Greater Nashville Association of Realtors and the January 2010 Home Sales
Home Sales in the greater Nashville area for the month of January: They’re up! They’re up!
From the Greater Nashville Association of Realtors: “There were 1,033 home closings in Greater Nashville during January, representing a 6 percent increase from the 974 closings reported during January of 2009. Condominium sales were up considerably.
The median residential price in January was $159,000 for a single-family home and $154,550 for a condominium. That compares with median prices of $165,000 for both condominiums and residential in January of last year. There were 1,295 sales pending at the end of January, compared with 1,282 at the end of January 2009.
Inventory is down to 22,233, compared with 22,509 in January of 2009.”
Okay, folks, make sure you noticed that while the home sales for the greater Nashville area are up during the month of January 2010, the MEDIAN PRICES were actually down.
That says a lot about our current market.
Personally, I have been seeing a lot more showings on my listings and have buyers ringing my phone off the hook. Getting these transactions closed, however, has been a stickier situation. Banks are being notoriously difficult in the approval process, often waiting until the 11th hour to require further paperwork. This has been setting the closings back, causing frustrations and fear for everyone as to whether or not the transactions will actually happen.
Let’s all be realistic: climbing our way out of this housing market mess is definitely going to be a slow and difficult climb with many bumps along the way.
If you are interested in selling or finding a home in Green Hills, Downtown, 12th South, or Oak Hill area of Nashville, or would like to look at other real estate for sale in the Middle Tennessee area, please search the MLS HERE. Please note: You will have to register with my site to be able to search the MLS. I will contact you initially and all requests thereafter for privacy will be respected.
Looking to move? Wanting to Invest? Need help as a First Time Buyer? Please feel free to call me, Emily Lowe (yes, I’m a Realtor, with The Lipman Group Sotheby’s International Realty) at 615.509.1753