Heres the Nashville Real Estate Market Report for October 2012

Steve Jolly, Real Estate Broker and Owner of FastRealEstateMarketing.com, shared the latest news on the state of the Nashville Real Estate Market. Nashville Real Estate Sales 10/2012

Real Estate Sales continue their positive trend in Nashville, Steve Jolly stated, For the month of October 2012 sales are up 33% over the same month last year. Nashville has a 26% increase over last year for the first ten months of 2012. Total Closings are ahead of the total for 2011 and we still have two months to go. Pending sales are also above 2011 levels with 625 more homes pending than October of 2011.

3000 2500 Homes Sold 2000 1500 1000

2011 vs 2012 Nashville Real Estate Closings

Jan

Feb 1515 1134

Mar 1963 1673

Apr 2186 1747

May 2500 1945

Jun 2453 2031

Jul 2574 2021

Aug 2606 2047

Sep 2226 1832

Oct 2312 1728

Nov 1592

Dec 1773

2012 Closings 1377 2011 Closings 1101

October 2012 - Nashville Real Estate Inventory Inventory continues to fall in the Nashville Real Estate Market, Jolly continued, Nashville has the lowest inventory of homes for sale in more than six years. Low inventory is good news for the market and what we expected to see for a recovery. We currently have less than 8 months of total inventory and less than 6 months of inventory of single family homes for sale. The inventory is expected for go below 17,000 in December. The average Days on Market for October 2012 is 83 days.

2011 vs 2012 Nashville Real Estate Inventory

24000 Homes in Inventoryl 22000 20000 18000 16000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2012 Inventory 17949 18271 18984 19622 19503 19136 18868 18223 17897 17217 2011 Inventory 20347 20997 21647 22297 22514 22043 21993 21362 20718 20165 19292 17216

October 2012 - Nashville Real Estate Price Sales Prices are ahead of 2011, and have been slightly positive all year, Steve Jolly said. We have only seen significant differences in the last two months. October 2012s median price is $175,100 which is 7.5% higher than the median sales price for the same month last year of $162,000. The median condo price in Nashville for October 2012 was $157,900 versus $139,515 for the same month in 2011.

2011 vs 2012 Nashville Real Estate Median Price

$185,000 $180,000 $175,000 $170,000 $165,000 $160,000 $155,000 $150,000

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2012 Avg Price $157,500 $159,900 $168,500 $165,120 $179,000 $182,000 $181,250 $175,000 $175,000 $175,100 2011 Avg Price $165,500 $169,900 $165,000 $159,070 $165,900 $176,300 $179,900 $171,900 $163,000 162,000 $167,500 $168,500

November through February is typically considered the slow period of real estate sales in Nashville. Many people may have been waiting for election season to end to make their decision. This may be a good time to put your home on the market while the inventory is still low. Holiday season buyers are typically serious about purchasing a home. The best advice for current Nashville home sellers: Make sure your home is ready to sell and it is priced properly. The data was provided by the Greater Nashville Association of Realtors, Middle Tennessees largest trade association for Real Estate Professionals. For More graphs, data and more information on the Nashville Real Estate Market, Click Here to visit NashvilleRealEstateNow.com.