April Home Sales Up 25 Percent
May 9, 2012
Nashville Business Journal
Nashville-area homes sales increased by 25 percent in April compared to one year ago, the Greater Nashville Association of Realtors announced today.
According to GNAR, 2,186 homes were sold in the Nashville area in April, up from 1,747 one year ago.
So far this year, home sales are up 24.5 percent over last year.
"Total sales are the best we’ve seen since June 2010, which was the initial deadline for the first time buyer tax credit," said GNAR President Kendra Cooke. "While some of the increase can be attributed to normal seasonal trends, the high number of closings is a clear indication that the real estate market in this region is showing significant improvement."
In April, homes sold for an average of $165,120, up from $159,070 a year ago. Condos sold for an average of $141,190 down from $148,000 a year ago.
There were 2,436 sales pending at the end of the month, up from 1,909 a year ago. Homes sold in April had been on the market for an average of 88 days.
Inventory at the end of April stood at 19,622 homes, lots and condo units, down from 22,297 a year ago.