Just over 30,000 homes were sold in the Nashville area last year. According to the Greater Nashville Association of Realtors, it’s the first time that’s happened since 2007, and marks a rapid rise towards pre-recession levels.
Let’s be clear, home sales still have a long way to go if the market is going to reach its old highs. But for two years now, the rebound has been strong, especially in certain areas.
Nikki Klemmer closed on her first house in December. She bought in Hendersonville, where the pace of sales felt a little slower-and safer-to her.
“It didn’t seem like there were bidding wars for houses there, so I felt better about that that I had more time to think things through and make a good offer, but I had friends who’ve been buying in Creive Hall or East Nashville and they seem to have constant bidding wars for their houses.”
Those bidding wars continue to help drive up the price of homes. The median sale price in December for a single-family home was more than $198,000, up from $187,000 the year before. And looking at December alone, sales were up 13% over the same month in 2012.