Annual Home Sales Show Middle Tennessee Housing Market Remains Steady Going into New Year

Final numbers for 2021 indicate there were 47,172 homes sold in the region, compared to the 44,850 closings in 2020.

Home sales hit 4,305 closings for December, according to data provided by Greater Nashville REALTORS®. This figure is up 1 percent from the 4,252 closings reported for the same period last year.

Fourth-quarter closings were 12,379 for the Middle Tennessee area. That total is an 0.5 percent increase from the 12,310 closings during the fourth quarter of 2020.

“In spite of the ongoing inventory problem, Greater Nashville real estate sales remain resilient throughout 2021 and ended the year on a positive note,” said Steve Jolly, Greater Nashville Realtors president.

A comparison of sales by category for December is:

A comparison of sales by category for the fourth quarter is:

A comparison of sales by category year-to-date is:

There were 2,392 sales pending at the end of December, compared with 2,622 pending sales at this time last year. The average number of days on the market for a single-family home was 30 days.

The median price for a residential single-family home was $437,362 and for a condominium, it was $298,918. This compares with last year’s median residential and condominium prices of $345,000 and $245,000, respectively.

Inventory at the end of December was 3,624 down from 5,722 in December 2020.

The current inventory of properties by category, compared to last year, is:

“2022 likely brings a new challenge in addition to a lack of inventory: Rising interest rates,” Jolly added. “It’s never been more important to work with a Realtor to help you navigate the obstacles in this tough real estate market.”

For more information about Greater Nashville market data or to schedule an interview, please contact Mitch Turner at 615-254-7516.

About Greater Nashville REALTORS®
One of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.

The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.

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