall, and down specifically for single-family homes and condominiums. Multi-family properties and farms, land and lots are both up from past levels.
For the whole press release, please click here.
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