Are you in the market for Nashville Luxury Homes?
The Nashville Luxury Homes market took a big hit during the economic crisis and was expected to be one of the last areas to recover. The market started showing signs of recovery in 2011. I decided to take a look at how these homes fared over the last six months of 2012. Typically, the spring and summer months are the busiest sales months of the year in the Nashville Real Estate Market.
The graph below illustrates the sales of Nashville Luxury Homes from March 2011 throughout August 2011. We defined Luxury Homes as those homes that are priced at $500,000 or more. We looked at the three of the most popular areas for these types of homes, the neighborhoods of Brentwood, Belle Meade and Green Hills. The average sales price in 2011 was $810,785 with 350 units sold and an average of 95 days on the market. These number showed some improvement over 2009 – 2010.
The graph is interactive, so click on it to make it come to life. Also click on the legend on the left had side of the graph to see the different charts for the Sales Price, Sales Volume and Days On Market over the time period.
Without looking at the data, I expected that 2012 would show some signs of improvement, but I was surprised at what I found. Reviewing the same neighborhoods over the same time period, we found that the average sales price in 2012 was $850,071 with 456 units sold and an average of 93 days on the market.
I was amazed to find that the Average Luxury Home Sales price had improved by $39,286 which is a 4.8% higher than 2011. The number of units sold was also astounding at 456. This equals a 30.3% increase in luxury home sales from 2011 to 2012. This is another sign that the end in near to the best buying opportunity of your lifetime. With interest rates at all-time lows, you cannot afford to sit on the sidelines any longer.
Call Steve (615-519-0983) or Gretchen (615-519-0986) today to take advantage of this amazing opportunity!
FYI – A Great Place to Start Looking for Nashville Luxury Homes: 1241 Vintage Place in Nashville, TN!
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