Lots of real estate activity in Davidson County this summer! Pending sales, which is the number of properties on which contracts have been accepted in a given month, was 1,606 this month versus only 881 in August 2019. If those pending transactions actually close in the next 30-60 days, it will be a banner year for closed sales.
With the pent-up demand from the aborted spring selling season and historically low interest rates, buyers are on the move, despite other negative news.
But inventory is tight. In Davidson County, there were 27.5% fewer homes for sale in August than during the same period last year.
Correspondingly, the average sales price for a single-family home increased 9% from this time last year to $458,690.
Real estate being local, local, local, these stats vary by neighborhood and price point. The luxury market (over $1,000,000), for example, typically follows its own trajectory.
For additional data click on the links below: