[See all TN housing data, including the current month’s, on THIS PAGE.]
TN Home Sales -6.7% in March 2019, -2.8% in Q1
Median Home Price +2.4%, Inventory -14.8% in March
There were 6,466 single-family home sales in Tennessee in March 2019, down -6.7% from 6,937 in March 2018; the median home price was $230,000, up +2.4% from $224,500; and the inventory of available homes decreased -14.8%, from 21,140 to 18,000, according to data compiled by Tennessee REALTORS®.
For the first quarter of 2019 (January-March), single-family home sales were down -2.8% (16,942 to 16,468), while the median price rose +4.4% ($215,500 to $225,000).
“We saw a typical, seasonal pick-up in sales in March from last month as the warmer spring season began, even while total sales were down from a year ago, the median price rose, and inventory remained tight,” said Kathy Tucker of Chattanooga, 2019 President of Tennessee REALTORS®. “Tennessee homebuyers and sellers continue to face a vibrant but also challenging environment as they navigate one of the largest and most complex transactions that many will ever make.”
The tables below summarize Tennessee’s March 2019 and 1Q 2019 housing data:
| CLOSINGS | March 2018 | March 2019 | Change |
| Single-Family | 6,937 | 6,466 | -6.7% |
| MEDIAN PRICE | March 2018 | March 2019 | Change |
| Single-Family | $224,500 | $230,000 | +2.4% |
| INVENTORY | March 2018 | March 2019 | Change |
| Single-Family | 21,140 | 18,000 | -14.8% |
| CLOSINGS | 1Q 2018 | 1Q 2019 | Change |
| Single-Family | 16,942 | 16,468 | -2.8% |
| MEDIAN PRICE | 1Q 2018 | 1Q 2019 | Change |
| Single-Family | $215,500 | $225,000 | +4.4% |
The charts below summarize Tennessee’s March 2019 and 1Q 2019 housing and condominium data by Grand Division:
Tennessee REALTORS® is one of the state’s largest and most influential trade associations. Consisting of 21 local associations and 27,000+ 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.
