Region’s housing market on pace for record year in sales

There were 3,544 closings reported for the month of September, according to figures provided by Greater Nashville REALTORS. This represents an increase of 2.0 percent over the 3,474 closings reported for September 2016.

Third quarter numbers experienced a 3.5 percent increase from 2016 with 11,299 closings reported, compared to last year.

That total of year-to-date closings for the Greater Nashville area is up 4.8 percent at 30,792 from the 29,372 closings reported through the third quarter of 2016.

“For a month where home sales begin to slow, this past September turned out to be remarkable for our region. Middle Tennessee achieved the best performing month of September that we have on record,” said Greater Nashville REALTORS President, Scott Troxel. “Yes, overall home sales are slowing down, as is typical for this time of year. But, the September success sends a strong message about the importance and attractiveness of homeownership.”

The median residential price for a single-family home during September was $280,000 and for a condominium, it was $223,450. This compares with last year’s median residential and condominium prices of $256,900 and $188,495, respectively.

“Sales are up incrementally for both the quarter and year-to-date compared to last year, keeping us on track to the best housing market we’ve ever had,” said Troxel.