Market Area Sales Davidson County
January Home Sales Lay Strong Foundation
NASHVILLE, Tenn. (Feb. 7, 2019) – There were 2,274 home closings reported for the month of January, according to figures provided by Greater Nashville REALTORS®. This figure is down 1 percent from the 2,298 closings reported for the same period last year.
“January home sales were down slightly from this time last year,” said Greater Nashville REALTORS® President Andrew Terrell. “The government shutdown impacted closings in January to some degree, but overall, 2019 is off to a great start.
A comparison of sales by category for Jan. is:
| 2018 | 2019 | |
|---|---|---|
| Closings | 2,298 | 2,274 |
| Residential | 1,877 | 1,888 |
| Condominium | 251 | 247 |
| Multi-Family | 13 | 18 |
| Farms / Land / Lots | 157 | 121 |
There were 2,853 sales pending at the end of January, compared to 2,951 pending sales at this time last year. The average number of days on the market for a single-family home was 40 days.
The median price for a residential single-family home was $293,650, and for a condominium, it was $200,100. This compares with last year’s median residential and condominium prices of $281,500 and $210,098 respectively.
Inventory at the end of January was 11,150, up from 8,332 in January 2018.
The current inventory of properties by category, compared to last year, is:
| 2017 | 2018 | |
|---|---|---|
| Inventory | 8,332 | 11,150 |
| Residential | 5,565 | 7,799 |
| Condominium | 549 | 981 |
| Multi-Family | 60 | 118 |
| Farms / Land / Lots | 2,158 | 2,252 |
“Housing Inventory continues to show a steady and consistent gain which is critical to a strong and healthy market. Median home prices show a fairly consistent gain for residential single-family homes. The average home spent a little extra time on the market in January. Overall this past month’s home sales and our strong local economy build the foundation for a great year,” added Terrell.
About Us: Greater Nashville REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.
The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.
Click for December 2018 Davidson County Market Area Sales Information