NASHVILLE, Tenn. (July 7, 2021) – There were 4,649 home closings reported for the month of June, according to figures provided by Greater Nashville REALTORS®. This figure indicates a 11 percent increase from the 4,191 closings reported for the same period last year.

“For the first time since March, we saw weekly inventory levels above the average during June,” said Brian Copeland, Greater Nashville REALTORS® president. “While inventory remains low, Realtors are working harder than ever to bring quality homes to the market.”

Data for the second quarter of 2021 showed 12,831 closings, up 24 percent from the 10,345 closings during the second quarter of 2020.

A comparison of sales by category for June is:

2020
2021
CLOSINGS
4,191
4,649
Residential
3,478
3,746
Condominium
479
631
Multi-Family
25
25
Farms/Land/Lots
209
247
A comparison of sales by category for the second quarter are:
 2020
 2021
 CLOSINGS
10,345
 12,831
 Residential
 8,717
 10,193
 Condominum
 1,090
 1,787
 Multi-Family
 50
 89
 Farms/Land/Lots
 488
 762
2021 midyear report:
 YTD 2020
 YTD 2021
 CLOSINGS
 19,121
 22,169
 Residential
 16,021
 17,689
Condominum
 2,060
 3,007
 Multi-Family
 115
 161
 Farms/Land/Lots
 925
 1,312
There were 3,608 sales pending at the end of June, compared to 4,648 pending sales at this time last year. The average number of days on the market for a single-family home was 27 days.
“It will be interesting to see what July’s numbers say with pendings down,” Copeland added. “Many homes are closing faster than they were this time in 2020 due to the market’s pace and factors caused by COVID-19. I will not be surprised if our July closures exceed July 2020.”

The median price for a residential single-family home was $415,000 and for a condominium, it was $292,570. This compares with last year’s median residential and condominium prices of $331,448 and $243,990 respectively.

Inventory at the end of June was 4,615 down from 9,682 in June 2020.

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

2020
2021
INVENTORY
9,682
4,615
Residential
6,825
2,831
Condominium
1,001
546
Multi-Family
49
76
Farms/Land/Lots
1,807
1,162

 

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

By Published On: July 16th, 2021

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