Best January On Record for Middle Tennessee Housing Market

There were 2,411 home closings reported for the month of January, according to figures provided by Greater Nashville REALTORS®. This figure is up 11.2 percent from the 2,167 closings reported for the same period last year.
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There were 2,755 sales pending at the end of the month, compared with 2,212 pending sales at this time last year. The average number of days on the market for a single-family home was 57 days.

The median residential price for a single-family home during January was $261,500 and for a condominium it was $184,350. This compares with last year’s median residential and condominium prices of $242,668 and $179,900, respectively.

Inventory at the end of January was 10,025, compared with 11,352 in January 2016. The current inventory of properties by category, compared to last year, is: