Sept + 3Q 2018 TN Housing Report

2018-10-15T17:25:13+00:00October 15th, 2018|

[See all TN housing data, including the current month’s, on THIS PAGE.]

September 2018 TN Home Sales Dip 10%, Prices Rise 3%, Inventory Declines 13%
Third-Quarter 2018: Home Sales -2%, Price +5.2%

There were 6,425 single-family home closings in Tennessee in September 2018, down 728 from a year earlier (-10.2 percent), while the median price ticked up +3.2%, and available homes tightened (-13.2%), according to data compiled by Tennessee REALTORS®.

Sales of single-family homes fell from 7,153 closings to 6,425, the median price grew from $218,000 to $224,900, and available inventory dipped from 24,691 to 21,440 over September 2017.

Condominium sales in September dipped -7.6% (591 closings to 552), while the median condo price fell -6% ($195,100 to $183,450), and condo inventory dropped -9.2% (1,668 to 1,514) over September 2017.

For the third quarter of 2018 (July-Sept.), sales of single-family homes slipped from 23,015 to 22,537 (-2%), and the median price grew from $218,500 to $230,000 (+5.2%). Condo sales eased down for the quarter, 1,894 to 1,832 (-3.3%), while the median condo price rose +2.7% ($187,500 to $192,500).

The tables below summarize Tennessee’s September 2018 data:

 

SALES Sept 2017 Sept 2018 Change
Single-Family 7,153 6,425 -10.2%
Condominium 591 552 -7.6%

 

MEDIAN PRICE Sept 2017 Sept 2018 Change
Single-Family $218,000 $224,900 +3.2%
Condominium $195,100 $183,450 -6%

 

INVENTORY Sept 2017 Sept 2018 Change
Single-Family 25,008 22,986 -8.1%
Condominium 1,636 1,627 -0.5%

 

And here are the third-quarter 2018 results:

 

SALES 3rd Q 2017 3rd Q 2018 Change
Single-Family 23,015 22,537 -2%
Condominium 1,894 1,832 -3.3%

 

MEDIAN PRICE 3rd Q 2017 3rd Q 2018 Change
Single-Family $218,500 $230,000 +5.2%
Condominium $187,500 $192,500 +2.7%

 

Tennessee REALTORS® is one of the state’s largest and most influential trade associations. Consisting of 21 local associations and 28,800+ 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]

×