Home sale data for May, as provided by the Greater Nashville Association of Realtors.
The pace of home sales in the Nashville area continued to slow last month, but the median price for a house set a new record.
The Greater Nashville Association of Realtors says the median price for a home in May was $209,900. That beats a record set last June.
Such prices are good news for folks like Sonua Bohannon. She’ll soon put her Lenox Village town home on the market, in hopes of finding a house closer to her job Downtown.
According to my agent and some of my friends who have recently sold, it’s really a seller’s market right now. So, I’m hopeful it will sell quickly.
But home sales in Nashville area have been slowing over the past few months. According to GNAR, 3,079 homes sold in May. That’s an increase of just .6 percent over last year.
In a press release, the real estate group calls the slowdown “welcome news,” saying the market couldn’t sustain the vast growth in home sales seen in 2012 and 2013.
The median price of condos in the Nashville area also rose in May, to $174,000. That’s $7,100 more than the same month last year and a $16,000 increase over April.
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