Home Sales Rise Leading into Summer

real estate
Stock Image

Data for the month of May showed 4,063 home closings according to figures provided by Greater Nashville Realtors. This figure indicates a 24 percent increase from the 3,267 closings reported for the same period last year.

“This type of increase shows how quickly our area’s home inventory is going under contract and closing. Buyers must remember, there are great homes out there,” said Brian Copeland, Greater Nashville Realtors president. “You can’t sit on the sidelines as prices and interest rates rise, but you have to make quicker decisions than prior markets.”

A comparison of sales by category for May is:




CLOSINGS 3,267 4,063
Residential 2,759 3,214
Condominium 325 586
Multi-Family 16 32
Farms/Land/Lots 167 231


There were 3,778 sales pending at the end of May, compared to 4,085 pending sales at this time last year. The average number of days on the market for a single-family home was 35 days.

The median price for a residential single-family home was $400,000 and for a condominium, it was $277,900. This compares with last year’s median residential and condominium prices of $329,900 and $225,000 respectively.

Inventory at the end of May was 4,308, down from 10,001 in May 2020.

The current inventory of properties by category, compared to last year, is:




INVENTORY 10,001 4,308
Residential 7,086 2,557
Condominium 1,001 601
Multi-Family 48 64
Farms/Land/Lots 1,866 1,086

“The lack of inventory is staggering. Realtors are doing everything we can to bring fresh properties to the marketplace. I encourage every homeowner to reach out to their Realtor to see what their home could potentially sell for. We rarely see prime selling windows like this one,” added Copeland.

June marks National Homeownership Month, which recognizes the value of homeownership to individuals, families, communities and the nation’s economy. Realtors are on a mission to protect homeownership rights for all consumers, That’s Who We “R,” Realtors.

About Greater Nashville REALTORS®
Middle Tennessee’s largest professional trade associations and serves as the primary voice for Nashville-area property owners. REALTOR® is a registered trademark that may be used only by real estate professionals who are members of the National Association of REALTORS® and subscribe to its strict code of ethics.

The data collected for this release represents nine Middle Tennessee counties: Cheatham, Davidson, Dickson, Maury, Robertson, Rutherford, Sumner, Williamson and Wilson.

Offers for you

Support our publication by shopping here

Improve Your Heart Health with All-Natural Soltea Daily Supplement – Click Now to Save 25% Off Your First Order
All-Natural Heart Health Supplement – Save 25% Now
Coding for kids! Introducing programming games for the next generation. Get your kids coding today.
Start with a free trial.
The easiest way to compare and save on home and auto insurance. Match coverage, compare rates and save.
Find hundreds in savings now!
Know your spending habits, anticipate overdrafts, and get up to $250. Only takes 2 minutes. No credit check.
Get your finances on track.
Acorns helps you grow your money. Take control with all-in-one investment, retirement, checking and more.
Get a $5 bonus when you sign up.
Overcome your credit card debt with Tally. Consolidate and save money while you pay it down.
Get started with Tally today.
Lower your bills and stay on top of your financial life with Truebil, the app that helps you save every day.
Take control & start saving money!
Grow Credit
Grow Credit is a free Mastercard you can use to pay your subscriptions while you build credit.
Start building your credit today!


Please enter your comment!
Please enter your name here