Dickson TN Real Estate

GNAR NEWS

Special Issue - June and Mid-Year Home Sales

July 9, 2008

MID-YEAR CLOSINGS REMAIN CONSISTENT; CONDOMINIUM MARKET SETS NEW PRICE RECORD

There were 2,591 homes sold in the month of June, which is down 27.8 percent compared to the 3,588 closings reported for June of 2007.

Second-quarter closings are also down, with 7,234 sales reported. that is a 28.2 percent decrease compared to the second quarter of 2007.

Year-t-date closings are also down 28 percent, with 12,997 sales reported so far in 2008, compared with 18,070 reported through mid-year 2007.

The median price for a single-family home during June was $183,615 and for a condominium is was $185,500. This is the first time

that the median price of a condo exceeded that of a single-family home. Last year’s median prices for June were $196,000 for single-family and $155,800 for condominiums.

Inventory is now 24,935, compared with 21,236 at the end of June in 2007. There were 2,684 sales pending at the end of June and single-family homes were on the market for an average of 76 days.

This entry was posted on Wednesday, July 9th, 2008 at 6:17 pm and is filed under Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.