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Kenneth Bargers, REALTOR® | Pilkerton Realtors

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Understanding the Market | Greater Nashville

Home Sales Soar as Spring Turns to Summer
Greater Nashville REALTORS®; Press Release | June 7, 2019

NASHVILLE, Tenn. (June 7, 2019) – There were 4,172 home closings reported for the month of May according to figures provided by Greater Nashville REALTORS®. This figure is up 10 percent from the 3,767 closings reported for the same period last year. 

“The Greater Nashville housing market has hit an all-time high with record breaking sales,” said Andrew Terrell, Greater Nashville REALTORS® president. “With over 4,100 closings, the market has surpassed the highest month on record, which was in June 2018.”

There were 3,940 sales pending at the end of May, compared to 3,575 pending sales at this time last year. The average number of days on the market for a single-family home was 32 days.

The median price for a residential single-family home was $318,000 and for a condominium it was $232,000. This compares with last year’s median residential and condominium prices of $299,900 and $226,000 respectively.

Inventory at the end of May was 11,576, up from 10,912 in May 2018.

“Every day, more and more people are moving to Nashville, and with this comes increased sales, increased inventory and rising home sale prices. It is critical that consumers have a competitive edge in our market, and the best way to achieve a competitive edge is to use a Realtor. Realtors are not just agents; they are professional members of the National Association of Realtors and subscribe to a strict code of ethics which protects consumers,” added Terrell.

June marks National Homeownership Month, which recognizes the value of homeownership to individuals, families, communities and the nation’s economy. Realtors are on a mission to protect homeownership rights for all consumers, That’s Who We “R,” Realtors.

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.

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Home Sales Reach Record-Breaking High for April

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Understanding the Market | National Overview

A Surprise Tops the List of Great Markets for Buyers
realtor.com | June 5, 2019

The top housing market for home buyers in the country is … drum roll … Albany, N.Y., according to a newly released realtor.com® study.

The combination of low sales price growth and more homes for sale is making Albany a hot choice for home buyers, according to the study. The median list price was about $295,000 in April—about 5% below the national median of $310,000.

“It’s a very middle-class, homey city,” Anthony Gucciardo, a local broker with Gucciardo Real Estate, told realtor.com®. “We have a lot of state government and colleges, so there [are] employment opportunities.”

Following Albany, rounding out the 10 top nationwide buyers markets—those most favorable to home shoppers, according to realtor.com®—are: Chicago; San Antonio, Texas; Jacksonville, Fla.; Riverside, Calif.; Los Angeles; Providence, R.I.; Dallas; Nashville, Tenn.; and Tampa, Fla.

In these markets, price growth has slowed, averaging a modest 1.4% year over year compared to 8.4% the prior year. Also, buyers are getting more choices: For Sale signs in these markets are growing, averaging 14.6% year over year. Nationally, inventories have risen only 4%, for comparison.

“These 10 housing markets are already more buyer-friendly when looking at the availability of homes for sale in different markets,” says Danielle Hale, realtor.com®’s chief economist. “As inventory continues to grow in these markets, buyers will see more options, and should ultimately gain more bargaining power.”

Source:   “The Top Real Estate Market for Home Buyers Is What?” realtor.com(R) (June 4, 2019); REALTOR® Mag News 060519

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