Nashville, TN (PRWEB) May 4, 2008
Accent Realty Group has just released a comparison of 1st Quarter real estate sales for the past 2 years. This market report details new listings, pending and closed sales…as well as percentage of list price to actual sales price and number of days on the market.
The Nashville economy is very diversified…and tends to remain quite stable. According to Pam Rumley, principal broker for Accent Realty Group, the real estate market has slowed somewhat…primarily because newcomers must sell their present homes in other parts of the country (perhaps with slower markets) before purchasing in the Nashville area. This report shows that, considering the current mortgage problems, the Nashville Real Estate Market remains strong and vibrant.
These figures are for Nashville area, including Davidson, Sumner, Williamson, Rutherford, Wilson, Robertson and Cheatham counties…which comprise the Nashville market area.
The 1st Quarter of 2008 saw a slight drop in new listings. There were 13,551 new listings compared to 14,161 during the 1st Quarter of 2007. The average list price for 2008 was $346,749 compared to $347,946 for 2007.
Pending sales saw the greatest difference in numbers…with 2008 showing 5,057 pending compared to 2007 with 6,963 pending sales.
Actual closed sales dropped from 5,664 in 2007 to 4,278 in 2008. The average sold price dropped from $235,389 in 2007 to $234,196 in 2008. The percentage of list price/sales price dropped from 99.51% in 2007 to 97.82% in 2008. And the average number of days on the market increased from 71 to 79.
For further comparison, Williamson County had 295 fewer closed sales during the 1st quarter of 2008….with an average sales price that dropped from $447,851 to $443,193. The percentage of list price/sales price also dropped…from 99% in 2007 to 97.4% in 2008. Average number of days on the market in Williamson County increased from 65 to 82.
For more information about Nashville Real Estate, please contact Pam Rumley at 615-826-0305 or visit http://www.NashvilleRealEstateAuthority.com