July 2018 TN Housing Report

2018-08-10T18:27:34+00:00August 10th, 2018|

Tennessee’s July Home Sales Flat, Median Price Rises, Inventory Declines More Slowly
Home Sales –.01%, Price +6.7%, Inventory -15%

There were 7,767 single-family home closings in Tennessee in July 2018, 10 fewer than a year earlier (-.01 percent), while the median price ticked up and available homes continued to tighten at a slower rate than previous months, according to data compiled by Tennessee REALTORS®.

Single-family home sales were flat, from 7,777 closings to 7,767, the median price grew +6.7 percent ($220,000 to $234,900), and available inventory was down -15 percent (25,159 to 21,391) from the previous July.

Condominium sales returned to their recent trendline, slipping -6.5 percent (631 closings to 590), while the median condo price rose +9.4 percent ($181,000 to $198,000), and condo inventory tightened but at an easing rate, -7.7 percent (1,644 to 1,518) over July 2017.

The tables below summarize Tennessee’s July 2018 data:

 

SALES July 2017 July 2018 Change
Single-Family 7,777 7,767 -.01%
Condominium 631 590 -6.5%

 

MEDIAN PRICE July 2017 July 2018 Change
Single-Family $220,000 $234,900 +6.7%
Condominium $181,000 $198,000 +9.4%

 

INVENTORY July 2017 July 2018 Change
Single-Family 25,159 21,391 -15%
Condominium 1,644 1,518 -7.7%

 

Tennessee REALTORS® is one of the state’s largest and most influential trade associations. Consisting of 21 local associations and 28,000+ members, the association provides a variety of services including legislative and regulatory advocacy, professional development, professional-standards training, and transaction-management solutions. To learn more, visit www.tnrealtors.com.

×

[login-form]

×