Growth in home sales was minimal, sales volume and median price kept rising at a steady clip, and active listings (inventory) remained tight in October 2020, according to data compiled by Tennessee REALTORS® via REALTORS® Property Resource (RPR).
Single-family home closings were relatively flat at 9,478 in October, up +1.3% from 9,358 closings in the same month a year ago.
Closed sales volume was $3.1 billion, a +19.5% jump from $2.6 billion in October 2019 (-10% from last month).
The median sales price was $268,000, up +15.7% from $231,640 a year earlier.
Active listings were 34,794, down -27.5% from 47,964, as inventory remained tight while sales and prices stayed on the upswing.
New listings decreased to 11,739 in October 2020, a -4.8% dip from 12,328 new listings a year earlier.
See more details broken down by Grand Division (West, Middle, East) HERE, and find all past TN housing data HERE.