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Nashville Home Sales Dip In November

a67487efbbee266b4ed1fc19efe0cebcThe Greater Nashville Association of Realtors announced today that there were 2,397 home closings reported in November, down 3.1 percent from the same period a year ago. It’s the first month-over-month decrease in the Nashville area since April 2014. (Sales in October were basically flat, up 0.5 percent compared to 2014.)

That said, Nashville has now officially sold more homes this year than in all of 2014, with 33,679 closings reported through November, compared to the 33,269 closings in 2014. Year to date, home sales are up 6.9 percent compared to a year ago.

“With the season of the year and the tight inventory levels, the small decline in sales isn’t a surprise. In fact, in active markets such as ours, this leveling out is inevitable and healthy,” Cindy Stanton, president of the Greater Nashville Association of Realtors, said in a news release. “Home prices continue to experience incremental gains and pending sales remain strong, both of which are positive indicators for the sustained strength of our market.”

And while the overall volume of closings took a dip in November, sales prices did not. The median price for a single family home sold in November was $231,925, up from $215,000. The median price for a condo sold last month was $178,002, up from $165,256.

Read more about Nashville’s November housing numbers at the Nashville Business Journal.

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