Nashville Tennessee Real Estate Statistics

December 2007 Figures

According to figures just released by the Greater Nashville Association of Realtors® there were 2,109 home closings recorded for the month of December 2007. This in real terms shows a reduction of 32 percent from the 3,109 closings recorded for December 2006.

The number of fourth-quarter closings for 2007 for the Greater Nashville area was 6,856. This figure is actually a reduction  of 26% compared to the 9,307 closings recorded for the fourth quarter in 2006.

The total number of closings for 2007 in the Greater Nashville area was 34,221. This is down 14.5 percent when compared to the 40,056 closings recorded in 2006. 

"Ending the year as the fourth-best year on record is very encouraging considering the state of real estate in other parts of the country," said Mandy Wachtler, 2008 President of the Greater Nashville Association of Realtors. "While our numbers are down compared to most recent years, it would be nearly impossible to keep up with that pace. We set a record for the number of homes sold for six consecutive years. The market was bound to normalize at some point, and it did last year."

"We are hopeful that 2008 will start strong and continue on a steady pace throughout the year," Wachtler added. "There seems to be considerable optimism among real estate professionals throughout the Greater Nashville area as the number of showings begins to increase."

December Sales Comparison :

4th Sales Comparison:

Year-To Date Sales Comparison:

Pending Sales

Pending sales have seen a significant reduction. There were 1,771 sales pending at the end of December 2007, compared with 2,474 sales that were pending in December 2006.

 Median Sales Prices

The median residential sales price during December 2007 was $187,900 . The sales figure for a condominium was $169,750. This compares with median residential and condominium prices in December 2006 of $184,562 and $173,840 respectively. The average number of days on the market for a single-family residence was 76 days.

Real Estate Inventory

Inventory at the end of December was 20,673. That compares with an inventory of 15,815 at the end of December 2006. Current inventory of properties by category, compared to the same time last year, is:

Source: Greater Nashville Association of Realtors GNAR.com

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