Nashville Home Sales Show Dramatic Increase From This Time Last Year

Friday, May 7, 2021

Data for the month of April showed 4,119 home closings, according to figures provided by Greater Nashville Realtors. This figure indicates a 43 percent increase from the 2,887 closings reported for the same period last year.  
 
“As a national city in the spotlight, Nashville’s real estate has had story after story reported about how low our inventory is,” said Greater Nashville Realtors President Brian Copeland.  “What is not being told as freely is that there are homes to be bought here at a realistic and reachable price. Buyers simply can’t wait on the sidelines to decide as they may have been able to do a decade prior.” 
 
 A comparison of sales by category for April is:
 
Year 2020 2021
CLOSINGS 2,887 4,119
Residential 2,480 3,233
Condominium    286    570
Multi-Family        9      32
Farm/Land/Lots    112    284

There were 3,837 sales pending at the end of April, compared to 3,050 pending sales at this time last year. The average number of days on the market for a single-family home was 26 days. 
 
The median price for a residential single-family home was $385,000 and for a condominium it was $264,525. This compares with last year’s median residential and condominium prices of $330,000 and $228,500 respectively.
 
Inventory at the end of April was 4,534, down from 9,976 in April 2020.
 
The current inventory of properties by category, compared to last year, is:
 
Year 2020 2021
INVENTORY 9,976 4,534
Residential 7,074 2,742
Condominium    885    654
Multi-Family      54      63
Farm/Land/Lots 1,963 1,075
 
"While inventory is tight, prices will only get more aggressive in the coming months. Some may use the cliché, real estate bubble, but all indicators show a market correction that has been delayed for years. Nashville's economy matched with strong corporate relocation gives us a formula for continued market momentum," added Mr. Copeland.
 
The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.
 
 
 
 



Chattanooga's Million Dollar Homes

Robert Backer: May 2021 Housing Market Statistics

Planning Commission Goes With Airbnb-er Despite Heavy Opposition


Chattanooga's Million Dollar homes, reflected in recent transactions, include: 8008 Mountain Laurel Trail 5 bedrooms, 6 baths, 5,201 square feet, on 1.28 acre lot. The sale was to Todd ... (click for more)

As the weather warms and COVID restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. You might think I’m starting to sound like a broken record, ... (click for more)

Michael R. Smith stood alone in a room crowded with opponents of his plans for a short term vacation rental on Crestwood Trail on Lake Chickamauga. Planning Commission Chairman Ethan Collier ... (click for more)



Real Estate

Chattanooga's Million Dollar Homes

Chattanooga's Million Dollar homes, reflected in recent transactions, include: 8008 Mountain Laurel Trail 5 bedrooms, 6 baths, 5,201 square feet, on 1.28 acre lot. The sale was to Todd Mcdonald, Christina Mcdonald from Ronnie Marsh $1,025,000 8801 Sycamore Lane 3 bedrooms, 5 baths, 3,733 square feet, on 6.34 acre lot. The sale was to Randall B Hebert from Adventist ... (click for more)

Robert Backer: May 2021 Housing Market Statistics

As the weather warms and COVID restrictions ease across much of the country, the U.S. housing market shows little sign of cooling. You might think I’m starting to sound like a broken record, but robust buyer demand, fueled by low mortgage rates, continues to outpace supply, which remains near historic lows. Nationwide, inventory remains much lower than it was at this time last year, ... (click for more)

Breaking News

Health Department No Longer Making Appointments For COVID-19 Vaccine; Gives Guidance For Lost Vaccination Record Cards And Upcoming Vaccination Schedule

The Hamilton County Health Department is no longer making appointments for the COVID-19 vaccine. Individuals may drive up to the Tennessee Riverpark vaccination site during operating hours to receive their first or second dose of the vaccine. “We want to make this process as easy as possible so that we can eliminate barriers to getting vaccinated,” says Health Department Administrator ... (click for more)

Collegedale Police Save Overdose Victim

Collegedale police responded to the Integra Hills apartment complex on Thursday after receiving reports of an unconscious person. When they arrived at the residence, the officers discovered that the victim had overdosed on opiates. She wasn’t breathing and no pulse could be found. The officers immediately began CPR and administered NARCAN to the victim. Collegedale officers ... (click for more)

Opinion

Earl Freudenberg: My Dad Was The Definition Of What A Father Should Be

Charles Freudenberg was the definition of a dad. “What you saw was what he was.” Tthat’s the way I would best describe my father. Charles Freudenberg never tried to impress anyone. He always wore a white shirt, tie and hi top spit shined boots to work. When not working you’d usually see Dad in blue jeans with a white sweat shirt and hi top boots. Dad very rarely purchased new ... (click for more)

Roy Exum: The Saturday Funnies

Mississippi’s Lee Sanderlin finished dead-last in his fantasy football pool with his buddies and, per the rules, had to spent 24 straight hours inside a neighborhood Waffle House to discipline his mind for the 2021 season. However, there was a proviso – for every waffle that Lee ate an hour would be deducted from the 24-hours at the restaurant. He ate two waffles when he got ... (click for more)