“It’s Not All Bad”
February Homes Sales: Continue to tease us…but we’ll take all the positive news we can get. According to GNAR (Greater Nashville Association of Realtors) we had the 5th consecutive month of increase in home sales in February! Here are the details…..
There were 1,308 home closings in Greater Nashville during February, representing a 3.2 percent increase from the 1,267 closings reported during February of 2009. The number of pending sales also continues to rise with 1,614 sales pending at the end of this February compared to 1,452 in February of last year.
The median residential price in February was $159,900 for a single-family home and $149,950 for a condominium. That compares with median prices of $160,000 for residential and $151,120 for condominiums in February of last year.
Inventory is up to 23,159 compared with 23,122 in February of 2009.
The extension and expansion of the Homebuyer Tax Credit is helping to move inventory. Don’t forget that this program expires at the end of April. That means you need to have a binding contract to purchase by this time. You’ll have until July 1, 2010 to close. If you need more details just give me a call or send me an email. I have a handy fact sheet.
Happy Spring!
