The Greater Nashville Association of Realtors has released a statement opposing the English-Only initiative. The statement encourages it members who live in Davidson County, and all Davidson County voters to defeat the measure in the election scheduled for Janusary 22, 2009.

HOMES SALES DECREASE; MEDIAN PRICES REMAIN STEADY IN MAY

There were 2,508 home closings in Greater Nashville in May. That represents a decrease of 28.4 percent from the 3,503 closings in May of last year. Year-to-date clsoings are 10,406, which is a decrease of 28.1 percent form teh 14,482 for the same period last year.

Median prices for residential and condominiums sold in May are $189,975 and $159,000 respectively. The median prices in May of 2007 were $185,405 for residential and $160,334 for condominiums.

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HOME PRICES RISE; SALES DECLINE IN APRIL

There were 2,135 home closings reported for April, a decrease of 28.5 percent from the 2,989 clsoings reported for April of 2007. Year-to-date closings are at 7,989, down 28 percent from the 10,979 reported through April of last year. Inventory is at 24,670, compared to 20,129 in April of 2007.

The median price of a single-family residence was $180,000 and for a condo it was $162,000 compared to prices of $177,900 and $163,900 respectively last year. – GNAR

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Weichert Realtors, The Andrews Group is now offering a full service business brokerage division to aid their clients in the purchase and sale of small to mid sized businesses in the Middle Tennessee market.  For more information and to search businesses for sale please visit their new website at http://www.weichertbusinessbrokers.com

HOME PRICES INCREASE; SALES DECREASE IN JANUARY

There were 1,644 home closings in January of 2008, which is down 28% from the 2,289 closings in January of 2007. Inventory at the end of January of this year was 21,952, compared with 17,264 at the same time last year. Click here for more complete details on the data for January, as well as historical information.

The year has started with a considerable amount of energy in the real estate market and there is much conversation about an increase in showings. While it may take a few months to see the impact in closings, there are some encouraging signs such as an increase in the number of pendings from last month and the favorable trends in prices.

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A comparison of sales by category for November is:

With foreclosures on the rise in many states, the Nashville area real estate market has been immune to the “doom and gloom” scenarios portrayed by the national media. It is true that there are more available homes on the market than in recent years but they are from people who are choosing to sell, not having to sell. With that in mind now is a great time for first time home buyers or investors to get great deals and have a low interest rate! For the last few years rates have been low and inventory was also low so the sellers had a lot of power. Now rates are still low and there are more homes to choose from so YOU the buyer has the power. Drop me an email and I can show you some unbelievable deals on the market today! http://www.NashvillesAgent.com

A comparison of sales by category for May is:

Real estate is a roll-a-coaster to say the least. The Nashville market is no exception. We have “pocket” areas that seem to be immune to National trends. So what if your house that you want to sell is not in one of these areas? You now are in a “buyer’s market” which means that you will have to accommodate buyer’s demands in order to sell your home. If you are thinking about selling your home, please contact me to determine if you are in a desirable or “pocket” area or not.

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