Nashville, TN (PRWEB) August 25, 2008 -
Accent Realty Group has released market trend figures for Davidson and surrounding counties in Middle Tennessee. This area includes Nashville, Brentwood, Franklin, Hendersonville and Gallatin.
Nashville Real Estate is holding its' own very well during the present real estate crisis. The Nashville area 2nd quarter home price change is -1.4% compared to -9.9%, which is the US National average. These figures may be due to the fact that home prices in Nashville didn't see the rapid acceleration of home prices that occurred in other parts of the country.
Pam Rumley, Broker of Accent Realty Group in Hendersonville reported, "I have experienced a sharp increase in the number of cash buyers this year. People are taking retirement money…or selling their current home and using the equity to pay cash for a smaller home." She goes on to say, "I have not experienced many problems with buyers obtaining mortgages. As long as people actually qualify for a home…the financing is there."
The Nashville Real Estate market includes Williamson County, which is one of the richest counties in the country, where homes sold at 97.6% of their average sale price of $ 432,863 for the 2nd quarter of this year…compared to 98.2% (with an average sales price of $ 467,756) for the same period of 2007. These figures indicate a 7% decrease in sale prices.
In Sumner County, homes sold at 97.3% of their average list price of $220,170 for the 2nd quarter of 2008…compared to 98.2% of an average list price of $222,330 for 2007. As you can see, the homes in this area had a very small decrease in price.
In Nashville's area 2, which includes the high-end areas of Belle Meade and Green Hills, homes sold at 96% of their average sale price of $450,127 for the 2nd quarter of 2008…while the same period of 2007 reports homes selling at 96.7% of their average list price of $ 485,207. This area is experiencing the same 7% decrease in home sale prices as Williamson County.
For more information regarding the real estate market in Nashville TN, contact Pam Rumley. Pam and her team will assist you in finding the best bargains in Nashville Tennessee Real Estate.
Pam Rumley, Broker/Owner
Accent Realty Group