Nashville-area home sales hit mid-year on a continuing upswing.
The Greater Nashville Association of Realtors reported 2,453 home sales in June, a 20.8 percent increase against the same month last year. Year-to-date, sales are up 24.5 percent against 2011. With monthly, quarterly and yearly figures up more than 20 percent, GNAR President Kendra Cooke says the improving Nashville market is a "sustainable" pattern.
The median residential price for a single-family home during June was $182,000, and for a condominium it was $160,000. Both figures are up from last year's medians of $176,300 and $150,000, respectively.
Single-family was the prime mover in the market, with nearly all of the gain against June 2011 coming from that sector. With the relatively brisk sales, inventory for single-family homes is down to six months of supply.