nashville home sales for march were up 30.5% compared to closings in march 2012. there were 2,562 home closings reported for march 2013. number of closings for the first quarter of 2013 were also up 23% from first quarter 2012.
the number of closings for march was the highest it has been since spring of 2007. pending sales for march (2,727) are also the highest since january 2007 which is a good indicator of how april and may are shaping up. median prices for both residential homes & condos are both up.
inventory continues to be a hurdle as we move into spring. the market is becoming very competitive. price lechleiter, president of the greater nashville association of realtors says “good properties, properly prepared and priced, are moving very quickly. the market is very competitive. buyers are always resistant to consider available homes that are in bad repair or priced incorrectly.”