The Nashville region experienced the strongest year-over-year gain in January home sales since the recession.
The Nashville area’s inventory of single-family homes at the end of January was 8,036 versus 8,534 a year earlier, according to GNAR. Sales pending at the end of last month were up 11 percent versus the end of January 2014..
Although median prices have remained stable month-over-month, they’re up significantly year-over-year. For single-family homes, January’s median price of $215,000 was up 10 percent from that month in 2014. For condos, the $172,250 median price was up 4.4 percent from January 2014.
In Williamson County, there were 274 home closings in January, up 9.1 percent from January 2014. “The only real concern at present is the need for additional inventory,” said Chip Kerr, president of the Williamson County Association of Realtors.
Last month, the median price for a single-family home in Williamson was $411,332, while the median price for a condo was $297,000.