Nashville Real Estate Market Report 2007
Nashville real estate closings for 2007 in the Greater Nashville area was 34,221, down 14.5 percent compared to the 40,056 closings reported for the same period as last year, which was a record year for home sales in the region, According to the Greater Nashville association of realtors.
Nashville real estate inventory increased to 20673 from 15,815 the previous year, giving buyers plenty of choices.Average prices of single family homes increased 2 percent from $184,562 to $187,900. The average number of days on market increased from 65 at the end 2006 to 76 in 2007.
What does all of this information mean to buyers and sellers of Nashville real estate?
- Inventory levels are still higher than 2006, but they have been declining since April of 2007.
- Prices are stable, buyers and sellers both should expect fair pricing to continue.
- Sellers need to insure that their property is in good condition, and priced competitively.
- Exceptional properties are still the first to sell, so buyers need to be prepared to make quick decisions, and reasonable offers.
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Open House Sunday 1-4 Fieldstone Farms condo
Location: Fieldstone Farms
Nashville real estate – Nashville Homes
Nashville real estate and the surrounding communites As always, you can call me to set up a showing for any real estate that may interest you. To visit my specialized webpages, just click on any of the links provided.
9175 carothers pkwy
Franklin tn 37067
615-778-1818 office
or 615-512-7853 mobile
or visit my website at www.nashvillerealestatelink.com.
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