Despite inclement weather and no incentive tax credits, the Greater Nashville area saw a 6.6 percent increase in homes sold in January 2011 compared with January 2010. Last month, 1,101 homes were sold; January 2010 saw 1,033 closings. The numbers represent a good start to the year and spark some much needed optimism in the local real estate market.
According to the Greater Nashville Association of Realtors (GNAR), median prices for single-family homes also showed an increase compared to January 2010. The median price of a single-family residence was $165,500 in January 2011 compared to $159,000 last January. Condominiums in Nashville saw a decrease in median price for January 2011 at $131,500. By comparison, the median price for a Nashville condo was $154,550 in January 2010.
To read the entire press release, click here. If you would like more information on opportunities in the Nashville real estate market, feel free to contact local Realtor, Jeff Fulmer at 615-545-8611 or jeff@jefffulmer.com
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