Kenneth’s update 11092023… Available Inventory and Median Prices for Single-Family dwellings and Condominium classifications reported increases as the real estate process remained the same at 47 days for the month of October. As expected with seasonal activity, the closings and pending contracts decreased from M-T-M.
Overall, key indicators reflected real estate professionals’ expectations. Mortgage rates continue to have a significant influence on productivity for the real estate industry. Creative opportunities by lenders to navigate purchasing power from the perspective of a home buyer are being utilized with future refinancing adjustments being considered as an option. REALTORS® are moving forward in November and the Thanksgiving holiday to serve the clients’ and consumer’s needs. Should you jump into the real estate market? Contact your favored REALTOR® to discuss the current conditions and take advantage of the home buying and selling process.
The Greater Nashville REALTORS® recently released a report for the month ending October 31, 2023, as follows: There were 2,697 closings; 1,993 pending sales; 10,235 inventory; 47 days on the market; and the median price for single-family dwellings of $472,370, and $347,000 for condominium classifications. The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson, and Wilson.
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