July home sales as hot as the temperature

From Nashville Business Journal

Folks, we’re at risk of running out of adjectives to describe Nashville’s robust housing market.

The latest batch of sales data reveals an 18 percent leap in closings, a 16 percent jump in sales pending and a 6 percent increase in median purchase price.

The results reinforce the fact that the region has ranked among the ten fastest-growing metro areas in each of the past three years. That surging population growth has made this the strongest seller’s market in recent memory.

The new numbers from the Greater Nashville Association of Realtors compare last month with the activity in July 2014 — which itself was a busy month at the time. The metrics were even better in July 2015:

• There were 3,832 closings in July 2015, or 574 more than July 2014.

• The average single-family home spent not even two months on the market.

• The median single-family sale price was $234,900 in July 2015, a $13,000 gain in just a year’s time.

• 435 condos sold, an increase of 83 units. The median sales price dipped, however, going from $170,000 to $161,500.


Source: Nashville Business Journal – http://www.bizjournals.com/nashville/blog/real-estate/2015/08/july-home-sales-as-hot-as-the-temperature.html?ana=e_du_pub&s=article_du&ed=2015-08-11&u=rTWD/o6mH4SKn7ss07YzQd/JaLn&t=1439386227