The New Motto of Nashville Home Buyers
Herodotus, a Greek historian, once described the ancient Persian mail system with these famous words, “these are stayed neither by snow nor rain nor heat nor darkness from accomplishing their appointed course with all speed.”
A similar translation was inscribed on the James Farley Post Office in New York; however, it is not the motto of the Post Office. The US Post Office has no official motto.
Given a few minutes, I’m sure we could help them out.
I am declaring these famous words as the official motto of Nashville Buyers in 2016.
There were 2,167 closings in January which is up nearly 10% over the previous January. It was 2007 when we last saw more than 2000 closings in January, so this is surely a sign of continued market growth.
We experienced the biggest snow and ice storm in more than a decade in January.
Who will that stop? Not the people of Nashville.
The average number of days on the market was 64 (not including time to close). This is up slightly from December and is not out of the ordinary. January 2015 averaged 77 days on the market.
The median sales price of a single family home was $242,688. When compared to the same month last year, the median sales price was 12.9% higher.
Inventory levels continue to decrease. January showed a 10.4% decrease in the number of available homes for sale. Builders continue to add new homes to the market. We expect 2016 will begin to turn the tide of low inventory.
Many folks wait until the spring to put their homes on the market. I would consider listing it as soon as possible to avoid the additional competition and take advantage of the increased buyer activity now.
Getting a jump start on the spring sales season will give you an advantage over your neighbors.
Reply to this email to start your plan today.
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