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November 9, 2010 / nashvilleonthemove

Nashville Real Estate: October Home Sales

During the month of October, 1,495 homes sold, which is a 30.3 percent decrease compared to last years closings at 2,145. Year-to-date closings are at 17,433, which is a 1 percent decrease over the 17,598 closings reported through October 2009.

Median prices for homes and condominiums showed an increase again this month. The median price of a single-family residence was $173,525 and for a condominium it was $152,950. In October of 2009 a single family dwelling was $160,000 and for a condominium it was $144,000.

Without the tax credit from earlier this year, home sales continue to show a decrease compared to the same time last year. However, purchasing a home in Greater Nashville remains a good choice as interest rates are exceptionally favorable, the amount of inventory provides great choices.

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