NASHVILLE, Tenn. (Jan. 7, 2021) – Final numbers for 2020 indicate there were 44,850 homes sold in the region, compared to the 42,356 closings in 2019, the total sales for 2020 were up 6 percent.
(information provided by Greater Nashville REALTORS Association)

Home sales hit 4,252 closings for December, according to data provided by Greater Nashville REALTORS®. This figure is up 22 percent from the 3,482 closings reported for the same period last year.

Fourth quarter closings were 12,310 for the Middle Tennessee area. That total is an 18 percent increase from the 10,456 closings during the fourth quarter of 2019.

“The figures we are sharing today remind us that even during our most challenging times, a home remains an important and essential part of everyone’s life,” said Brian Copeland, Greater Nashville Realtors president. “A thriving real estate market strengthens our local economy. We must continue to be sensitive to the impact of civil unrest, COVID -19, tornadoes and the Christmas Day explosion have made on our community. 2020 has proven that during times of uncertainty, home and family remain our most cherished safe haven. Regardless of the challenges that lie ahead, Realtors will continue to safeguard the foundation of our Greater Nashville community,”

A comparison of sales by category for December is:

 
2019
2020
CLOSINGS
3,482
4,252
Residential
2,880
3,445
Condominium
445
537
Multi-Family
22
22
Farms/Land/Lots
135
248

A comparison of sales by category for the fourth quarter is: 

 
2019
2020
CLOSINGS
10,456
12,310
Residential
8,702
10,041
Condominium
1,229
1,519
Multi-Family
72
75
Farms/Land/Lots
453
675

 A comparison of sales by category year-to-date is:  

 
2019
2020
CLOSINGS
42,356
44,850
Residential
35,305
37,170
Condominium
4,828
5,130
Multi-Family
297
257
Farms/Land/Lots
1,926
2,293

There were 2,622 sales pending at the end of December, compared with 2,114 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 $345,000 and for a condominium it was $245,000. This compares with last year’s median residential and condominium prices of $324,000 and $269,900, respectively.

Inventory at the end of December was 5,722 down from 9,365 in December 2019.

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

2019
2020
INVENTORY
9,365
5,722
Residential
6,612
3,543
Condominium
744
840
Multi-Family
40
58
Farms/Land/Lots
1,969
1,281

 

“Many people continue to choose the Greater Nashville area as their home. Our low cost and high quality of living will continue to be a huge selling point for our community. With inventory at historic lows, now is an excellent time for homeowners to explore their selling options with a Realtor,” Copeland added.

The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.