In line with recent trends, home sales across Tennessee ticked up 1.9 percent (7,603 closings to 7,745) in August 2017; the median price continued rising steadily, 9.8 percent ($198,000 to $217,500); and available homes kept falling, -24.3 percent (28,635 to 21,292) over August 2016, according to data compiled by Tennessee Realtors.
Condo sales took a slightly different tack, falling -10.4 percent (791 closings to 709), even as the median condo price gained +11.4 percent ($166,000 to $185,000), and inventory fell almost one-third, -32% (2,213 to 1,511) over August 2016.
The tables below summarize the August 2017 results in sales, price and inventory:
|
|
Aug. 2016
|
Aug. 2017
|
Change
|
|
SALES
|
8,394
|
8,454
|
+.7%
|
|
Residential
|
7,603
|
7,745
|
+1.9%
|
|
Condominium
|
791
|
709
|
-10.4%
|
|
|
Aug. 2016
|
Aug. 2017
|
Change
|
|
MEDIAN PRICE
|
-
|
-
|
-
|
|
Residential
|
$198,000
|
$217,500
|
+9.8%
|
|
Condominium
|
$166,000
|
$185,000
|
+11.4%
|
|
|
Aug. 2016
|
Aug. 2017
|
Change
|
|
INVENTORY
|
30,295
|
22,768
|
-25%
|
|
Residential
|
28,079
|
21,247
|
-24.3%
|
|
Condominium
|
2,216
|
1,521
|
-31.4%
|