Area agents reported 2,186 home closings in the month of April, according to the Greater Nashville Association of Realtors, the strongest month since June 2010, when a buyer's tax credit expired.
Sales are up 25 percent from the 1,747 closings reported for April 2011.
Year-to-date closings are also up compared to 2011 with 7,041. That is a 24.5 percent increase compared to the 5,655 closings reported through April 2011.
“While some of the increase can be attributed to normal seasonal trends, the high number of closings is a clear indication that the real estate market in this region is showing significant improvement,” said GNAR President Kendra Cooke. “The continuation of historically low interest rates, increasing economic confidence and increasing rental rates are all factors having a positive impact on real estate sales.”
The median residential price for a single-family home during April was $165,120 and for a condominium it was $141,190. This compares with last year’s median residential and condominium prices of $159,070 and $148,000, respectively.
Sales were up across all sectors except for land and lots, the segment which had shown the greatest increase in recent months.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS