Home sales strong in July

July recorded 3,819 home sales in the Nashville area, an increase of 5.2 percent over July 2004.

Statistics from the Greater Nashville Association of Realtors show year-to-date 21,950 homes have been sold versus 21,046 through July 2004

3,740 sales were pending at the end of July. There were 3,426 pended a year ago.  The average number of days on the market for a single family home was 61 days in July, slightly lower than the 64 days for July 2004.

GNAR President-elect Christie Wilson: "It is encouraging to see the second half of 2005 begin by continuing the record pace set by the first half of the year. In July, home sales climbed above 3,800 for the second consecutive month and only the second time in Greater Nashville's history."

The average residential single-family home price was $166,400; $138,350 for a condominium. The median residential and condominium prices last year were $151,900 and $125,000, respectively.

Home inventory (homes listed for sale) was 13,991, versus 15,222 at the end of July last year.

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