Tennessee Home Sales Dip 7% In January

Friday, February 15, 2019

During January 2019, there were 4,460 single-family home sales in Tennessee, down seven percent from 4,799 a year earlier; while the median home price was $227,700, up eight percent from $209,500; and the inventory of available homes slipped 10 percent, from 20,619 to 18,565, according to data compiled by Tennessee Realtors.

 

Condominium sales in January 2019 ticked up from a year earlier, up 15 percent from 173 to 199, while the median condo price rose 2.8 percent ($145,000 to $149,000), and condo inventory fell 21.4 percent (851 to 669).

 

 “January’s numbers reflect recent trendlines in Tennessee as the market remains filled both with challenges and with opportunities,” said Kathy Tucker of Chattanooga, 2019 president of Tennessee Realtors.

“Inventory has remained tight in many parts of the state as prices have continued to rise. It’s wise for Tennesseans to keep these factors in mind as they embark on the process of buying or selling a home.”

 

The tables below summarize Tennessee’s January 2019 housing data:

 

CLOSINGS

Jan 2018

Jan 2019

Change

Single-Family

4,799

4,460

-7%

Condo

173

199

+15%

 

MEDIAN PRICE

Jan 2018

Jan 2019

Change

Single-Family

$209,500

$227,700

+8%

Condo

$145,000

$149,000

+2.8%

 

 

 

 

 

INVENTORY

Jan 2018

Jan 2019

Change

Single-Family

20,619

18,565

-10%

Condo

851

669

-21.4%

 


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