Tue. Jul 16th, 2024

Greater Nashville Association of Realtors Releases June Home Sales Report

By meerna Jul11,2024
Greater Nashville Association of Realtors Releases June Home Sales Report

NASHVILLE, Tenn. (WKRN) — The Greater Nashville Realtors Association has released its June Home Sales Report.

It may not come as a surprise to some, but home sales are down. The report collected data from nine counties across Middle Tennessee to come to this conclusion. Real estate agents with the association told News 2 the findings could indicate the housing market is starting to balance out.

There were 3,042 closings across Middle Tennessee in June 2024. That’s a 13 percent drop from June 2023. Pending homes for sale were also down 6 percent from the same time last year.

Summer is an average hot time for home sales, and real estate agents with the association said these numbers could be beneficial for both buyers and sellers. News 2 spoke with Jack Gaughan, vice president of the association, who explained how these numbers could help.

“There’s more inventory on the market, which means buyers have more choices (and) a little more leverage when it comes to negotiating a deal,” Gaughan said. “But sellers don’t have to worry that maybe — because there’s more inventory — they’re losing value as well.”

⏩ Read today’s top stories on

If we look at the numbers for residential homes year over year, the median price increased from $474,000 in 2023 to $505,000.

“Sellers are really seeing that they can still sell their home for a good price and higher than what they bought it for, and they can still negotiate with the buyer,” Gaughan said. “Now the buyer has more choices in the market.”

By meerna

Related Post