Home sales in Nashville drop

Friday, August 10, 2007 at 2:44am

The Greater Nashville Association of Realtors said Thursday there were 3,349 home closings reported for the month of July. This represents a 15.7 percent decrease from the 3,976 closings reported for the same period last year.

Year-to-date closings for the Greater Nashville area are 21,419. That is a decrease of 8.9 percent from the 23,522 closings reported through July 2006. However, the Realtor’s group said the Greater Nashville real estate market continues to experience the third-best year on record.

“The market in Greater Nashville is still active and in balance. As a matter of fact, the market has actually become more normal, rather than remaining as hot as it was in the past few years. And, there are some new conditions and factors such as the increased number of homes available,” said GNAR President Richard Courtney. “The changing market makes the price and condition of the home when it goes onto the market even more important.

There were 3,112 sales pending at the end of July, compared with 3,698 pending sales at this time last year. The average number of days on the market for a single-family home was 65 days.

The median residential price for a single-family home during July was $189,900, and for a condominium was $154,000. This compares with last year’s median residential and condominium prices of $180,300 and $139,800, respectively.

Inventory at the end of July was 21,861, up from 16,170 in July 2006.

“The inventory of available homes and properties is consistently more than 20,000 for the Greater Nashville market now,” Courtney said. “While that is higher than it has been in recent years, it is important to remember that it represents just a little more than a six-month supply, based on the current number of closings."

Filed under: City Business
By: Dean_DECEPTION on 12/31/69 at 6:00

And if Karl Dean got elected Mayor and raised the PROPERTY TAX again, he would destroy the real estate market in Nashville.After Dean advocated for a PROPERTY TAX INCREASE as Metro Law Director, with 77% of the Voters against a PROPERTY TAX INCREASE, how in the World did Dean get twenty thousand FOOLS to vote for him for Mayor?How in the World does Dean CON all those FOOLS into putting his signs in their yards?

By: EstebanInez on 12/31/69 at 6:00

Hey, dope... have you not noticed that this is a national trend. Geez, people like you are so focused on your own navels that you don't even know what's happening in front of you. "Oh, me! Oh, my! My property taxes went up $100 this year. That's three times I can't take my obese wife to Cracker Barrel. Oh wait, I got a 2% pay raise this year! Oh, whew, I thought I'd have to give up some of my "luxuries"."

By: Dean_DECEPTION on 12/31/69 at 6:00

If U own property N Nashville, U have had UR property tax raised, dummie? I guess U don't own anything, dummie37205?As David Briley sez, "KARL LOSES!" So I guess we will be safe from PROPERTY-TAX-KRAZY-KARL DEAN!

By: Dean_DECEPTION on 12/31/69 at 6:00

Este,Sorry U R 1 of 20k FOOLS who voted for TAX-CRAZY-Dean! but that is UR problem, dummie.

By: 37205Democrat on 12/31/69 at 6:00

I have a feeling D_D has had his property taxes raised.

By: Dean_DECEPTION on 12/31/69 at 6:00


By: idgaf on 12/31/69 at 6:00

So whats the alternative Choo-Choo Clement?

By: 37205Democrat on 12/31/69 at 6:00

D_D. Yes I own property and have had tax increases over the last 20 years. No, I'm not happy about it but realize it is a fact of life and that we have to pay for the things we use. I also know that compared to many comparible areas around the US, Davidson County's tax rate is fairly low.I've been searching and find no evidence anywhere that Mr. Dean will raise taxes other than his finding about last year's referendum - that was based on him doing his job as an attorney. I'd like for you to please post the facts behind your accusations.And calm down a little.