Nashville Market Conditions for June 2008
Jul 7th, 2008 by Administrator
A total of 722 single family homes were sold in Nashville during the month of June. This is a 26% decrease from last June’s activity. The average sale price slipped 6% to $241,228 while the median price dropped 3% to $176,000, compared to June 2007. Inventory is relatively unchanged from May but is about 10% higher than this time last year. Current unsold inventory in Davidson County sits at a 7 month supply given current absorption rates.
Surrounding counties are showing similar decreases in activity. Sales in Williamson County are down 33% from last June with average sale prices declining 5%. Wilson County shows the biggest drop in closings, down 45% but average prices declined only 2%. Rutherford County saw a 36% decline in closed sales while the average sale price slipped 5%.
