There were 1,592 home closings reported for the month of November, according to figures provided by the Greater Nashville Association of REALTORS®. This figure is up 20 percent from the 1,326 closings reported for the same period last year.
Year-to-date closings through November are 18,851, almost a 1 percent increase from 2010 when 18,750 closings were reported through November.
“Home sales trends in November include a double-digit increase the number of closings and stable or increasing prices for both single-family homes and condominiums. These signs are welcome as we near the end of the year and begin to look towards 2012,” said GNAR President Alice Walker. “Based on current data, Greater Nashville is on track to have more than 20,000 closings this year, which is a very important benchmark under current market conditions.”
“As we get further away from the impact of the first-time homebuyer tax credit, comparisons become more realistic. What we’ve seen the second half of this year, including an actual increase in closings year-to-date, should be encouraging for buyers, sellers and real estate professionals alike.”
I have seen that inventory is down, which is typical for this time of the year. Some sellers prefer to take their home off the market during the holidays; however, I have seen that buyers looking for homes during the holidays are quite serious about buying. Sellers who remain in the winter market can actually benefit because showings can be more productive, and fewer showings are needed to sell the property. For more information on selling your home during the holidays, refer to this article from The Lipman Group Sotheby’s International Realty.
The Greater Nashville Association of REALTORS® is one of Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners.