NASHVILLE, Tenn. (April 9, 2013) –
Finally, real estate has turned the corner and nearly every major market has seen an improvement nationwide. Sales are trending upward and due to a lack of inventory prices are rising as well. The Nashville, Franklin and Williamson county markets are no exception and along with Rutherford county and Murfreesboro, sales are picking up as the spring selling season approaches. In some areas there are multiple offers, which is an exciting change from the stagnation home sellers experienced in prior years.
There were 2,562 home closings reported for the month of March 2013, according to figures provided by the Greater Nashville Association of REALTORS®. This figure represents a 30.5 percent increase compared with 1,963 closings in March of 2012.
Numbers for the first quarter of 2013 were 5,980 closings, up 23 percent from the 4,855 closings during the first quarter of 2012.
“The number of closings for March is the highest it has been during the same month since March of 2007,” said GNAR President Price Lechleiter. “The housing market is very active. Seasonal trends and increased activity are combining to create more confidence that the housing market will continue to improve here in Greater Nashville. This region is very fortunate in that we are experiencing recovery, stabilization and strengthening of the market more quickly than many other markets. Pending sales for March are the highest they’ve been since January 2007, and the increase in the residential and condo median prices is a welcome sign.”
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