Home Sales Remain Strong in New Year

NASHVILLE, Tenn. (Feb. 8, 2021) – According to Greater Nashville Realtors, home sales closed out at 2,745 closings reported for the month of January. This figure is up 4 percent from the 2,632 closings reported for the same period last year.

“January’s numbers show the power of the Greater Nashville market. Many of these homes went under contract during the holiday season which is stereotyped as a subprime time to sell. As Realtors continue to remind their sellers, there’s rarely a bad time to list a home in this marketplace,” said Brian Copeland, Greater Nashville Realtors president.

A comparison of sales by category for January is:

Pending sales for the month of January held strong at 3,609, compared to 3,117 pending sales at this time last year. The average number of days on the market for a single-family home was 26 days.

The median price for a residential single-family home was $344,920, and for a condominium it was $247,750. This compares with last year’s median residential and condominium prices of $305,950 and $239,000 respectively.

Inventory at the end of January was 5,381, down from 9,410 in January 2020.

The current inventory of properties by category, compared to last year, is:

“The current inventory shortage continues to create pent up demand for buyers. Many homes are selling in multiple offers. As more and more buyers enter this competitive market, it’s imperative that a buyer has a professional Realtor navigating these exciting yet challenging waters,” added Copeland.

Source, visit greaternashvillerealtors.org.