Home sales hit 4,027 closings for November 2021, according to data provided by Greater Nashville REALTORS®. This figure is up 9 percent from the 3,694 closings reported for the same period last year.
“We have a lot of pending homes in the Greater Nashville area,” said Brian Copeland, Greater Nashville Realtors president. “Many homes are seeing longer escrow periods due to seller occupancy needs. Many want their home under contract before finding their next home. Many of these homes went under contract over a month ago but were part of the inventory waiting to close. That’s really boosted these numbers.”
A comparison of sales by category for November:
Additionally, the data showed a total of 3,112 pending sales at the end of November 2021, compared to 3,119 pending sales at this time last year. The average number of days on the market for a single-family home was 29 days.
The median price for a residential single-family home was $425,000 and for a condominium, it was $298,050. This compares with last year’s median residential and condominium prices of $350,000 and $244,900 respectively.
Inventory at the end of November 2021 was 4,732 down from 6,200 in November 2020. What a dramatic change in just one year!
A comparison of current inventory by category for November:
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Figures are provided by Greater Nashville Realtors®. The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson.